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Bankrolling Climate Change - Report

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Bankrolling Climate Change (2011) is a research study produced by BankTrack, urgewald, groundwork, and Earthlife Africa.  It presents an analysis of the portfolios of 93 leading commercial banks, particularly looking at their investments in the coal industry.

The following three charts provide a general overview on some of the findings of the report.  It is evident from the first table that the majority of coal financing is provided via investment banking and corporate loans, comprising a total of 88% of mapped investments.  Project financing plays a more negligible role, accounting for only 1% of mapped investments.

 

Chart 1

 

Another important figure to observe is the overall rise of banks' investments into the coal sector.  Since 2005, the 93 banks tracked in this report provided a staggering 232 billion Euros in financing.  From the graph below we can see that the amount of financing has fluctuated between 2005 and 2010.  However, since 2005 (the year the Kyoto Protocol came into effect), bank investments into the coal sector have on the whole significantly increased.

 

Chart 2

 

Approximately 74% of the total 232 billion Euro financing comes from the 20 banks seen in the below chart, the world top 20 "climate killer banks".  Well-known institutions such as Barclays, Morgan Stanley, Goldman Sachs, Citi, and Credit Suisse are part of this group that has provided nearly 171 billion Euros to the coal industry.  This figure is in contrast to the banks' rhetoric and alleged commitment to tackling climate change.  Clearly the banks are not ‘putting their money where their mouth is.'

 

TOP 20 CLIMATE KILLER BANKS

Chart 3

Back to Banks and Coal

Bank of China
Bank of China is one of China's Big Four joint-stock commercial banks.  Bank of China offers commercial banking, investment banking, insurance, asset management, aircraft…
China Construction Bank
China Construction Bank (CCB) is one of China's Big Four joint-stock commercial banks.  As of March 2009, CCB was the second biggest bank in the world, operating a network…
Deutsche Bank
Deutsche Bank was founded in 1870 and is a leading global investment bank. It has operations throughout the world and has a strong presence in Germany and Europe. The bank´s…
Goldman Sachs
Goldman Sachs (NYSE: GS) was founded in 1869 and is a leading global financial services firm that is headquartered in New York.  It provides an array of financing…
ICBC
ICBC is a joint-stock commercial bank based in the People's Republic of China.  Founded in 1984, ICBC was the world's biggest bank as of March 2009.  ICBC has expanded…
Morgan Stanley
Morgan Stanley was one of the four investment banks that for decades ruled on Wall Street (with Lehman, Merril Lynch, JPMorgan Chase). The corporation, founded by Henry S.…
UBS
Modern UBS was formed through a merger of the Union Bank of Switzerland and the Swiss Bank Corporation in June 1998.  UBS is headquartered in Zurich and Basel and it…
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check dodgy deals on record
Coal India
India
Coal India is the biggest coal producer worldwide, owned by the government of India. It was created in the 1970's, when India's coal minging industry was nationalised in…
E.on
Germany
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ESKOM
South Africa
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GDF Suez
France
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Rio Tinto
Australia
Rio Tinto is a mining and exploration company involved in each stage of metal and mineral production and processing. Rio Tinto is one of the largest publicly listed mining…
RWE
Germany
RWE is Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies. Founded in 1898, the company is active in the generation,…
Vattenfall
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Sweden's state-owned Vattenfall is Europe's sixth largest generator of electricity and largest producer of heat. In Sweden it has a market share of 50%. The company's generation…
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banktrack tweets
Interesting UBS piece @john_vidal - We have forthcoming data showing UBS still deep into coal finance. #BIGchallenge http://t.co/muBO5kntUf
Aug 28, 2014
UBS urges financial clients to join the solar revolution” - http://t.co/yHVvqdO7vt - while still bankrolling coal of course.
Aug 28, 2014
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