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BNP Paribas, Deutsche Bank and ING invest €1.34 billion in coal
FairFin, Climaxi and BankTrack ask for green investments
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By: FairFin
2014-06-03
Brussels

Contact:

Frank Vanaerschot, frank@fairfin.be 0487-671627


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President Obama has taken an important step to confront climate change. The goal to reduce carbon emissions by 30% in 2030 will put a lot of pressure on the coal industry, as it provides for almost half of US electricity generation. The dependency on coal has to be cut back in Europe as well. FairFin, Climaxi and BankTrack ask banks to take their responsability.

Who thinks coal is a case of far away or long ago, is mistaken. In Europe alone, 71 new (!) coal plants are planned. This despite the fact that coal is one of the most polluting ways  of generating energy. Moreover, a choice for coal blocks the transition to a green energy provision.

"We are here to protect public health and the environment," says EPA Administrator Gina McCarthy. The US wants to set an example in the world and shows that this can only be done by taking difficult decisions that force the industry to change. If the US can do it, why can't Europe?  

Five banks active in Belgium invest €1.38 billion in coal

The choice for coal is largely maintained by investments made by 'our' banks in coal companies like RWE, Vattenfall and PGE. BNP Paribas invests €668.2 million in those three companies, Deutsche Bank €575.4 million, ING €98.6 million, Belfius €26.5 million and KBC €17 million.

FairFin, Climaxi and BankTrack call on banks to stop funding new coal plants, invest in renewable energy, create proper sustainable savings and investment products, provide cheap credit to green projects and only call their services or products 'green' or 'sustainable' if they can prove they are.

Action plant a power plant

Bank clients can ask for 'seed bombs' at the FairFin office, which they can plant near the banks investing in coal. The banks' gardens will soon blossom in beauty, hopefully their investments will as well.  

Investments in coal by banks active in Belgium

Banking on Coal Report, 2013

Join in?

- Ask Your Bank For A Proper Sustainable Policy

- Plant a power plant

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Related banks

Belfius Belgium

active

BNP Paribas Fortis Belgium

active

Deutsche Bank Germany

active

ING Netherlands

active

KBC Belgium

active
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Companies

active

RWE Germany

Biomass Electric Power Generation | Coal Electric Power Generation | Coal Mining | Commodities Trading | Nuclear Electric Power Generation | Solar Electric Power Generation | Wind Electric Power Generation
active

Vattenfall Sweden

Biomass Electric Power Generation | Coal Electric Power Generation | Coal Mining | Hydroelectric Power Generation | Mining | Nuclear Electric Power Generation | Solar Electric Power Generation | Wind Electric Power Generation
There are no companies active for this item now.
on record

Polska Grupa Energetyczna (PGE) Poland

Biomass Electric Power Generation | Coal Electric Power Generation | Coal Mining | Nuclear Electric Power Generation
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