KNOC bond clashed with banks’ own climate policies, NGO charges

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KNOC bond clashed with banks’ own climate policies, NGO charges

Jon Hay
March 30, 2021 04:00 pm
Tar sands oil Canada Alberta from Alamy 31Mar21 575x375
2F3N9WY The tar sands, a type of unconventional petroleum deposit, are a major contributor to the Alberta economy. | Alamy Stock Photo

An environmental activist institute has argued that the bookrunners of a Korea National Oil Corp $700m bond priced on Tuesday are being inconsistent with their own climate policies, and might even be taking legal risks, because of the issuer's exposure to tar sands oil production in Canada.

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