Non, merci! Rothschild & Co. walks away from Adani

16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed Carmichael coal … Read More

Japanese megabanks faced with international ad in the Financial Times

NGOs from Vietnam, Indonesia, Japan and around the world have placed a full-page advertisement in the Financial Times today calling for Japanese megabanks – Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Financial Group (Mizuho) – to stop funding coal power. MUFG, SMBC, and Mizuho, along … Read More

Analysis: Singapore banks signal an end to new coal financing

18 April 2019 This week saw Singapore’s two biggest banks -Oversea-Chinese Banking Corporation (OCBC) and DBS – commit to an endpoint for their lending to new coal power plants. On Monday, OCBC CEO Samuel Tsien told media: “We won’t do any new coal-fired power generation plants in any countries, except … Read More

Our Future: clean energy a test for banks’ rehabilitation

Today’s release of the Royal Commission’s report into the financial services industry will chronicle the recent misconduct of the major banks and plot a course for how the industry can restore some integrity. It’s going to be a long road back, but one opportunity for redemption comes in the role banks can play reshaping our energy landscape. 

Standard Chartered tries to have it both ways on coal

Vietnam coal power plant

Op-ed by Julien Vincent, executive director Market Forces Published in Asia Times, 21 January 2019 While 2018 climate-change news was dominated by President Donald Trump’s announcement of the United States’ intention to withdraw from the Paris Climate Agreement, it was also a year when the financial sector continued its inexorable march … Read More