Feb 172015
 

 By Merel van der Mark, BankTrack, 17 February 2015. 

Despite ongoing rainforest clearance, APRIL and its affiliate companies in the Royal Golden Eagle group do not seem to have any problems in finding money to support their activities.

UPDATE: On 26th February, Santander announced that it would stop financing APRIL until the company implemented “new sustainability measures which address its involvement with deforestation”. 

UPDATE 2: On 6th March, ABN Amro made a similar announcement

Greenpeace last week launched a major campaign against Santander for its role in financing APRIL (Asia Pacific Resources International Limited), the Indonesian pulp and paper producer described by Greenpeace as “Indonesia’s biggest forest destroyer”. Santander has been singled out for good reasons, but it is not alone in financing the company.

Between December 2011 and April 2014, APRIL and its affiliate companies secured at least $1.87 billion in financial support through three syndicated loan deals, which involved 22 known banks.

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Feb 132015
 
By Yann Louvel and Greig Aitken, BankTrack, 13 February 2015. 

Global Divestment Day kicks off today, and is set to feature over 400 actions across six continents on Friday and Saturday. Just a week ago, activists received a notable boost: the world’s largest sovereign wealth fund, Norway’s Government Pension Global Fund (GPGF), disclosed that in 2014 it had divested from 32 coal companies. Continue reading »

Feb 132015
 

By Oleg Savistky, National Ecological Center of Ukraine and CEE BankWatch Network, 13 February 2015.

In a street action being held today in Kiev as part of the Global Divestment Day, Ukrainians call on public and private investors to end financing for fossil fuels, in particular coal, and instead invest in renewable energy sources which represent the only independent source for the country.

European commercial banks (such as Deutsche Bank, Uni Credit Bank, ING Bank, Raiffeisen Zentral Bank, Erste Group Bank, RBS and Barclays) are major investors in the coal industry in Ukraine, most notably in the integrated coal and energy company DTEK (see its entry on coalbanks.org).

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Feb 102015
 

Are you ditching fossil fuels by closing your bank account this‪ ‎Divestment Day?

Since this coming Saturday is both Global Divestment Day *and* Valentine’s Day, we’ve designed this beautiful Valentine’s card for you to send your bank. Post it to their Facebook page to let them know your true feelings! Or why not print it and send it in the post with a personalized greeting?

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