Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2023-02-07 00:00:00
What COP15 means for banks: meeting the Global Biodiversity Framework requires protecting Indigenous rights and divesting from harmful industries
2023-01-23 00:00:00
Berta Cáceres: new rules for banks could help stop defender killings
2023-01-16 00:00:00
In the balance: Why European due diligence legislation must cover financial services
2022-12-08 00:00:00
Exposed: Western banks funding Qatar’s carbon bombs
2022-12-14 11:08:26
HSBC announces it will no longer finance new oil and gas fields
2022-10-13 15:56:39
More major banks and insurers refuse to support EACOP
2022-09-16 10:38:48
European Parliament passes emergency resolution against human rights violations & environmental threats linked to EACOP
2022-06-27 09:49:16
Crédit Agricole takes first step to phase out from the oil and gas sector
Connect
2022-11-22 00:00:00
Banking on Thin Ice: Two years in the heat
2022-11-17 00:00:00
BankTrack Global Human Rights Benchmark 2022
2022-10-21 00:00:00
Burning forests in the name of clean energy? How banks are failing to exclude the harmful wood biomass industry from finance
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › Successes
ING stops financing new coal power plant in Dominican Republic
Start
Banks
Dodgy Deals

By: Eerlijke Bankwijzer
2018-08-01
The Hague

Contact:

Jolanda van Santen, Oxfam Novib, jolanda.van.santen@oxfamnovib.nl, 06-22388699


Share this page:

Dominicans have mobilised en masse against Punta Catalina corruption. Photo: Dominican National Committee to Combat Climate Change (CNLCC)
Go to:
Start
Related Banks
Related Dodgy Deals

ING has stopped financing a new coal-fired power plant in the Dominican Republic, the bank informed the Dutch Fair Bank Guide today. The Fair Bank Guide welcomes ING's decision. The Fair Bank Guide, in collaboration with BankTrack and Greenpeace, has been calling ING for years to stop financing two new coal-fired plants, Punta Catalina and Cirebon in Indonesia.

ING sold its stake in the Punta Catalina coal-fired power plant on 13 July. With this decision, the bank wants to give further substance to the tightening of its coal policy in December 2017.

The construction of the new coal-fired power station in the Dominican Republic is surrounded by corruption scandals. The local population and local community organizations have been protesting for years against its construction, due to concerns about corruption and climate change. Critical questions were asked in the Dutch parliament at the end of last year about ING's financing of the Punta Catalina coal-fired power plant.

Peter Ras, project manager for the Fair Bank Guide, said: "ING's decision not to grant any further funding to the new coal-fired power station in the Dominican Republic is good news. The Fair Bank Guide finds it very important that banks stop all investments in coal companies. And reduce their financing for fossil energy companies in favour of financing sustainable energy. We hope that ING will also discontinue its financing of the new coal-fired power station in Indonesia, where the local population is also seriously concerned for its health and climate impacts."

Research by the Fair Bank Guide in November 2015 showed that ING invested eight times more in fossil energy companies than in sustainable energy companies. Of its loans to energy companies in the period 2009 - 2014, 89% went to the fossil energy sector. In total, during this period ING financed US$ 24.5 billion in fossil energy companies and energy generation, including coal companies. In contrast, the bank’s financed to renewable energy companies in the same period amounted to only only US$ 2.9 billion. ING has since tightened its policy towards the coal sector, and the Fair Bank Guide will publish a new study into banks’ energy sector investments in November 2018.

Go to:
Start
Related Banks
Related Dodgy Deals

Related banks

ING Netherlands

active
Go to:
Start
Related Banks
Related Dodgy Deals

Related Dodgy Deals

Projects

There are no projects active for this item now.
on record

Punta Catalina-Hatillo coal power plant Dominican Republic

Coal Electric Power Generation
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted