Apr 232014
 

 By Ryan Brightwell, BankTrack, 23 April 2014

As the Royal Bank of Scotland released its Sustainability Review last week, Scotland’s Herald newspaper reported that the state-owned bank “aims to lead from the front on ethical banking” – although it admitted that it could take them up to five years to get there.

This is quite an ambition for any bank, and especially for one whose financing for Canadian tar sands led to the bank being singled out for occupation by Climate Camp activists in 2010; whose financed emissions (i.e. the emissions supported by the bank’s lending) were recently estimated by World Development Movement to be up to 1.6 times the emissions of the whole of the UK; and which was shown by recent research to be the UK’s biggest financier of the coal mining industry.

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Apr 142014
 

 The French banking giant claims to be “combatting climate change”, yet it is the only international private sector bank supporting India’s devastating new “Ultra Mega” Tata Mundra coal power plant. By Yann Louvel, Climate and Energy Campaign Coordinator, BankTrack, 14 April 2014

The Intergovernmental Panel on Climate Change’s (IPCC) has just launched its  5th assessment report on climate change mitigation in Berlin, the most comprehensive assessment of potential solutions to the climate crisis yet seen. It clearly shows that we can stop the worst of climate change by transforming our energy systems, and that for this we must shift the patterns of investments in the energy sector now.

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Apr 132014
 

 By Amanda Starbuck, , on April 13 2014, originally published on RAN’s “The Understory” blog

This could be the tipping point for the horrific practice of Mountaintop Removal coal mining.

Just this week, JPMorgan Chase updated its environmental policy, revealing that it will be ending financial relationships with Mountaintop Removal coal mining companies.

Wells Fargo and BNP Paribas/Bank of the West have recently taken similar steps. If the other major banks commit to stop financing mountaintop removal, fossil fuel companies will have no choice but to end the obliteration of mountains and poisoning of communities for coal.

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