Sep 082016
 
By Lucie Pinson, Friends of the Earth France, and Yann Louvel, BankTrack, 8 September 2016

With November’s COP 22 meeting in Marrakech fast approaching, the commitments made by French banks in 2015 à propos their financing of the coal sector are being seen for what they are: highly mixed. For one thing, Natixis confirmed, in its first such publicly declared sectoral policy, that it is ending project financing for all new coal plants – worldwide. Yet, in an indication of gaping flaws in their climate commitments adopted just before COP 21 in Paris last year, Crédit Agricole and Société Générale are involving themselves in several coal power projects, most notably in Indonesia.

Friends of the Earth France and BankTrack believe that Crédit Agricole and Société Générale must immediately withdraw from projects which are inconsistent with the Paris Agreement, and they must also, along with BNP Paribas, face up to and engage in forthcoming climate events by bringing a definitive end to all of their financing for coal projects. Continue reading »

Jun 202016
 
By Yann Louvel and Greig Aitken, BankTrack, 20 June 2016

The dust has now settled on this year’s bank AGM season in Europe. However, with new, progressive coal financing policy announcements thin on the ground, it’s been more a case of the dust gathering on the coal finance toolkits of most of Europe’s big banking names. And this in spite of the usual concerted advocacy from coal campaigners and the growing urgency for the banks to quit coal.

BankTrack issued five new coal banks briefings for the 2016 AGM season, analysing the advances which took place last year in the coal policies of banks such as Crédit Agricole and Royal Bank of Scotland, and pointing out some of the loopholes which remain with the potential to leave a host of climate destructive investments firmly on the banks’ radar. Continue reading »

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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Apr 102015
 
By Yann Louvel and Greig Aitken, BankTrack, 10 April 2015

Just a couple of days ago we were bravo-ing BNP Paribas as it and fellow French banks Crédit Agricole and Société Générale confirmed they have ruled out financing for highly controversial coal mine projects in Australia’s Galilee Basin. Whether this shunning of major coal financing will be a watershed moment for the French banks remains to be seen. Along with our colleagues at Friends of the Earth France, who’ve set up a petition site for French bank customers to urge their banks to commit to end all coal sector financing by the end of this year, we’re certainly intent on keeping up the pressure following this big Gallic Galilee success. Continue reading »

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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