BankTrack welcomes the decision of India's Ministry of Environment and Forests to not grant permission for forest clearance for the Sterlite bauxite mining project on the sacred Niyamgiri hills in Lanjigarh, India. The mine is a project of Sterlite Industries India Ltd., a subsidiary of London registered mining company Vedanta Resources and the state-owned Orissa Mining Corporation.

By not granting this permission also the environmental clearance for the mine is inoperable. The Indian Minister of Environment and Forest Jairam Ramesh concluded yesterday, August 24 that various laws have seriously been violated, including the Forest Conservation Act of 1980 and the Environmental Protection Act of 1986. He also stated that his Ministry will examine what penal action should be initiated…read more

Banks are coming under pressure for financing the nuclear power sector, with a group of NGOs launching a website which names the top 10 "nuclear banks".

Under the banner "nuclear banks, no thanks!", the site lists information on 867 transactions involving 124 banks. BNP Paribas provided…read more

BankTrack, in cooperation with a number of working partners, today launches www.nuclearbanks.org, a new website mapping the involvement of 45 leading commercial banks in funding nuclear power…read more