23 October 2021
On Friday morning, executives at Deutsche Bank awoke to a half-page advertisement on page 7 of Handelsblatt, a major newspaper popular in Germany’s financial world.
The ad, coordinated by Market Forces, exposes Deutsche Bank for reportedly preparing to arrange finance for climate-wrecking coal company Whitehaven Coal.
To run the ad, we collaborated with nine other organisations from Australia and Germany, to send a powerful message to Deutsche Bank that supporting companies expanding the dirty coal industry is toxic for its brand.
Deutsche Bank’s own Environmental and Social Policy Framework says the bank “will not provide any financing for greenfield thermal coal mining” and is committed to “phase out coal exposure by 2025 worldwide” .
Yet Whitehaven is planning to spend around $2 billion on three new and expanded thermal coal mines (Narrabri South, Winchester South, Vickery). When emissions from digging up and burning the coal are added, over their lifetimes these three mines would unleash almost 1.1 billion tonnes of carbon emissions, the equivalent of almost twice Australia’s annual emissions .
Help us to keep the pressure on, by sharing the ad on Deutsche Bank’s social media channels.
Tell Deutsche Bank to stop funding Whitehaven Coal
Share the ad on Deutsche Bank’s social media pages!
Deutsche Bank, like most big companies, is incredibly sensitive to its reputation on social media. Posting the ad on Deutsche Bank’s own social media pages is a great way to deliver our message.
Step 1: Copy the image below and save it to your computer:
Step 2: Paste the image as a comment on Deutsche Bank’s recent social media posts:
Click the image below to be taken to Deutsche Bank’s recent Twitter post:
Click the image below to be taken to Deutsche Bank’s recent Facebook post:
Click the image below to be taken to Deutsche Bank’s recent LinkedIn post:
If you want to leave an additional written comment, keep it polite, personalised and to the point. The bank will be more likely to listen to us if we’re respectful and clear in our ask. Make sure you ask Deutsche Bank to take no further part in arranging finance for Whitehaven Coal. Some other things you might want to point out:
- Deutsche Bank is reportedly preparing to arrange finance for Whitehaven Coal, after the bank recently arranged an investor roadshow for the coal mining company.
- Whitehaven’s plans to massively expand the coal industry are completely at odds with net-zero by 2050 and the Paris Agreement’s goal of limiting global warming to 1.5ºC.
- Scientists say limiting global warming to 1.5ºC means 95% of Australia’s coal must stay in the ground. Meanwhile, the International Energy Agency says achieving net-zero emissions by 2050 means “no new coal mines or mine extensions”.
- Whitehaven is planning to spend around $2 billion on three new coal mines and expansions (Vickery, Narrabri Stage 3 and Winchester South).
- When emissions from digging up and burning the coal are added, over their lifetimes these three mines would unleash almost 1.1 billion tonnes of carbon emissions, the equivalent of almost twice Australia’s annual emissions.
You can find more information about on our dedicated Whitehaven web page.