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Author Topic: New Fossil Banks No Thanks  (Read 40 times)

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AGelbert

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New Fossil Banks No Thanks
« on: June 01, 2021, 09:14:22 pm »


New 🦖 Fossil 😈 Banks No Thanks platform launched


BankTrack, May 17, 2021

BankTrack has launched www.fossilbanks.org, a new campaign platform that brings together
organisations and campaigns from all over the world pressuring commercial banks to stop
financing the 🦖 fossil fuel industry. The Fossil Banks No Thanks platform aims to present the
global resistance to bank financing for fossil fuels. It features a Global Call on Banks to stop
financing the fossil fuel industry, which on the launch of the website is already supported by 50
organisations from 19 countries.

Furthermore, the website on its launch already showcases 29 organisations and campaigns from
11 countries that are actively campaigning against fossil banks, a number that is expected to
grow significantly over the next few months.   

Read more:
Light is sown for the righteous, and gladness for the upright in heart. Ps. 97:11

AGelbert

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MAY 2021

Banks in this digest 👉 Barclays Deutsche Bank FMO HSBC
JPMorgan Chase MUFG SMBC Standard Bank Standard Chartered


Dear Anthony,

Welcome to BankTrack’s May news digest. It has, of course, been a
momentous month for the oil and gas industry. First, the IEA’s Net Zero
scenario reinforced what civil society groups, based on rigorous
research, have been saying for years - there is no room for new oil and
 gas if we’re going to head off a climate catastrophe. For banks,
financing fossil fuel expansion has now become indefensible.

Then May 26th - the day Shell was hit by a court ruling ordering it to
reduce its emissions by 45% before 2030, and Chevron and Exxon were
brought to heel by activist investors - maybe one of the worsts day in
Big Oil’s history, and a day in which the Paris goals felt tangibly closer.

At BankTrack, following months of preparation, we launched our new
Fossil Banks No Thanks platform on May 17th. The campaign platform
brings together organisations and campaigns from all over the world to
present the global resistance to bank financing for fossil fuels. The
platform already features 33 groups and campaigns actively working to
 stop bank finance for fossil fuels, and 85 groups from 27 different
countries showing their support for our Global Call on Banks.

May also saw several bank shareholder meetings (AGMs) at which activist
 shareholders including BankTrack raised questions about banks’ fossil fuel
 financing and human rights practices. To highlight two examples, at the
start of the month, Barclays faced a shareholder resolution on fossil fuel
finance and questions from us on its support for illegal settlements; and
at the end of the month Standard Bank faced a barrage of questions on
fossil fuels in general and the East African Crude Oil Pipeline in particular,
while protesters gathered in front of the bank’s headquarters and elsewhere.

Also this month, BankTrack and 23 other organisations sent an open letter to
55 banks globally, calling on the banks to take concrete action to help protect
biodiversity and safeguard the rights of Indigenous and local communities
ahead of the UN Biodiversity Conference in Kunming in October.

Finally on 27th May, BankTrack together with Justice for Myanmar published
new research exposing nine international banks that hold shares worth over
US$24 billion across 18 companies affiliated with the military junta and its
conglomerates in Myanmar.

With best wishes,

The BankTrack Team.

https://www.banktrack.org/article/banks_called_upon_to_take_action_to_protect_biodiversity_ahead_of_un_biodiversity_conference_in_kunming
Light is sown for the righteous, and gladness for the upright in heart. Ps. 97:11

AGelbert

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August 2021 Digest

Dear Anthony,

The publication of Part One of the IPCC’s Sixth Assessment report
at the beginning of August sends yet another clear warning ahead
of the Glasgow climate summit: we don't have another decade to
waste, and only rapid and drastic reductions in greenhouse gases in
this decade can prevent climate breakdown. The IPCC warns that
temperatures are likely to rise by more than 1.5C, bringing
widespread extreme weather. As climate catastrophes continue to
be more and more frequent in every corner of the globe, banks are,
however, far from taking the action needed to avoid climate collapse.

This month we learned Deutsche Bank, JPMorgan Chase, and
Standard Chartered participated in a massive USD 1 billion loan to
Adani Enterprises, a subsidiary of the Adani Group, which is building
what would be the biggest coal mine in Australia, the Carmichael
thermal coal project.


This project would add billions of tonnes of CO2
into the atmosphere, destroying the land and culture
of the Wangan and Jagalingou people,
increasing shipping through the Great Barrier Reef, and
opening up the Galilee Basin.


Meanwhile, the world's biggest carbon sink is crossing the tipping
point: according to scientists, the Amazon rainforest now emits
more carbon dioxide than it absorbs. And the best guardians of the
forest, Indigenous Peoples, are under serious threat. This month,
the Forests & Finance coalition warned investors about the risk and
the irreversible consequences of the anti-environment and anti-social
 legislative agenda in the Brazilian Congress in a letter sent to 80
financial institutions.

Also in this month's newsletter, bank ties to companies supporting
the military junta in Myanmar are deeper than first thought. And a
new dodgy deal on Okavango oil & gas drilling in Namibia &
Botswana, affecting a biodiverse area that is home to Africa's
largest remaining population of savanna elephants and other
threatened megafauna species.

With best wishes,

The BankTrack Team.

Read more:
Banks break promise and loan US$1 billion to Adani coal miner

Forests & Finance Coalition warns foreign investors

East African Crude Oil Pipeline: new update on risks



Central banks    still fueling climate crisis

Oil Change International, Aug 24, 2021

Central banks could play a critical role in catalyzing the rapid shift of
financial flows away from oil, fossil gas, and coal. However, to date,
central banks have instead tinkered at the edges, a new report by Oil
Change International finds. Read more...
Light is sown for the righteous, and gladness for the upright in heart. Ps. 97:11

 

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