Feb 252016

By Kuba Gogolewski, Development YES Open-Pit Mines NO, 25th February 2016.

In spite of the Paris Agreement and the European Union’s 2030 greenhouse gas emissions reduction target, Polish state-owned and private companies are pushing on with plans to develop a string of new open-pit lignite mines.

And while local communities on the front line of these potentially destructive projects continue to resist them, many well-known banking names – including some which have recently made encouraging, if belated, moves towards the coal finance exit doors – remain anchored in the Polish coal sector, and appear more than willing to prop up an industry which now appears to be on its last legs. Continue reading »

Feb 172016

By Ryan Brightwell, BankTrack, 17th February 2016.

As Facing Finance launches its 4th edition of the Dirty Profits report exposing companies and financial institutions benefiting from violations of human rights, BankTrack examines why banks are not making more progress towards meeting the human rights responsibilities established by the UN.

While the UN Guiding Principles on Business and Human Rights are not perfect, their full adoption by the banking sector could spur real progress in business adherence to human rights standards across the board, making corporate activities which cause human rights abuses less likely to find the finance they need to proceed, and providing more avenues for victims to seek justice. Yet four years on from the endorsement of the Guiding Principles by the UN Human Rights Council, banks are still a long way from fully adopting them.

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Feb 022016

 Bangladesh’s Rampal moves forward, as bank interest in the Dominican Republic’s Punta Catalina plant and Indonesia’s Tanjong Jati B raises concerns over the strength of their climate commitments

By Greig Aitken and Yann Louvel, BankTrack, 4 February 2016

As we’ve been settling into the new year and wondering how visible and – crucially – rapid any genuine follow through from the words of the Paris climate summit would be, there’s been a nagging concern at the back of our minds: in what’s supposed to be these new, ambitious ‘1.5 degree Celsius limit’ times, what’s going to be the first major new coal installation investment of 2016, and who’s going to be bankrolling it?

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