Jakarta, 14 July 2022 – One of the largest United Kingdom banks, Standard Chartered, has confirmed that it is ending investment in Indonesia’s second largest coal producer, PT Adaro Indonesia and other banks need to follow suit in line with their energy and fossil fuel policies. The UK-bank has confirmed … Read More
Adaro Energy: Betting on the failure of global efforts to stop climate change
Adaro Energy Indonesia (Adaro) held its AGM in April 2022, confirming business plans consistent with the failure of the Paris Agreement. Despite evidence to the contrary from the IEA and other experts, the company stated its view that in the long term, the fundamentals for coal are intact and coal … Read More
Westpac makes no apology for continuing to back dirty coal
12 December 2018 Westpac’s hypocrisy – their statements on climate against the reality of their loan book – was a major theme at the big four bank’s annual general meeting today in Perth. And despite supporting the 2015 Paris climate agreement Westpac’s board made no apology for continuing to lend … Read More
ANZ finance the purchase of Rio’s last coal mine
5 April 2018 ANZ has contributed to a US$1.7 billion (AU$2.2 b) deal to finance the purchase of Rio Tinto’s last coal asset by Indonesian coal miner Adaro Energy and private equity manager EMR Capital. The deal comes despite ANZ’s repeated claims that the bank’s lending to coal is on its way … Read More