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Crédit Agricole gets real on coal, but oil & gas restrictions must follow, says BankTrack

2019-06-06 | Paris, France | BankTrack
Today’s announcement by Crédit Agricole of a new climate strategy sees the bank introducing a significantly tougher and more restrictive approach to thermal coal financing and investing. The move has been welcomed by the commercial banking sector watchdog BankTrack, which has also called for other commercial banks to match or better Crédit Agricole’s improved approach to coal, and for the French bank to now start making urgent improvements to its financing policies for oil and gas. Included in a range of new policy measures,…
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We seek Commitments, not just more Principles

45 civil society organisations seek rewrite of Principles for Responsible Banking
2019-05-29 | Nijmegen | BankTrack
Forty-five civil society organisations from fourteen countries call on the United Nations Environment Programme Finance Initiative (UNEP FI) to reformulate the proposed ‘Principles for Responsible Banking’ (PRBs) so that banks aspiring to adopt the principles must make concrete, ambitious and timebound commitments upfront on how they will contribute to solving the world’s many pressing social and environmental problems. The joint civil society submission [1] was coordinated by BankTrack and endorsed by 350.org, Amazon Watch, Greenpeace…
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International Call on Banks: Don’t finance the East Africa Crude Oil Pipeline

African and international groups voice opposition to pipeline development
2019-05-28 | Nijmegen | BankTrack, Inclusive Development International
A coalition of African and international organisations is today calling on South Africa’s Standard Bank and Japan’s Sumitomo Mitsui Banking Corp (SMBC) to withdraw from their role as lead arrangers for a massive oil pipeline under construction in Uganda and Tanzania. The East Africa Crude Oil Pipeline is being developed as part of a push to open oil fields around Uganda’s Lake Albert to international markets, linking them with the port of Tanga in Tanzania. The pipeline is projected to require an investment of US$3.5…
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Natixis AGM: the bank gives the cold shoulder to frontline communities

2019-05-28 | Paris | Les Amis de la Terre
Natixis may have announced a new coal policy, but the main take-away from its AGM was its complete lack of respect towards a representative from an NGO based in Mozambique who travelled all the way to France to get answers from the bank on concerns around a gas project. According to Les Amis de la Terre (Friends of the Earth France), the bank cannot claim to take seriously its responsibility in terms of climate change if it keeps on financing new fossil fuel projects. Les Amis de la Terre and BankTrack attended Natixis AGM today, together…
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Mizuho’s new policy on coal-fired power generation financing falls behind Mitsubishi UFJ policy revisions

2019-05-23 | Tokyo | 350.org Japan
Joint NGO statement by 350.org Japan, Japan Center for a Sustainable Environment and Society (JACSES), Rainforest Action Network (RAN), KIKO Network, Friends of the Earth Japan, Greenpeace Japan On May 22, Mizuho Financial Group (hereinafter, Mizuho) announced revisions to its policies for investing in coal-fired power generation in a press release (*1) titled “Strengthening of the promotion system for our approach to sustainability.” The press release indicates that “Investment and financing…
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Dirty Profits 7 - Out of Control: Irresponsible weapons transfers and future weapon systems

2019-05-22 | Frankfurt am Main | Facing Finance
The DIRTY Profits 7 report presented today in Frankfurt am Main by the NGO Facing Finance highlights the ten European banks with some of the highest investments in 11 global arms companies, companies that have since 2015 been exporting to unstable/crisis-affected countries in the MENA region (Middle East and North Africa) and countries involved in the war in Yemen. The results: Ten European banks have provided roughly €24.2 billion in finance, and hold some €10 billion in investments in 11 arms companies exporting to Saudi Arabia, the…
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Update Alerts
On 2019-06-12 12:01:05 we updated the Lamu coal power project project page.
On 2019-06-07 14:20:49 we updated the National Australia Bank (NAB) bank page.
On 2019-06-07 11:21:42 we updated the Asia Pulp and Paper (APP) company page.