September 2020 In the wake of the fiercest storm Bangladesh has experienced this century, Japanese financial institutions and coal developers are trying to push three new coal power stations, fuelling extreme weather and climate change. Locals on remote Matarbari Island on the southeastern coast of Bangladesh are still dealing with … Read More
Op-ed: HSBC lags as finance cleans up Asian energy
HSBC lags as finance cleans up on Asian energy Op-ed by Munira Chowdhury, Analyst, Market Forces Published in Asia Times, 22 January 2020 Last week marked a significant milestone in the financial sector’s ever-increasing rejection of coal, as the world’s largest fund manager BlackRock, with more than US$6.5 trillion assets … Read More
Choked by Coal: the Carbon Catastrophe in Bangladesh
New analysis shows China, UK and Japan driving 63-fold coal power expansion in Bangladesh Media Release: 6 November 2019 Massive coal-based power expansion in Bangladesh is set to propel it into the ranks of the world’s worst polluters, says a major new report out today. The expansion not only threatens … Read More
HSBC bosses spin yet more climate rhetoric on coal finance for developing countries
A full-page ad in the UK’s biggest business newspaper, a protest and plenty of deservedly tough questions. HSBC’s AGM had it all. 15 April 2019 Last Friday marked HSBC’s 2019 annual general meeting (AGM) and a year since the bank shamefully decided to leave the door open to funding new … Read More
HSBC’s cynical coal policy leaves Bangladesh, Vietnam and Indonesia open for business
HSBC’s coal power policy, released at its April 2018 AGM, boldly states it will not finance new coal-fired power plants, with some exceptions. It will still finance projects in Bangladesh, Vietnam and Indonesia, with further limits on the carbon intensity and financial close dates of the projects. 23 January 2019 … Read More