Plans to end gazumping with binding agreements in house sales shake-up

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Plans to end gazumping with binding agreements in house sales shake-up 1 day ago Share Save Add as preferred on Google Rachel Clun, Business reporter and Kevin Peachey, Cost of living correspondent Getty Images Home buyers and sellers can expect an end to "gazumping" in a major shake-up aimed at speeding up housing sales. Legally binding sales agreements will be introduced earlier to stop buyers or sellers walking away at a late stage in the process without a legitimate reason. In England and Wales, buyers can currently be outbid at a late stage of the sale and chains can fall apart months into the process, causing huge frustration for buyers as well as being expensive. Previous attempts to improve the system have had limited success and few of the latest proposed changes will happen immediately. The planned reforms, first announced in October last year , will be introduced at the end of this Parliament in 2029. The changes include home buyers receiving more information abou...
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ING Halts Financing for New Oil and Gas Projects to Support Green Transition


ING Pledges to Stop Financing New Upstream Oil and Gas Projects



1. ING’s New Financing Policy

ING announced that it will no longer finance pure-play oil and gas companies involved in exploration or development of new fields. This decision aligns with the bank’s commitment to support the transition to green energy and will take effect immediately.

2. Support for Net-Zero Goals

The decision was revealed in the 2024 Climate Progress Update and aligns with the International Energy Agency (IEA)’s 2050 net-zero pathway. The IEA’s strategy emphasizes energy efficiency in existing fields and halting new oil and gas extraction projects.

3. Previous Announcements and Future Plans

Last December, ING shared plans to reduce and eventually stop financing oil and gas exploration. The new policy builds on this by extending the financing halt to liquified natural gas (LNG) export terminals after 2024.

4. ING’s Commitment to Green Transition

Steven van Rijswijk, CEO of ING, highlighted the bank’s ambition to lead the low-carbon transition. He stated that ING’s role is to help customers and society decarbonize and reduce emissions, with the shared goal of achieving a thriving net-zero world. 

5. Phasing Out Oil and Gas Financing

ING has committed to phasing out oil and gas exploration and production financing by 2040, ahead of the IEA’s guidelines. The bank is now expanding its policy to immediately stop all new financing for pure-play upstream oil and gas companies developing new fields.

6. Client Engagement and Green Transition

ING is firm in cutting ties with clients who do not align with its green transition strategy. Its "Terra approach" targets high-emission sectors like oil and gas, shipping, aviation, and cement, helping them transition to greener practices through financing and engagement.


Source : euronews


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