Major ‘coal banks’ refuse to stop financing coal power boom in Asia
New research published today by the End Coal Finance coalition suggests commercial banks are prepared to finance a wave of new coal power projects across Asia. The coalition – initiated by BankTrack, Inclusive Development International, and Recourse – has identified 44 new coal power projects currently in the pipeline in Asia, and 98 commercial banks […]
German government calls on Heidelberg Materials to disclose environmental and social risk assessment for Indonesia mine
Germany’s OECD National Contact Point for Responsible Business Conduct has issued a statement responding to complaints over Heidelberg Materials’ controversial plans to construct a cement mine and factory in Central Java.
Joint Civil Society Recommendations to the UN Secretary-General’s Panel on Critical Energy Transition Minerals
Inclusive Development International has joined more than 230 civil society organizations in endorsing a set of recommendations to the UN Secretary-General’s Panel on Critical Energy Transition Minerals, to guide its efforts to ensure that the process of supplying minerals needed to phase out fossil fuels is both rapid and just. These recommendations were developed in […]
Policy gaps allow World Bank Group to indirectly finance captive coal
Laborers in the nickel industry in Indonesia Morowali Industrial Park (PT. IMIP), by Esa Setiawan/ Trend Asia. A new analysis, published today by Recourse, Trend Asia and Inclusive Development International, demonstrates that publicly-funded Multilateral Development Banks are at risk of funding a wave of ‘captive’ coal expansion in climate-vulnerable countries, despite commitments to shift funds […]
UK’s Standard Chartered assailed for financing Philippines coal boom
Photo: The Mariveles Coal Power Plant, one of four financed by Standard Chartered. Photo: P199, CC BY-SA 4.0, via Wikimedia Commons Key Points: Human rights and environmental advocates filed a formal complaint with the UK government this week accusing Standard Chartered bank of contributing to human rights violations and failing to provide remediation for harms […]
Mitsubishi UFJ Financial Group Joins Growing List of Banks Distancing Themselves from East African Crude Oil Pipeline
In a significant development, Japan’s Mitsubishi UFJ Financial Group (MUFG) announced its non-involvement in financing the controversial East African Crude Oil Pipeline (EACOP). The decision comes in response to mounting pressure from climate activists and the StopEACOP coalition, highlighting concerns over the project’s impact on climate, nature, and human rights. MUFG’s withdrawal follows that of […]
Organizational Sign-On Letter Calling for the Release of Dang Dinh Bach and Support of Civil Society in Vietnam’s Just Energy Transition
Dear Supporters of a Just Energy Transition and Sustainable Development in Vietnam, We, the undersigned climate justice and human rights advocates worldwide, call for the immediate release of prominent environmental lawyer, Dang Dinh Bach, who is serving a five year prison sentence in Vietnam on trumped-up tax evasion charges after advocating for the country’s movement […]
SMBC Ends Involvement as EACOP Financial Advisor, Taking a Stance Against Controversial Project
The StopEACOP coalition celebrates Sumitomo Mitsui Financial Group’s (SMBC Group) recent declaration of non-involvement in the East African crude oil pipeline project (EACOP). SMBC’s decision comes on the heels of Standard Chartered Bank’s similar announcement, highlighting the growing concerns over climate change, the environmental impact associated with the project and the impact on frontline communities. This […]
Standard Chartered Takes a Stand: Refuses to Finance Controversial East African Crude Oil Pipeline
Standard Chartered’s recent decision not to finance the $5 billion East African Crude Oil Pipeline (EACOP) project, led by TotalEnergies, is a significant victory for the impacted communities and climate activists worldwide. The project has already resulted in violence, intimidation, and land use restrictions for project-affected people and frontline activists. The compensatory processes for the […]
Activists Call on AIG to Disavow Insurance Coverage of East African Crude Oil Pipeline
Outside of American International Group Inc.’s (AIG) headquarters, activists from Public Citizen, Climate Families NYC, Sunrise Movement NYC, and other groups called on the insurance giant to publicly commit not to provide coverage for the East African Crude Oil Pipeline (EACOP). As part of the action, the groups delivered over 50,000 petitions collected by Ekō, […]