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By: BankTrack
2017-03-22 10:38:19

Contact:

BankTrack contact person for this campaign:

Yann Louvel


Share this page:

See also www.nuclearbanks.org

Nuclear power is sometimes widely and misleadingly promoted as the solution to energy insecurity and climate change. The nuclear sector itself is gearing itself up for a new nuclear dawn and some governments still embrace nuclear as one of their energy options.

Private banks play a key role in supporting the nuclear industry, by providing financing for companies involved in nuclear power generation and for the construction of new nuclear power plants.

BankTrack believes that any bank that strives to contribute to a sustainable solution to climate change should stay away from the nuclear sector and focus entirely on investing in energy efficiency and renewable energy sources.

Risks abound

Too many environmental and safety problems of nuclear energy remain unsolved until today. To mention only a few:

Safety threats:

  • Environmental, human health and social damages from mining of uranium, transportation of both fuel and waste, and processing of nuclear reactor fuel.
  • The threat of terrorist misuse of radioactive materials and the threat of ongoing nuclear proliferation.
  • The continuous threat of a big accident on the scale of Chernobyl or Fukushima.
  • The unsolved problem of how to dispose of thousands of tons of highly radioactive waste, leaving generations to come with a toxic, life threatening legacy.

Carbon footprint

Contrary to widely circulated claims, nuclear power is not a zero-carbon solution to growing energy demand. A lifecycle analysis of the nuclear fuel chain reveals that nuclear power is not carbon-free or even low-carbon (with the exception of reactor operation). The stages of the nuclear fuel chain: mining, processing, long-distance transportation, power plant construction, decommissioning and waste management, account for combined CO2 emissions comparable to, or higher than, those resulting from burning natural gas to make electricity (Matthes 2005 and Sims 2005).

Economic nonsense

At best, nuclear energy represents a slow, expensive, and very limited contribution to reducing GHG emissions. Investments in energy efficiency improvements and renewable energy sources offer a far cheaper, flexible and cost-efficient approach, delivering more GHG abatement per amount of money and time invested (Lovins 2005).

Public rejection

Despite massive efforts to manufacture a new acceptance for nuclear  energy, citizens in most countries remain wary to staunchly opposed to nuclear energy. Public perception of nuclear power has been shaped by events such as the Chernobyl disaster of 1986 and the Fukushima disaster of 2011.

Related banks

Bank of China China

Barclays United Kingdom

BNP Paribas France

Citi United States

Deutsche Bank Germany

HSBC United Kingdom

JPMorgan Chase United States

Royal Bank of Scotland Group (RBS) United Kingdom

Société Générale France

Related Dodgy Deals

Projects

There are no projects active for Nuclear banks now.
On record

Angra 3 nuclear power plant Brazil

energy plants - nuclear
On record

Baltic nuclear power plant- Kaliningrad Russian Federation

energy plants - nuclear
On record

Belene nuclear power plant Bulgaria

energy plants - nuclear
On record

Cernavoda nuclear power plant (units 3 & 4) Romania

energy plants - nuclear
On record

Jaitapur nuclear power plant India

energy plants - nuclear
On record

Mochovce nuclear power plant (units 3 & 4) Slovakia

energy plants - nuclear
On record

Temelin nuclear power plant (units 3 & 4) Czech Republic

energy plants - nuclear
On record

Visaginas nuclear power plant Lithuania

energy plants - nuclear

Companies

Active

RWE Germany

energy plants - coal | energy plants - nuclear | mining - coal
There are no companies active for Nuclear banks now.
On record

Areva France

energy plants - nuclear | energy plants - renewables | mining - non coal | nuclear industry
On record

EDF France

energy plants - nuclear
On record

ENGIE France

energy plants - coal | energy plants - dams
On record

Vattenfall Sweden

energy plants - coal | energy plants - nuclear | energy plants - renewables | mining - coal | mining - non coal | nuclear industry

News

| |
Type:
Year:
blog
external news
our news

Deutsche Bank receives Black Planet Award at AGM

No sign of culture shift towards sustainability with Germany's largest bank
2014-05-22 | Frankfurt | urgewald, Facing Finance and FoE Europe
blog
external news
our news

Victory for communities and environmental groups as proposed Kaliningrad nuclear plant is buried

2014-04-24 | Paris | Les Amis de la Terre
blog
external news
our news

Anti-Areva Protest: Letter to French and European Bankers from Fishermen and Farmers of Jaitapur

2013-06-04 | DiaNuke.org
blog
external news
our news

Kaliningrad Nuclear Plant: HypoVereinsbank follows BNP Paribas and pulls out. When will Coface and Société Générale follow suit?

2013-04-26 | Paris | Les Amis de la Terre
blog
external news
our news

Une centrale russe à l’assaut de l’Europe (Russian plant to conquer Europe)

2013-03-14 | France | Politis
blog
external news
our news

Kaliningrad: Are France and Societe Generale responsible for double standards in nuclear safety?

2013-03-06 | Paris | Friends of the Earth France and Greenpeace France
blog
external news
our news

New guidance notes on energy by ORSE: Falling short of the mark!

2013-02-06 | Paris | Friends of the Earth France
blog
external news
our news

Japan utilities at risk unless they adapt to changed market forces

2013-02-06 | Tokyo | Greenpeace International
blog
external news
our news

Greenpeace report rebukes finance sector for ignoring nuclear risks

2012-06-12 | Tokyo, Japan | Greenpeace International
blog
external news
our news

“Nuclear Banks, No Thanks!” coalition welcomes cancellation Belene nuclear plant

Cancellation Bulgarian nuclear power plant sends clear signal to banks that nuclear industry is a dying business; the future is in renewables
2012-03-29 | Nijmegen | Coalition “Nuclear Banks, No Thanks!”
blog
external news
our news

BankTrack welcomes withdrawal Bank Austria from Mochovce Nuclear power plant

Bank Austria closes credit line to Slevenske Elektrarne, enabling the construction of Mochovce nuclear reactors 3&4
2012-03-15 | Nijmegen | BankTrack
blog
external news
our news

France ready to finance the next Fukushima

Paris, July 12th, 2011 – Today, in a letter sent to President Sarkozy (1), more than one hundred organisations around the world officially asked France not to finance the nuclear power plant project in Jaitapur, India. This future atomic complex presents major risks for India and the world.
2011-07-12 | Paris | Les Amis de la Terre, Greenpeace
blog
external news
our news

Allemagne : les anti-nucléaire se concentrent désormais sur le financement

2011-05-30 | Novethic
blog
external news
our news

HSBC gets EUR 2.7 M consulting contract for Bulgaria's Belene NPP - report

2011-04-12 | Bulgaria | www.investbulgaria.com
blog
external news
our news

Mango Farmers, Fisherman Fight India Nuclear Plant

2011-04-06 | Bloomberg
blog
external news
our news

Decommissioning cost of Fukushima Daiichi might be over US$90billion

2011-04-03 | Tokyo Japan | Finance GreenWatch
blog
external news
our news

One month into Fukushima disaster, HSBC signs advisory contract for nuclear power plant in earth quake zone

2011-04-01 | Nijmegen, Netherlands | BankTrack
blog
external news
our news

Deutsche Bank cancels interest in Jaitapur nuclear project India

2011-03-22 | New Delhi, Berlin | urgewald, Greenpeace
blog
external news
our news

Development Bank of Japan key financier of nuclear industry

2011-03-15 | Tokyo, Japan | Finance GreenWatch
blog
external news
our news

‘Nuclear banks no thanks’ coalition demands banks to stop financing nuclear energy

Nuclear disaster in Japan is a sad and urgent reminder of the inherent risks of nuclear energy
2011-03-15 | Nijmegen | BankTrack
blog
external news
our news

BNP Paribas releases new policy on nuclear financing

Financing of Angra III and -possibly- Jaitapur plants shows hypocricy of effort
2011-02-15 | Paris | Les Amis de la Terre
blog
external news
our news

US embassy cables: More troubles at Bulgarian nuclear power plant

2010-12-20 | The Guardian
blog
external news
our news

India to build nuclear reactors in earthquake zone with help from BNP Paribas

2010-12-06 | Paris | Greenpeace International
blog
external news
our news

Thousands protest against French-backed Indian nuclear plant

2010-12-04 | The Times of India
blog
external news
our news

Bulgaria Picks HSBC for Belene Nuclear Plant Consultant

2010-11-16 | Bulgaria | Novinite
blog
external news
our news

Enel green power fails to light up Milan, Madrid bourses

2010-11-04 | Madrid
blog
external news
our news

Greenpeace tells BNP-Paribas ‘stop dangerous radioactive investments’

2010-10-21 | Paris | Greenpeace
blog
external news
our news

China, South Africa in talks on nuclear power cooperation

2010-08-24 | Beijing | Fox Business
blog
external news
our news

Bank financing of nuclear power exposed on NGO site

2010-05-27 | international | Environmental Finance
blog
external news
our news

BankTrack calls on banks to stop funding nuclear power

New website exposes nuclear secrets of commercial banks
2010-05-26 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

German energy giant RWE withdraws from Bulgarian nuclear power plant

no financiers left for dangerous reactor
2009-10-28 | Sassenberg, Germany | Urgewald
blog
external news
our news

EPR : Les banques françaises portent à bout de bras un fiasco industriel

2009-10-16 | Paris, France | Les Amis de la Terre
blog
external news
our news

Cernavoda nuclear reactor too dangerous to build, says new report

Greenpeace calls on Romanian government to shelve the project
2009-03-10 | Bucharest | Greenpeace International
blog
external news
our news

Greenpeace files illegal state aid complaint for construction of nuclear plants in Romania and Bulgaria

2009-02-25 | Brussels | Friends of the Earth Europe
blog
external news
our news

RWE's reputation on the line with 1.5 billion euro stake in Bulgarian nuclear plant

2008-10-07 | Sofia, Bulgaria | Urgewald
blog
external news
our news

New Friends of the Earth Ad Ties Nuclear Loan Guarantees to Bush Bailout

2008-09-30 | Washington DC | Friends of the Earth US
blog
external news
our news

ING Withdraws from Slovak Nuclear Project

Mochovce 3 and 4 too risky
2008-01-29 | Amsterdam / Brussels | Urgewald
blog
external news
our news

Say No to Belene Nuclear Plant!

2007-11-20 | Europe | Urgewald
blog
external news
our news

Greenpeace study warns Cernavoda inhabitants of tritium dangers from nuclear power plant

Environmental group demands the Romanian Government to look at sustainable alternatives to nuclear power
2007-10-31 | Bucharest | Greenpeace International
blog
external news
our news

Europe-wide Protests against BNP Paribas

BNP Paribas must say No to the Belene Nuclear Power Plant
2007-06-05 | Europe | Les Amis de la Terre
blog
external news
our news

European banks withdraw from Belene nuclear power project

UniCredit Group, HVB and Deutsche Bank think Bulgarian project too risky
2006-10-20 | Berlin, Prague, Vienna, Sofia, Milan | Urgewald
blog
external news
our news

UniCredito faces Europe-wide protests over Bulgarian Nuclear Plant

2006-10-13 | Around Europe | Urgewald

Documents

| | | | | | | | | | | |
Type:
Year:
csr policies
2016-11-05 00:00:00

Position statement on nuclear power

2016-11-05 00:00:00 | Standard Chartered
correspondence
2013-04-26 00:00:00

Letter to Société Générale on Baltic NPP

2013-04-26 00:00:00 | 94 organisations
bank documents
2013-02-05 00:00:00

French financial institutions energy guidance notes

2013-02-05 00:00:00 | ORSE
csr policies
2012-12-20 00:00:00

CSR Sector Policy - Nuclear

2012-12-20 00:00:00 | Crédit Agricole CIB
csr policies
2012-06-14 00:00:00

Summary of Nuclear Power Guidelines

2012-06-14 00:00:00 | Credit Suisse
ngo documents
2012-06-12 00:00:00

Toxic assets: nuclear reactors in the 21st century

2012-06-12 00:00:00 | Greenpeace International
ngo documents
2011-06-30 00:00:00

Uranium from Africa

2011-06-30 00:00:00 | WISE & SOMO
other documents
2011-05-04 00:00:00

Nuclear Power in a Post-Fukushima World

2011-05-04 00:00:00 | WorldWatch Institute
csr policies
2011-01-24 00:00:00

Energy Sector Policy

Reviewed policy. The first version is from June 2006, the second from 2008.
2011-01-24 00:00:00 | HSBC
ngo documents
2010-12-22 00:00:00

"How radioactive is my bank?" (in German)

2010-12-22 00:00:00 | urgewald
our publications
2010-05-25 00:00:00

Nuclear Banks, No Thanks!

2010-05-25 00:00:00 | Greenpeace, urgewald, BankTrack, other NGOs
other documents
2010-05-24 00:00:00

Financing of the nuclear energy sector

2010-05-24 00:00:00 | Greenpeace, urgewald, BankTrack, other NGOs
csr policies
2010-01-18 00:00:00

Nuclear energy policy KBC asset management

2010-01-18 00:00:00 | KBC
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 8: Quit Nuclear Power – invest in the Energy [R]evolution!

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 7: reputational risks

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 6: A hazardous obstacle to clean solutions

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 5: regulatory risks

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 4: decommissioning rights

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 3: operational risks

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 2: financing risks

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-10-20 00:00:00

Dossier nuclear power part 1: construction risks

2009-10-20 00:00:00 | Greenpeace
ngo documents
2009-04-20 00:00:00

Uncertainty and high economic risk, the net present value of an investment in nuclear power

2009-04-20 00:00:00 | Greenpeace
ngo documents
2008-05-20 00:00:00

Voodoo Economics and the Doomed Nuclear Rennaisance

2008-05-20 00:00:00 | Friends of the Earth UK
ngo documents
2008-05-01 00:00:00

Beleggers op hete kolen: Een kritische doorlichting van de klimaatfondsen op de Belgische markt (in Dutch)

2008-05-01 00:00:00 | Netwerk Vlaanderen
bank documents
2008-03-14 00:00:00

Energy financing overview - including nuclear energy

2008-03-14 00:00:00 | Fortis
ngo documents
2008-03-01 00:00:00

Mined U: Financing of new uranium mines

2008-03-01 00:00:00 | WISE
ngo documents
2007-12-01 00:00:00

Nuclear power: undermining action on climate change

2007-12-01 00:00:00 | Greenpeace
ngo documents
2007-11-01 00:00:00

Saving the Climate: Quit Nuclear Madness – Energy Revolution Now!

2007-11-01 00:00:00 | Greenpeace
ngo documents
2007-11-01 00:00:00

The economics of nuclear power: Report

2007-11-01 00:00:00 | Greenpeace
ngo documents
2007-11-01 00:00:00

The economics of nuclear power: Summary

2007-11-01 00:00:00 | Greenpeace

Media

Tell BNP Paribas: STOP dangerous nuclear investments






Video links

http://www.bloomberg.com/video/68371126/

Links

nuclear banks no thanks

joint campaign website of BankTrack and partners
http://www.nuclearbanks.org
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