http://www.banktrack.org/ BankTrack is a global network of civil society organisations and individuals tracking the operations of the private financial sector (commercial banks, investors, insurance companies, pension funds) and its effect on people and the planet. Mon, 28 May 2012 10:26:06 +0200 http://www.banktrack.org/show/news/out_in_the_cold_new_report_on_shell_s_plans_in_the_arctic Shell’s Annual General Meeting tomorrow is unlikely to go calmly. The company’s problems range from anger over excessive executive pay to spills in the Niger delta. At this time, Platform, Greenpeace and FairPensions are putting to scrutiny offshore Arctic exploration as a key direction in the company’s strategy. The new report ‘Out in the Cold – Investor Risk in Shell’s Arctic Exploration’ details Shell’s existing and planned oil exploration and production projects in the offshore… http://www.banktrack.org/show/news/out_in_the_cold_new_report_on_shell_s_plans_in_the_arctic Tue, 22 May 2012 00:00:00 +0200 http://www.banktrack.org/show/news/us_banks_risk_public_health_and_climate_by_financing_coal Today Rainforest Action Network, BankTrack and the Sierra Club released the Coal Finance Report Card 2012, their third annual ranking of the largest financiers of mountaintop removal coal mining and coal-fired power plants. The report looks at the stated policies for mountaintop removal and coal financing from each of the largest US Banks and assigns a letter grade to how well they uphold these policies based on investments, transactions and ownership of coal mining and coal burning utility companies.… http://www.banktrack.org/show/news/us_banks_risk_public_health_and_climate_by_financing_coal Tue, 01 May 2012 00:00:00 +0200 http://www.banktrack.org/show/news/oil_projects_too_far_banks_investors_refuse_finance_for_arctic_oil West LB have decided not to finance oil & gas development projects in the arctic and F & C have dropped Arctic oil explorers Cairn from their ethical portfolio. The German corporate finance & investment bank, West LB, launched a new environmental policy in February and its guidelines are important in relation to the push by oil companies into the Arctic. Speaking about the policy, Dustin Neuneyer, sustainability manager, group development said: “There are projects that are evidently unsustainable… http://www.banktrack.org/show/news/oil_projects_too_far_banks_investors_refuse_finance_for_arctic_oil Tue, 24 Apr 2012 00:00:00 +0200 http://www.banktrack.org/show/news/protestors_condemn_ch_karnchang_over_xayaburi_dam_construction Coinciding with Ch. Karnchang's Annual Shareholders Meeting, dozens of protestors rallied in front of the company's headquarters in Bangkok on Tuesday, demanding a halt to all construction activities occurring on the Xayaburi Dam. Civil society groups and community representatives from villages along the Mekong River inside Thailand traveled hundreds of miles to make their voices heard. Together, their colorful affair helped to articulate the anger felt by many people whose lives and livelihoods… http://www.banktrack.org/show/news/protestors_condemn_ch_karnchang_over_xayaburi_dam_construction Tue, 24 Apr 2012 00:00:00 +0200 http://www.banktrack.org/show/news/unicredit_a_ticking_bomb_on_climate_mitigation Environmental groups[1] that attempt to prevent environmental devastation caused by the Šoštanj coal project in Slovenia[2], financed by the Italian UniCredit banking group, are taken aback when the bank announced its next in line PR exercise to promote its green credentials by endorsing the Natural Capital Declaration[3], in the run up to Rio+20. UniCredit, one of the largest banking groups in the world, operates in 22 countries and holds the `largest investment banking operation in Central Eastern… http://www.banktrack.org/show/news/unicredit_a_ticking_bomb_on_climate_mitigation Thu, 05 Apr 2012 00:00:00 +0200 http://www.banktrack.org/show/news/_nuclear_banks_no_thanks_coalition_welcomes_cancellation_belene_nuclear_plant Yesterday, the Bulgarian government officially announced the cancellation of the Belene nuclear power project. BankTrack and other members of the “Nuclear Banks, No Thanks!” coalition applauds this decision after years of uncertainty around the project. Jan Haverkamp, nuclear expert consultant for Greenpeace, comments : “We are extremely happy that Bulgaria finally pulled the plug from the Belene nuclear power project. The power station was to be built in a seismic active zone, where in 1977… http://www.banktrack.org/show/news/_nuclear_banks_no_thanks_coalition_welcomes_cancellation_belene_nuclear_plant Thu, 29 Mar 2012 00:00:00 +0200 http://www.banktrack.org/show/news/equator_principles_iii_better_be_good The Equator Principles Association (Association) this week announced a new delay in the release of the third version of the Equator Principles (EPIII). In a brief statement, the Association stated that it is “continuing internal discussions with its members on the first draft of EP III and as a result the overall timeline for the EP III Update process has been extended again” The release of EPIII is now foreseen for October 2012, but “The timeline might be subject to further extension if deemed… http://www.banktrack.org/show/news/equator_principles_iii_better_be_good Thu, 29 Mar 2012 00:00:00 +0200 http://www.banktrack.org/show/news/banco_santander_ranked_second_in_the_spanish_armed_banking Delàs Center of Peace Studies, Observatorio de la Deuda en la Globalización (ODG-Debtwatch) and SETEM, united for the campaign "Banco Santander without weapons", reveal that Banco Santander is the second Spanish bank contributing to the arms industry. Next Friday the 30th, in Santander (Cantabria), SETEM, Centre Delàs of Peace and Justice Studies and ODG, members of the campaign "Banco Santander without weapons", will denounce the Board of Shareholders of the Banco Santander for being the second… http://www.banktrack.org/show/news/banco_santander_ranked_second_in_the_spanish_armed_banking Wed, 28 Mar 2012 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_welcomes_the_withdrawal_of_bank_austria_from_the_mochovce_nuclear_power_plant Bank Austria, the Austrian subsidiary of the Italian UniCredit banking group, has confirmed that by mutual agreement it will terminate a financial facility granted to Slovenske Elektrarne (SE). SE will be the operator of the Mochovce nuclear reactors 3 & 4, currently under construction. The confirmation came after enquiries by Global 2000 (Friends of the Earth Austria) and Greenpeace. "Slovenske Elektrarne has boasted in public presentations that the credit provided by private banks for its ongoing… http://www.banktrack.org/show/news/banktrack_welcomes_the_withdrawal_of_bank_austria_from_the_mochovce_nuclear_power_plant Thu, 15 Mar 2012 00:00:00 +0100 http://www.banktrack.org/show/news/heritage_before_hydropower_petition_to_unesco_on_ilisu_dam_launched (Zurich, Berlin, Vienna - 14.3.2012) On the occasion of today's International Day of Action for Rivers an international coalition of environmental and human rights organisations launches a petition to UNESCO to become active in protecting potential World Heritage Sites which are under threat due to the construction of the Ilisu Dam in Turkey. For the first time initiatives from Turkey, Iraq and Iran engage jointly in the protection of their natural and cultural heritage. The transnational alliance… http://www.banktrack.org/show/news/heritage_before_hydropower_petition_to_unesco_on_ilisu_dam_launched Wed, 14 Mar 2012 00:00:00 +0100 http://www.banktrack.org/show/news/ilo_says_brazil_violated_convention_169_in_belo_monte_case A report released by the Committee of Experts on the Application of Conventions and Recommendations for the International Labor Organization (ILO) found the Brazilian government directly violated the rights of indigenous communities in the Xingu region of the Amazon while plowing forward with the controversial Belo Monte Dam project. The report shows that by failing to conduct indigenous hearings in villages impacted by the Belo Monte Dam prior to approving the project's construction, Brazil violated… http://www.banktrack.org/show/news/ilo_says_brazil_violated_convention_169_in_belo_monte_case Wed, 07 Mar 2012 00:00:00 +0100 http://www.banktrack.org/show/news/don_t_bank_on_the_bomb A groundbreaking report released today by ICAN identifies more than 300 banks, pension funds, insurance companies and asset managers in 30 countries with substantial investments in nuclear arms producers. View the report at www.dontbankonthebomb.com. The 180-page study, Don't Bank on the Bomb, provides details of financial transactions with 20 companies that are heavily involved in the manufacture, maintenance and modernization of US, British, French and Indian nuclear forces. Divesting from Nuclear… http://www.banktrack.org/show/news/don_t_bank_on_the_bomb Mon, 05 Mar 2012 00:00:00 +0100 http://www.banktrack.org/show/news/us_export_import_bank_exim_and_edc_of_canada_will_not_finance_barrick_s_pascua_lama_gold_mining_project US Export-Import Bank (Exim) and Export Development Canada (EDC), two of the world's largest publicly funded development finance institutions, will not be contributing to the highly controversial Pascua Lama gold mining project straddling the border between Argentina and Chile. The project has already and will further destroy glaciers to get at gold mineral deposits if it gets underway, affecting the water supply for indigenous communities and small agriculture in Chile as well as an internationally… http://www.banktrack.org/show/news/us_export_import_bank_exim_and_edc_of_canada_will_not_finance_barrick_s_pascua_lama_gold_mining_project Fri, 02 Mar 2012 00:00:00 +0100 http://www.banktrack.org/show/news/thailand_defies_neighbors_on_contentious_xayaburi_dam Bangkok, Thailand - As the governments of the Mekong region continue to deliberate on the proposed Xayaburi Dam in Laos, the Thai government has defied the regional decision-making process and pushed ahead with the project's implementation. Recent oversight hearings by the Thai Senate and the National Human Rights Commission confirm that the government has joined Laos in concluding that the regional process is complete, thereby allowing Thai developer Ch. Karnchang to proceed with construction.… http://www.banktrack.org/show/news/thailand_defies_neighbors_on_contentious_xayaburi_dam Wed, 29 Feb 2012 00:00:00 +0100 http://www.banktrack.org/show/news/new_investor_brief_exposes_china_national_petroleum_corporation_s_lack_of_mechanism_for_addressing_environmental_and_social_risks Friends of the Earth today released Crude beginnings, a new investor brief  on the environmental and social risks associated with China National Petroleum Corporation, one of the world's biggest oil companies.CNPC, China's leading oil and gas producer and supplier, is rapidly increasing its global footprint, and operates in dozens of countries around the world. The report, Crude beginnings, is among the first to assess the company's overseas environmental and social risks, as well as the company's… http://www.banktrack.org/show/news/new_investor_brief_exposes_china_national_petroleum_corporation_s_lack_of_mechanism_for_addressing_environmental_and_social_risks Fri, 17 Feb 2012 00:00:00 +0100 http://www.banktrack.org/show/news/if_you_want_your_reputation_to_go_downhill_invest_in_northern_caucasus_resorts_ At this year's World Economic Forum in Davos, which closed its doors yesterday, one of the hot debates was that capitalism, in its current form, no longer fits the world around us. An obvious example of  capitalism going in the wrong direction is the project plan of the Russian state company OJSC "Northern Caucasus Resorts" to turn the Northern Caucasus Region into a $15 billion tourism cluster area, covered by a network of high-end mountain ski resorts.The quest for European and Asian investors… http://www.banktrack.org/show/news/if_you_want_your_reputation_to_go_downhill_invest_in_northern_caucasus_resorts_ Mon, 30 Jan 2012 00:00:00 +0100 http://www.banktrack.org/show/news/xayaburi_dam_what_next_ On December 8th, we watched the future of the Mekong River hang by the threads of a single meeting. Government ministers from Cambodia, Laos, Thailand, and Vietnam met to decide whether to approve Laos' controversial Xayaburi Dam, the first of 12 large dams across the Mainstream Mekong River. Scientists warn that the dams would decimate the Mekong River's fish population and threaten the food security of more than 2 million people, but the projects have crept forward nonetheless. After hours of… http://www.banktrack.org/show/news/xayaburi_dam_what_next_ Thu, 19 Jan 2012 00:00:00 +0100 http://www.banktrack.org/show/news/president_obama_rejects_the_keystone_xl_pipeline Administration deals a blow to Big Oil and its cronies in Congress, takes a stand for Americans' health and livelihoods, and a safe climate Today, the Obama administration rejected the permit for the Keystone XL tar sands oil pipeline sought by Canadian oil firm TransCanada, determining that the project was not in the national interest. "President Obama has shown bold leadership in standing up to Big Oil and rejecting the Keystone XL pipeline," said Erich Pica, president of Friends of the Earth.… http://www.banktrack.org/show/news/president_obama_rejects_the_keystone_xl_pipeline Wed, 18 Jan 2012 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_european_banks_fuelling_food_price_volatility_and_hunger European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on  food prices and financing land grabs in poorer countries, according to a  new report released today (January 12) by Friends of the Earth Europe. [1]The report analyses the activities of 29 European banks, pension funds and insurance companies, including Deutsche Bank, Barclays, RBS, Allianz, BNP Paribas, AXA, HSBC, Generali, Allianz, Unicredit and Credit Agricole. It reveals the significant… http://www.banktrack.org/show/news/new_report_european_banks_fuelling_food_price_volatility_and_hunger Thu, 12 Jan 2012 00:00:00 +0100 http://www.banktrack.org/show/news/dutch_financial_institutions_speculate_in_food_markets On the eve of Christmas, the Dutch TV program Zembla broadcast the documentary Trade in Hunger, focusing on the activities of Dutch financial institutions on the derivates market in staple foods such as corn, grains, and sugar. This TV programme is based on the new SOMO report ‘Food Markets in Dutch. Dutch banks and pension funds in agricultural derivatives markets', published today, revealing the extent to which the largest Dutch banks and pension funds are active on food derivatives markets.… http://www.banktrack.org/show/news/dutch_financial_institutions_speculate_in_food_markets Fri, 23 Dec 2011 00:00:00 +0100 http://www.banktrack.org/show/news/phulbari_coal_project_protest_and_shareholder_activism_in_london Shareholder activism at GCM's annual general meeting in London.  International Accountability Project joins forces with London Mining Network and Phulbari Solidarity Group to pose some hard-hitting questions about violence, deaths, and other human rights violations associated with the Phulbari project to GCM's board.  Read the report here. http://www.banktrack.org/show/news/phulbari_coal_project_protest_and_shareholder_activism_in_london Thu, 15 Dec 2011 00:00:00 +0100 http://www.banktrack.org/show/news/mekong_governments_delay_the_xayaburi_dam_pending_further_study Siem Reap, Cambodia - In a crucial decision for the people and ecosystems of the Mekong River Basin, the governments of Cambodia, Laos, Thailand, and Vietnam agreed today to delay the Xayaburi Dam, the first of eleven dams proposed for the Mekong River, pending further study on the impacts of the proposed Mekong mainstream dams. Japan and other international donors will be asked to assist in conducting the studies. No timetable for the delay was announced.The government representatives did not give… http://www.banktrack.org/show/news/mekong_governments_delay_the_xayaburi_dam_pending_further_study Thu, 08 Dec 2011 00:00:00 +0100 http://www.banktrack.org/show/news/mekong_governments_delay_xayaburi_dam_pending_further_study Siem Reap, Cambodia - In a crucial decision for the people and ecosystems of the Mekong River Basin, the governments of Cambodia, Laos, Thailand, and Vietnam agreed today to delay the Xayaburi Dam, the first of eleven dams proposed for the Mekong River, pending further study on the impacts of the proposed Mekong mainstream dams. Japan and other international donors will be asked to assist in conducting the studies. No timetable for the delay was announced. The government representatives did not… http://www.banktrack.org/show/news/mekong_governments_delay_xayaburi_dam_pending_further_study Thu, 08 Dec 2011 00:00:00 +0100 http://www.banktrack.org/show/news/bankrolling_climate_change Today, the German environment organisation urgewald, the South African social and environmental justice organisations groundWork and Earthlife Africa Johannesburg and the international network BankTrack will present new research on the portfolios of the world's leading banks. The study "Bankrolling Climate Change" examines commercial banks' lending for the coal industry and provides the first comprehensive climate ranking for financial institutions. "We chose to look into coal financing as coal-fired… http://www.banktrack.org/show/news/bankrolling_climate_change Wed, 30 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/cedha_files_equator_principles_due_diligence_review_to_us_exim_bank_and_edc_of_canada_on_barrick_s_pascua_lama_project Ottawa Canada y Washington DC - November 25, 2011. The Center for Human Rights and Environment (CEDHA), along with several local and international groups presented today an Equator Principles Due Diligence Review to two export credit agencies considering financing Barrick Gold's highly controversial Pascua Lama gold project, straddling the border between Chile and Argentina. Glaciers that are impacted by the Pascua Lama project The review argues that Pascua Lama is in direct violation of the Equator… http://www.banktrack.org/show/news/cedha_files_equator_principles_due_diligence_review_to_us_exim_bank_and_edc_of_canada_on_barrick_s_pascua_lama_project Fri, 25 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/the_stolen_money_trail Earlier this month, Swiss bank regulators found that four Swiss banks had not done enough to identify dictators' assets they held. Earlier this year, Britain's Financial Services Authority investigation into London banks found that three quarters of them were not doing enough to verify the sources of some customers' wealth. These probes shed some light on a system that is failing to stop the flow of corrupt money, a problem that continues to have disastrous consequences for millions of people. Neither… http://www.banktrack.org/show/news/the_stolen_money_trail Wed, 23 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/eight_arrested_during_protest_at_bank_of_america_headquarters Today, eight people were arrested protesting Bank of America's reckless financing practices, including the banks role as the lead financier of coal. Two people were arrested after unfurling a banner reading "Not with Our Money" from atop two 50-foot flagpoles at the entrance of Bank of America's headquarters in downtown Charlotte. Six more were arrested below: two while supporting the climbers, and four while blocking the main entrance to the bank's headquarters.  "As the authorities attempt to… http://www.banktrack.org/show/news/eight_arrested_during_protest_at_bank_of_america_headquarters Tue, 15 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/friends_of_the_earth_us_statement_in_support_of_occupy_wall_street The hope and ambition of the Occupy movement has reminded us that we need to remake financial and economic systems so that they serve people and the planet, not the other way around. We are challenged to consider ways in which we can not only resist market fundamentalism, but help create new models that promote prosperity, social equity and environmental sustainability. The recent outpouring of public support for fundamental economic justice, as expressed through the Occupy Wall Street movement,… http://www.banktrack.org/show/news/friends_of_the_earth_us_statement_in_support_of_occupy_wall_street Tue, 08 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/belo_monte_dam_does_not_meet_sustainability_criteria_of_world_s_private_banks_say_rights_groups The controversial Belo Monte Dam, slated for construction in Brazil's Amazon region, does not meet the standards of an international framework used by the world's largest private banks to evaluate sustainability, say human rights groups in Brazil. In a letter sent to Itaú, Banco do Brasil, Bradesco, Santander, and Caixa Econômica Federal, 150 Brazilian social and environmental organizations warned that Belo Monte developer Norte Energia, S.A. (NESA) has not complied with the Equator Principles,… http://www.banktrack.org/show/news/belo_monte_dam_does_not_meet_sustainability_criteria_of_world_s_private_banks_say_rights_groups Mon, 07 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/french_banks_a_citizen_rating_reveals_what_is_going_on_underneath_their_activities Nice and Paris, November 2, 2011 – A day before the opening of the G20 in Cannes, and while the financial turmoil brings governments to negotiate again with banks on sovereign debts and on their recapitalisation needs,  Attac France and Les Amis de la Terre (Friends of the Earth France) publish today their report : Banks under citizen pressure : time for being accountable [1]. This  study comes after a citizen evaluation launched in April by these two organizations as part of their joint campaign… http://www.banktrack.org/show/news/french_banks_a_citizen_rating_reveals_what_is_going_on_underneath_their_activities Wed, 02 Nov 2011 00:00:00 +0100 http://www.banktrack.org/show/news/hundreds_occupy_belo_monte_dam_site_in_brazilian_amazon Sheyla Juruna, indigenous leader from Brazil, available for interviews in Washington, D.C.  (Hi-res photos available upon request) Altamira, Brazil  Hundreds of indigenous leaders, fishermen and riverine people from the Xingu River basin have gathered to occupy the Belo Monte Dam construction site in a peaceful protest to stop its construction in Altamira, located in the state of Pará in the heart of the Brazilian Amazon. They have vowed to permanently occupy the site and are calling on allied… http://www.banktrack.org/show/news/hundreds_occupy_belo_monte_dam_site_in_brazilian_amazon Thu, 27 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_to_equator_principles_banks_get_the_outside_job_done_ BankTrack, the global NGO network monitoring private sector bank operations, calls upon the Equator Principles Financial Institutions (EPFIs) to ensure that the next version of Equator Principles will better deliver on their core  Outside Job; make a positive difference to project affected communities and to the environment. The Equator Principles Association, meeting this week in Washington DC for their Annual Meeting, is about to publish the draft text of the new version of the Equator Principles… http://www.banktrack.org/show/news/banktrack_to_equator_principles_banks_get_the_outside_job_done_ Sun, 23 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/polo_resources_ltd_under_fire_from_human_rights_organizations_on_the_eve_of_their_agm A letter signed by over 80 civil society organizations worldwide was sent to Polo Resources and other investors today, calling on them to withdraw their support of the proposed Phulbari Coal Project in Bangladesh. The letter is signed by leading human rights and environmental organizations based in 25 countries, and identifies a wide range of serious human rights violations and environmental risks associated with the project. The Phulbari Coal Project is controlled by Global Coal Management Resources… http://www.banktrack.org/show/news/polo_resources_ltd_under_fire_from_human_rights_organizations_on_the_eve_of_their_agm Wed, 19 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/overheid_maak_van_dexia_een_maatschappelijk_nuttige_bank_   De huidige situatie creëert voor de overheid een unieke kans om resoluut te kiezen voor financieringen die de samenleving nodig heeft De tegenprestaties die gevraagd worden in ruil voor de redding met belastinggeld dienen een publieke politieke beslissing te zijn die rekening houdt met alle stakeholders Door Dexia Bank België (DBB) te redden van de grillen van de beurs wordt ruimte gecreëerd. Ruimte om op lange termijn te denken. Aan de overheid deze ruimte te gebruiken om van DBB een bank… http://www.banktrack.org/show/news/overheid_maak_van_dexia_een_maatschappelijk_nuttige_bank_ Mon, 10 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/as_occupy_wall_street_gains_momentum_an_effort_to_close_consumer_accounts_from_bank_of_america_is_launched Bank customers around the country have an opportunity to show their discontent with the big banks by pledging to close their Bank of America accounts as part of a new effort launched today from Rainforest Action Network. The ‘not one more dollar' pledges will be bundled-much like the big banks packaged mortgages for sale-and presented to Bank of America executives in protest of the bank's funding of coal, the country's number one contributor to climate change. (1) "People are fed up with Wall… http://www.banktrack.org/show/news/as_occupy_wall_street_gains_momentum_an_effort_to_close_consumer_accounts_from_bank_of_america_is_launched Mon, 10 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/_doorbreek_de_macht_van_de_griekse_elites_ Verruiming van het eurogarantiefonds om Griekenland te redden heeft alleen zin als je de macht van de Griekse elites breekt. De euroleiders maken zich op voor hun zoveelste 'definitieve' antwoord op de eurocrisis. Na de bankiers bepleiten nu ook de Chinezen en Amerikanen, ja werkelijk iedereen om wiens geld het niet gaat, een verveelvoudiging van het eurogarantiefonds (EFSF). Ook Ronald Plasterk bepleit 'een noodfonds met voldoende vuurkracht' (Opinie & Debat in de Volkskrant van 30 september).… http://www.banktrack.org/show/news/_doorbreek_de_macht_van_de_griekse_elites_ Tue, 04 Oct 2011 00:00:00 +0200 http://www.banktrack.org/show/news/myitsone_dam_suspension_a_breakthrough_for_burma_s_civil_society In a stunning move, Burma's President today announced that the Myitsone Dam on the Irrawaddy River would be halted "to respect the will of the people." International Rivers welcomes this decision as a fantastic breakthrough for civil society groups in Burma and their partners in China and around the world. Grace Mang, program coordinator at International Rivers, said: "The suspension of the Myitsone Dam is a great success for civil society groups in Burma and throughout the world. The decision shows… http://www.banktrack.org/show/news/myitsone_dam_suspension_a_breakthrough_for_burma_s_civil_society Fri, 30 Sep 2011 00:00:00 +0200 http://www.banktrack.org/show/news/_girl_band_protest_at_royal_bank_of_scotland_sponsored_low_carbon_investment_conference A 'girl band' of environmental activists dressed as 'oily bankers' protested outside the Royal Bank of Scotland (RBS) sponsored Scottish Low Carbon Investment Conference (1) in Edinburgh this morning. The 'girl band' sang a well-known chart song with lyrics altered to tell the story of RBS's 'oily investments', which finance companies involved in some of the world's most environmentally destructive activities, including oil and gas exploration, the development of new coal plants and the mining of… http://www.banktrack.org/show/news/_girl_band_protest_at_royal_bank_of_scotland_sponsored_low_carbon_investment_conference Tue, 27 Sep 2011 00:00:00 +0200 http://www.banktrack.org/show/news/illegal_construction_on_the_xayaburi_dam_forges_ahead Bangkok, Thailand: A field visit to the site of the proposed Xayaburi Dam has revealed that construction on the dam's access road and work-camp is rapidly forging ahead in spite of commitments by the Government of Laos to temporarily suspend the project. The trip to the Xayaburi Dam site on July 23rd revealed that a substantial construction camp has been established near Ban Talan village with at least a few hundred workers. An access road leading down to the dam site was also under construction… http://www.banktrack.org/show/news/illegal_construction_on_the_xayaburi_dam_forges_ahead Thu, 04 Aug 2011 00:00:00 +0200 http://www.banktrack.org/show/news/un_body_calls_for_suspension_of_gibe_iii_dam_to_protect_world_heritage Places like the Grand Canyon, Taj Mahal and Great Wall of China are of such outstanding cultural or natural value that the world's governments have committed to protect and preserve them for future generations. The UN's World Heritage Committee recently called on the Ethiopian government and Chinese financiers to suspend the Gibe III hydropower project to fulfill their obligation for the protection of such a site. Read more about this exciting development. Lake Turkana in Northern Kenya is the world's… http://www.banktrack.org/show/news/un_body_calls_for_suspension_of_gibe_iii_dam_to_protect_world_heritage Fri, 22 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/ebrd_paves_slippery_slope_for_private_banks_to_invest_in_coal_in_the_balkans EBRD claims to `follow highest standards of corporate governance and sustainable development` in its special report on climate change `The low carbon transition`[1]. The multinational development bank carries the responsibility to set an example for both public and private investors. The EBRD however, is providing funding to some of the most outrageous and environmentally destructive projects in the European coal sector. The attitude in Europe towards this outdated and climate destructive natural… http://www.banktrack.org/show/news/ebrd_paves_slippery_slope_for_private_banks_to_invest_in_coal_in_the_balkans Wed, 20 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/swiss_banks_and_human_rights_ Since 2010, the major Swiss banks Credit Suisse and UBS have financed the world's most controversial mining firm: Vedanta Resources. Vedanta earned the number two spot on a 2009 list of "most environmentally and socially controversial multinational companies" by RepRisk, a service provider for reputation risk, specializing in the financial sector. Vedanta took third place in 2010, right behind Transocean and BP. The acceptance of Vedanta as a new client shows that Credit Suisse and UBS disregard… http://www.banktrack.org/show/news/swiss_banks_and_human_rights_ Thu, 14 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/controversial_coal_projects_continue_to_be_registered_despite_serious_concerns_over_the_methodology_to_be_reviewed_by_cdm_executive_board As an United Nations panel of technical experts prepares to deliberate on the suspension of coal projects that, if approved, could lead to hundreds of millions of artificial carbon credits under the Clean Development Mechanisms (CDM), the CDM Executive Board registers another contested "Ultra Mega" coal project. Days after the CDM Methodology Panel recommended that the CDM Executive Board suspend the super critical coal methodology (ACM0013), the Coastal Andhra project, a 3,960 "Ultra Mega Power… http://www.banktrack.org/show/news/controversial_coal_projects_continue_to_be_registered_despite_serious_concerns_over_the_methodology_to_be_reviewed_by_cdm_executive_board Tue, 12 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/france_ready_to_finance_the_next_fukushima “While the Fukushima catastrophe is still ongoing, the French state brings its financial support to the building of a nuclear power plant on a seismic fault in a populated region of India, explains Sophia Majnoni, nuclear campaigner for Greenpeace France. The government persists in its archaic choice of nuclear, whatever the costs, even if it poses enormous risks to populations. This backward attitude has to stop. France needs to not only change its own energy model to get out of nuclear and enter… http://www.banktrack.org/show/news/france_ready_to_finance_the_next_fukushima Tue, 12 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/chinese_ngos_rank_the_country_s_major_financiers_launch_sustainability_benchmarking_of_chinese_commercials_banks Green Watershed, a Chinese environmental NGO and member of BankTrack, an international network of NGOs that advance sustainability in the financial sector, released an English-language report about the sustainability policies and practices of major Chinese commercial banks.  Environmental Record of Chinese Banks 2010 benchmarks 14 Chinese commercial banks, including ICBC, China Construction Bank and Bank of China, which are currently among the top ten most valuable banks in the world, according… http://www.banktrack.org/show/news/chinese_ngos_rank_the_country_s_major_financiers_launch_sustainability_benchmarking_of_chinese_commercials_banks Mon, 11 Jul 2011 00:00:00 +0200 http://www.banktrack.org/show/news/recognizing_dams_as_a_world_heritage_threat   The UNESCO World Heritage Committee just concluded its 35th session in Paris, and for the activists and experts who worked long and hard to protect many dam-threatened World Heritage Sites, the results were a mixed bag. In early June of this year, 18 organizations and individuals sent a letter to World Heritage Committee members urging them to list a number of threatened sites on the List of World Heritage In Danger. Here are some of the recent decisions: The Río Plátano Biosphere Reserve in… http://www.banktrack.org/show/news/recognizing_dams_as_a_world_heritage_threat Thu, 30 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/laos_steamrolls_neighbors_in_xayaburi_dam_process Laos appears to have defied its neighbors in a move to press ahead with the proposed Xayaburi Dam on the Mekong Mainstream, despite concerns raised by neighboring governments and regional civil society groups. A letter leaked to International Rivers, dated June 8, 2011, reveals that the Lao Government has informed the Xayaburi project developer Ch. Karnchang that the Mekong River Commission's (MRC) regional decision-making process is now complete, presumably giving Ch. Karnchang the green light… http://www.banktrack.org/show/news/laos_steamrolls_neighbors_in_xayaburi_dam_process Thu, 23 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/mountaintop_removal_mining_raises_birth_defects In April I went to Congresswoman Nancy Pelosi's office in Washington DC. Nancy is my representative and I was there to talk about her duty to protect U.S. communities and waterways from toxic mountaintop removal mining pollution. My friend Erica was in the room with me. Erica lives in the Kentucky mountains, and her community is not being protected - she illustrated this by recounting the horror she felt on discovering that the water that she had bathed her small child in for years contained arsenic… http://www.banktrack.org/show/news/mountaintop_removal_mining_raises_birth_defects Wed, 22 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/fsa_reveals_british_banks_are_failing_to_turn_down_corrupt_funds Global Witness welcomes today's recognition by the Financial Services Authority (FSA) that the majority of Britain's banks are failing to do enough to identify corrupt money from abroad and that it is ‘likely that some banks are handling the proceeds of corruption'. The campaigning NGO has repeatedly called for a new approach by the regulator to identify and punish those banks that fail in their requirements to identify their customers and their source of funds, particularly customers who are… http://www.banktrack.org/show/news/fsa_reveals_british_banks_are_failing_to_turn_down_corrupt_funds Wed, 22 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/barclays_account_used_by_dictator_s_son_to_buy_18m_of_artwork_with_suspect_funds An account at Barclays bank was used by Teodorin Obiang, the son of the dictator of Equatorial Guinea, to buy €18m (£16m at current rates) of art from the estate of the late Yves Saint Laurent.  Teodorin earns a salary of $6,799 (£4,200, €4,800) a month as a minister in his father's government, yet lives a playboy life, owning fast cars, private jets and expensive real estate. The Barclays account was in the name of his forestry company, Somagui Forestal and the French anti-money laundering… http://www.banktrack.org/show/news/barclays_account_used_by_dictator_s_son_to_buy_18m_of_artwork_with_suspect_funds Wed, 22 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/coal_export_madness_spreading_to_oregon Coal companies are bound and determined to get that dirty black rock out of the Powder River Basin and send it over to Asian markets to line their pockets. While the EPA is pressing for stricter regulations on coal plants and the anti-coal movement stops new coal-fired power plants from being built and existing coal plants from having their lives extended, coal companies like Arch Coal, Ambre Energy and Peabody Energy are looking at Japan, China and India for new markets. These companies have already… http://www.banktrack.org/show/news/coal_export_madness_spreading_to_oregon Tue, 21 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/legal_roadblock_to_damming_patagonia This morning saw a great success for the legal team working in Chile to stop the destructive HidroAysén project in Patagonia. The Appelate Court in Puerto Montt accepted three recursos de protección - roughly equivalent to injunctions - which means that the project is on hold for up to three months until these issues are resolved. These recursos are an important and welcome addition to the ongoing Chilean and international campaign to stop these unnecessary dams in the breathtaking corner of the… http://www.banktrack.org/show/news/legal_roadblock_to_damming_patagonia Mon, 20 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/actions_speak_louder_than_words Today eleven activists appear in a Danish court facing serious charges for a  simple act of protest in Copenhagen a year and a half ago, while Greenpeace International Executive Director Kumi Naidoo remains in a Greenlandic jail for his stand against Arctic oil drilling.Bearing witness and non-violent direct action are among the founding principles of Greenpeace. For 40 years, from pole to pole, on every continent and every ocean, Greenpeace has been bringing about change through these core values.Direct… http://www.banktrack.org/show/news/actions_speak_louder_than_words Mon, 20 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/tribes_dispute_greenwashing_by_dam_builders Indigenous people from Brazil's vast but shrinking Amazon region yesterday interrupted the Congress of the International Hydropower Association, claiming that the Belo Monte Dam was approved illegally by the Brazilian government, vowing to fight as long as it takes to stop the dam.  At the same event, environmental activists dismissed a new voluntary environmental tool as an effort by the dam industry to greenwash its practices. Sheyla Juruna of the Juruna tribe, which would be directly impacted… http://www.banktrack.org/show/news/tribes_dispute_greenwashing_by_dam_builders Thu, 16 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/api_s_circular_argument_on_keystone_xl_pipeline_wouldn_t_pass_your_high_school_philosophy_class In my freshman logic course, now a long time ago, I learned about Petitio Principii, Circulus in Probando, also known as arguing in a circle. It's a basic fallacy popularly demonstrated in a formulation like this: Daniel always tells the truth. I know this because he told me so. But of course Daniel might be lying, right? I do not know the academic background of American Petroleum Institute's Marty Durbin, but it's very possible, given his recent comments, that he didn't take freshman logic. Or… http://www.banktrack.org/show/news/api_s_circular_argument_on_keystone_xl_pipeline_wouldn_t_pass_your_high_school_philosophy_class Tue, 14 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/ran_translates_banker_speak Earlier this year, thousands of RAN supporters wrote to Deutsche Bank boss Josef Achermenn to urge that his bank cease financing mountaintop removal coal mining in Appalachia. Deutsche Bank have given us their first response, however... it's a little dry. So I'm going to have a go at translating the ‘bankers-speak' into plain English. Deutsche Bank's words are in italics, my ‘translations' are in bold. Deutsche Bank regards the responsible treatment of the environment as an integral part of… http://www.banktrack.org/show/news/ran_translates_banker_speak Tue, 07 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/brazil_and_chile_dam_projects_generate_widespread_protests Read the Press Release about the controversial approval of Belo Monte Dam Below is an interview with Aviva Imhof, Interim Executive Director of International Rivers. She was interviewed on Uprising Radio, a daily radio program hosted by Sonali Kolhatkar.  Aviva talks about the social struggles in Brazil and Chile that are taking place in reaction to large hydropower projects being built against the will of the people. Listen now! A Brazilian environmental agency yesterday gave final approval for… http://www.banktrack.org/show/news/brazil_and_chile_dam_projects_generate_widespread_protests Thu, 02 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/brazil_green_lights_controversial_amazon_dam Brasília, Brazil - The Brazilian government has issued the full installation license allowing the Belo Monte Dam Complex to break ground on the Amazon's Xingu River despite egregious disregard for human rights and environmental legislation, the unwavering protests of civil society, condemnations by its Federal Public Prosecutor's Office (MPF) and the request for precautionary measures by the OAS Inter-American Commission on Human Rights (IACHR). The license was granted by Brazil's environmental… http://www.banktrack.org/show/news/brazil_green_lights_controversial_amazon_dam Wed, 01 Jun 2011 00:00:00 +0200 http://www.banktrack.org/show/news/live_action_climbers_in_survival_pod_stop_arctic_oil_rig In the freezing seas off Greenland, activists from the Greenpeace ship Esperanza are taking direct action against oil drilling in the Arctic. Luke and Sigurd are now hanging from the underside of Cairn Energy's giant oil rig in our Arctic survival pod with enough food and water to stay there for for a good long time. Their action will prevent the rig starting its dangerous deep water drilling 100 miles west of the Greenland coast. There will be live updates from the survival pod on the oil rig,… http://www.banktrack.org/show/news/live_action_climbers_in_survival_pod_stop_arctic_oil_rig Sun, 29 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/small_first_nations_eu_tour_has_big_impact_on_investors_shareholders_and_governments In May 2011, a small delegation of First Nations Peoples brought to European institutions the reality of treaty rights, and the impacts of living within the tar sands extraction zone. This reality represents an important side of tar sands development that the Canadian Foreign Department has not adequately addressed at home or abroad.  Edmonton, AB - Lionel Lepine, member of Athabasca Chipewyan First Nation and Heather Milton-Lightening of the Indigenous Environmental Network came to the EU with… http://www.banktrack.org/show/news/small_first_nations_eu_tour_has_big_impact_on_investors_shareholders_and_governments Fri, 27 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/activists_call_for_a_ban_on_financial_investments_in_producers_of_cluster_munitions Worldwide, 166 private and public financial institutions continue to invest 39 billion USD in producers of cluster munitions, which like landmines, are banned under international law. Although some EU countries like Belgium, Ireland and Luxembourg are taking the lead in passing legislation that bans investment, many countries and financial institutions are lagging behind. These are some of the key findings in the report "Worldwide Investments in Cluster Munitions; a shared responsibility", issued… http://www.banktrack.org/show/news/activists_call_for_a_ban_on_financial_investments_in_producers_of_cluster_munitions Wed, 25 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/government_documents_arctic_oil_spill_all_but_impossible_to_clear_up We obtained a series of documents [download part one and part two, both pdfs] today under a Freedom of Information request that show the government is saying privately what we've been saying publicly: an Arctic oil spill would be all but impossible to clear up. In an email exchange, government officials told the energy secretary Chris Huhne: "It is difficult to get assistance in case of pollution problems in such areas, and near impossible to make good damage caused." Another document reports that… http://www.banktrack.org/show/news/government_documents_arctic_oil_spill_all_but_impossible_to_clear_up Tue, 24 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/un_committee_deeply_concerned_about_ilisu_dam One of the major human rights committees of the United Nations voices its deep concern about the construction of the Ilisu dam as well as other dam projects in Turkey. With this, the committee reacts to reports by civil society organisations on numerous human rights violations connected to dam construction. For three weeks the committee for economic, social and cultural rights assessed the compliance of Turkey and four other countries with its obligations under the UN Social Covenant. In its final… http://www.banktrack.org/show/news/un_committee_deeply_concerned_about_ilisu_dam Sat, 21 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/first_nation_tour_brings_truth_to_france_on_tar_sands_development A small delegation of First Nations members toured Strasbourg and Paris, France this week to meet with investors, French government and EU government with a specific message, "Canada is a developed country with "high" human rights standards yet the tar sands development is slow genocide for First Nations living within the extraction zone," said Lionel Lepine, member of the Athabasca Chipewyan First Nation. "We are losing our culture, language and way of life which is protected by our treaty rights."… http://www.banktrack.org/show/news/first_nation_tour_brings_truth_to_france_on_tar_sands_development Fri, 20 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/protest_mounts_against_earthquake_prone_nuke_plant Since its earliest stages, the proposed Nuclear Power Plant at Jaitapur has faced concerned opposition from local people who clearly recognised the inherent risks that the Indian government appeared to be ignoring. With the proposed site sitting directly on top of one of India's most seismically active zones, those with the most to lose saw clearly the danger they were being placed in and started the fight for their safety, their livelihoods and the future of their families. Four years on and under… http://www.banktrack.org/show/news/protest_mounts_against_earthquake_prone_nuke_plant Fri, 20 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/mickey_and_minnie_protest_disney_rainforest_destruction_at_company_hq Early this morning, two activists supporting Rainforest Action Network unfurled a 35 foot banner across The Walt Disney Company's two-story entrance arch that reads "Disney: Destroying Indonesia's Rainforests." Beneath them, Mickey and Minnie Mouse locked down to the main entrance gates to the company's Burbank headquarters-blockading Disney's executives from arriving to work through the main gates. Please support these brave activists by taking action today. Tell Disney CEO Robert Iger that rainforest… http://www.banktrack.org/show/news/mickey_and_minnie_protest_disney_rainforest_destruction_at_company_hq Wed, 18 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/statement_on_lao_government_decision_to_delay_xayaburi_dam International Rivers welcomes the recent decision by the Lao government to reconsider the proposed Xayaburi Dam on the Mekong River in northern Laos. The announcement was the result of a meeting between the Prime Ministers of Laos and Vietnam during last weekend's 18th ASEAN Summit.  Laos stated that it has temporarily suspended the project in order for an expert review to be completed.In light of this recent decision, International Rivers requests confirmation that construction on the Xayaburi… http://www.banktrack.org/show/news/statement_on_lao_government_decision_to_delay_xayaburi_dam Fri, 13 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/wikileaks_reveals_arctic_could_be_the_new_cold_war Submarine explorers planting Russian flags under the North Pole. Military tension between NATO and Russia. US diplomats manoeuvring in the wings. Aircraft carriers lurking and strike fighters changing hands. Sound like something from a James Bond plot? Unfortunately it's not. New Wikileaks releases today have shown the Arctic oil rush is not just a threat to the environment and our climate, but also to peace. The documents show how deadly serious the scramble for Arctic resources has become. And… http://www.banktrack.org/show/news/wikileaks_reveals_arctic_could_be_the_new_cold_war Thu, 12 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/banking_on_the_next_fukushima Two months after the devastating earthquake and tsunami struck Japan our thoughts are with those who have lost loved ones, those who face an uncertain future and those who are still unable to return home because of the deadly contamination from the still leaking and still precarious nuclear complex at Fukushima. The ongoing Fukushima nuclear catastrophe stands as a stark warning to those who live in the shadow of other nuclear reactors around the world. It stands also as a reminder of the inherent… http://www.banktrack.org/show/news/banking_on_the_next_fukushima Wed, 11 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/divisive_dams_approved_in_patagonia_chile  A five-dam hydroelectric scheme that locals fear will destroy the character of one of Chile's most important wild regions was approved today by the Aysén Environmental Review Commission with a vote of 11 in favor and one opposed. Critics say the HidroAysén approval process has been marred by a flawed Environmental Impact Assessment (EIA), and serious conflicts of interest on the part of Commission members. The project has been the target of a local and international campaign that for 5 years… http://www.banktrack.org/show/news/divisive_dams_approved_in_patagonia_chile Mon, 09 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/moscow_regional_police_authority_urged_to_resign_due_to_arbitrariness_in_khimki Instead of carrying out their duties of law enforcement, Khimki's police are acting in a lawless way - detaining and beating legitimate defenders of the Khimki forest. Whereas a range of crimes, murder and attempted murder to beatings and robberies committed against members of the Khimki forest defenders movement still remain uninvestigated for several years by now. The urban district of Khimki has turned into an area in which civil society activists have to in fear every day for life, health and… http://www.banktrack.org/show/news/moscow_regional_police_authority_urged_to_resign_due_to_arbitrariness_in_khimki Mon, 09 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/big_coal_emergency_in_bangladesh_worsens_violent_crackdown_on_villagers_peacefully_opposing_coal_mine Phulbari, Bangladesh - May 5th, 2011 - On the afternoon of May 5th, a peaceful anti-coal demonstration by local villagers in Bangladesh suddenly turned bloody. The resort to violence is the latest in a series of events that have made the proposed Phulbari Coal Project, along with nearby mining in Barapukuria, one of the most fiercely contested coal projects in the world. The United States Ambassador has also been implicated in a recent WikiLeaks cable, which shows the Obama administration exerting… http://www.banktrack.org/show/news/big_coal_emergency_in_bangladesh_worsens_violent_crackdown_on_villagers_peacefully_opposing_coal_mine Fri, 06 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/french_construction_firm_vinci_involved_in_scandalous_destruction_of_russian_forest Protected Russian forest is being destroyed in order to build a new toll highway between Moscow and St. Petersburg. The campaign to save this forest has already suffered through outrageous acts against local residents and activists - including beatings, arson, and murder. That this is all happening during the UN Year of the Forest only adds another layer of tragedy to the situation, and French construction conglomerate Vinci doesn't appear ashamed of its involvement in the destruction of this protected… http://www.banktrack.org/show/news/french_construction_firm_vinci_involved_in_scandalous_destruction_of_russian_forest Thu, 05 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/cluster_bombs_manufactured_in_spain_in_2007_and_used_by_gaddafi_to_bomb_misrata_were_financed_by_spanish_banks SETEM also reveals that 14 Spanish banks, among them BBVA, Santander and Bankia, invested almost 2 billion € in 19 major manufacturers of controversial arms that cause thousands of civilian deaths around the world. Among those highlighted are chemical and biological weapons, cluster bombs and anti-personnel mines. SETEM has confirmed this morning in the presentation of their new campaign "Banca Limpia" (Clean Banking) that the cluster bombs MAT-120 manufactured by the Spanish company Instalaza… http://www.banktrack.org/show/news/cluster_bombs_manufactured_in_spain_in_2007_and_used_by_gaddafi_to_bomb_misrata_were_financed_by_spanish_banks Wed, 04 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/mining_giant_joins_belo_monte_dam The world's second-largest mining corporation, Vale, has stepped into one of the world's most controversial dams: Belo Monte. With its new share in the dam, Vale - and the Brazilian government - are banking on the hope that the electricity from so-called "clean" dams can power Brazil's continued export of commodities to China. In the case of the Amazon, Belo Monte may help power a record expansion of dirty mining. In so many ways, a nightmare "Avatar" scenario is ever closer to reality. Hydropower… http://www.banktrack.org/show/news/mining_giant_joins_belo_monte_dam Tue, 03 May 2011 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_reveals_dirty_business_practices_of_transcanada_pipelines A report released today by Friends of the Earth reveals the nefarious business practices of TransCanada Pipelines, whose controversial proposal to pump tar sands oil across the American Midwest is currently under review by the Obama administration.  Dirty Business: How TransCanada Pipelines bullies farmers, manipulates oil markets, threatens fresh water and skimps on safety in the United States documents underhanded and risky tactics employed by TransCanada in pursuing the Keystone XL tar sands… http://www.banktrack.org/show/news/new_report_reveals_dirty_business_practices_of_transcanada_pipelines Thu, 28 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/first_nations_protest_tar_sands_investment_at_royal_bank_of_scotland_agm Representatives from some of Canada's First Nations are preparing to demand in person that the Royal Bank of Scotland (RBS) stops financing the controversial tar sands industry in Alberta, Canada, at the bank's AGM today. [1] The protest comes as new research, published by a coalition of UK and North American NGOs, shows that since being bailed out with public money in 2008, RBS has raised £5.6 billion in corporate financing to companies involved in Alberta's controversial tar sands extraction… http://www.banktrack.org/show/news/first_nations_protest_tar_sands_investment_at_royal_bank_of_scotland_agm Tue, 19 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/state_department_releases_supplemental_environmental_analysis_on_keystone_xl_tar_sands_oil_pipeline WASHINGTON, D.C.-The U.S. State Department today released a Supplemental Draft Environmental Impact Statement (SDEIS) for the controversial Keystone XL pipeline, which would carry highly polluting tar sands oil from Canada across six U.S. states to refineries in Texas. The supplemental environmental analysis had been requested by communities that could be impacted by the pipeline, as well as by members of Congress, and the U.S. Environmental Protection Agency. The EPA gave the State Department's… http://www.banktrack.org/show/news/state_department_releases_supplemental_environmental_analysis_on_keystone_xl_tar_sands_oil_pipeline Fri, 15 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/energy_at_what_cost_protests_against_forced_eviction_from_us_backed_coal_mine_continue_in_bangladesh As the sun rose on March 28, 2011, roughly 2,000 people gathered to demonstrate against a mining project that would displace tens of thousands of people in northwest Bangladesh and establish one of the largest open pit coal mines in the world. Located in an agricultural region that is home to thousands of farming and indigenous families, the Phulbari Coal Project has been fiercely opposed by Bangladeshi citizens for over six years. Regardless, the UK-based company pursuing the project, Global Coal… http://www.banktrack.org/show/news/energy_at_what_cost_protests_against_forced_eviction_from_us_backed_coal_mine_continue_in_bangladesh Fri, 08 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_card_exposes_largest_financers_of_mountaintop_removal_coal_mining A new report card issued today by Rainforest Action Network and the Sierra Club ranks ten of the world's largest banks on their financing of mountaintop removal coal mining projects. Since 2010, the report card found that the top three financiers of the destructive mining practice are PNC, Citi, and UBS. Deutsche Bank and GE Capital received failing grades for having no policy in place to guide funding of mining companies. Credit Suisse and Wells Fargo were found to have the strongest policies in… http://www.banktrack.org/show/news/new_report_card_exposes_largest_financers_of_mountaintop_removal_coal_mining Tue, 05 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/organization_of_american_states_requests_immediate_suspension_of_belo_monte_dam_in_the_brazilian_amazon The Inter-American Commission on Human Rights (IACHR), part of the Organization of American States (OAS), has officially requested the Brazilian government immediately suspend the Belo Monte Dam complex in the Amazonian state of Para, citing the project's potential harm to the rights of traditional communities living within the Xingu river basin. According to the IACHR, the Brazilian government must comply with legal obligations to undertake a consultation process that is "free, prior, informed,… http://www.banktrack.org/show/news/organization_of_american_states_requests_immediate_suspension_of_belo_monte_dam_in_the_brazilian_amazon Tue, 05 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/decommissioning_cost_of_fukushima_daiichi_might_be_over_us_90billion FGW has estimated that total decommissioning cost of crippled nuclear plants in Fukusima Daiich of Tokyo Electric Company(TEPCO), which might be over 7trillion yen (almost US$ 90billion). Japanese government and TEPCO have already admitted to decommission  their facilities. We have calculated  those future cost by past experiences.  In the world, so far there are 80 examples of carried out decommissioning of commercial nuclear plants, due to aging or economical reasons. These decommissioning… http://www.banktrack.org/show/news/decommissioning_cost_of_fukushima_daiichi_might_be_over_us_90billion Sun, 03 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/one_month_into_fukushima_disaster_hsbc_signs_advisory_contract_for_nuclear_power_plant_in_earth_quake_zone Exactly one month after the start of the Fukushima disaster, HSBC signed an agreement to analyse and find investors for the long delayed and highly controversial Belene nuclear power plant project in Bulgaria. [1] Belene is one of the oldest and most controversial nuclear projects in Europe. It is plagued with numerous problems, from its location in an earthquake zone in a country with a poor nuclear safety culture, to the use of an untested Russian reactor technology. [2] Jan Haverkamp, Greenpeace… http://www.banktrack.org/show/news/one_month_into_fukushima_disaster_hsbc_signs_advisory_contract_for_nuclear_power_plant_in_earth_quake_zone Fri, 01 Apr 2011 00:00:00 +0200 http://www.banktrack.org/show/news/official_review_of_the_xayaburi_dam_reveals_project_flaws A long-brewing regional debate over whether or not to build the proposed Xayaburi Dam on the Mekong River has hit boiling point.  If there were any delusional fantasies remaining that mainstream dam building could be sustainable, the Mekong River Commission's new independent technical review of the proposed Xayaburi Dam has surely dissolved them.  The MRC Secretariat's expert review of the Xayaburi Dam's key project documents - released a few days ago - highlights the grave environmental and social… http://www.banktrack.org/show/news/official_review_of_the_xayaburi_dam_reveals_project_flaws Thu, 31 Mar 2011 00:00:00 +0200 http://www.banktrack.org/show/news/james_cameron_brings_arnold_schwarzenegger_to_amazon_to_see_firsthand_a_battle_between_old_and_new_energy James Cameron held a press conference yesterday with Amazonian indigenous leaders and environmental experts following his return with Arnold Schwarzenegger from a visit to the Big Bend region of the Xingu River, the site of the proposed Belo Monte Dam in the Brazilian Amazon. Calling the Dam a "human rights crisis" for Brazil, Cameron - who has visited the Xingu Region three times in the past year - made an appeal to the Brazilian government and public to use this crisis as an opportunity to lead… http://www.banktrack.org/show/news/james_cameron_brings_arnold_schwarzenegger_to_amazon_to_see_firsthand_a_battle_between_old_and_new_energy Sat, 26 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/deutsche_bank_cancels_interest_in_jaitapur_nuclear_project_india India's Nuclear Power Corporation (NPCIL) encounters difficulties in raising funds for a new nuclear plant situated in a earth quake prone zone. Earlier this year, the company invited over a dozen large banks from around the world to participate in financing the construction of the world's largest nuclear complex near the town of Jaitapur in Western India. While Germany's Commerzbank turned down this invitation, other international banks such as BNP Paribas, Crédit Agricole, Citibank and Deutsche… http://www.banktrack.org/show/news/deutsche_bank_cancels_interest_in_jaitapur_nuclear_project_india Tue, 22 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/governments_should_name_banks_that_took_corrupt_money_from_gaddafi_mubarak_and_ben_ali The governments that have frozen funds controlled by Gaddafi, Mubarak, Ben Ali and their cronies should name the banks holding their assets, anti-corruption group Global Witness demanded today. A clear message must be sent to banks that doing business with corrupt dictators is unacceptable: first, those banks holding dirty money should be publicly named and then regulators need to devise a new system which stops banks from taking suspect funds in the first place. Some $32 billion has been frozen… http://www.banktrack.org/show/news/governments_should_name_banks_that_took_corrupt_money_from_gaddafi_mubarak_and_ben_ali Mon, 21 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/climate_week_in_turmoil_over_revelations_of_sponsor_s_climate_damage A nationwide initiative to promote awareness and action on climate change has been thrown into turmoil following revelations over the destructive climate impact of one of its main sponsors - the Royal Bank of Scotland. A number of campaign groups including PLATFORM, Friends of the Earth Scotland, People & Planet and the World Development Movement have published a report on the opening day of Climate Week that examines in detail RBS's provision of finance to the coal sector. The report, ‘Dirty… http://www.banktrack.org/show/news/climate_week_in_turmoil_over_revelations_of_sponsor_s_climate_damage Sun, 20 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/u_s_taxpayer_funded_bank_should_follow_the_doctor_s_orders_on_coal_in_south_africa Any day now, the United States' export credit agency, the U.S. Export-Import Bank (Ex-Im), is expected to decide on whether or not it will help finance the construction of one of the world's largest coal plants. Located in South Africa, the 4800 MW behemoth, known as Kusile, would be the size of about 10 typical coal plants in the US. On top of the tens of millions of tons of climate polluting gases it would spew out every year, Kusile would create a public health nightmare for poor South Africans… http://www.banktrack.org/show/news/u_s_taxpayer_funded_bank_should_follow_the_doctor_s_orders_on_coal_in_south_africa Fri, 18 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/development_bank_of_japan_key_financier_of_nuclear_industry Development Bank of Japan (DBJ)  has provided 1.4 trillion yen (roughly 17.2billion US$) to 9 major electric power companies in Japan at the end of March 2010. As one third of electric energy in Japan coming from nuclear power plants, it means almost 470 billion yen (5.7 billion us$) of DBJ's money has been spent for constructions and operations of nuclear power plants around Japan. Therefore, we can call DBJ "Japan's No1 nuclear bank". According to financial statements of 9 major electric power… http://www.banktrack.org/show/news/development_bank_of_japan_key_financier_of_nuclear_industry Tue, 15 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/_nuclear_banks_no_thanks_coalition_demands_banks_to_stop_financing_nuclear_energy In light of the deepening Nuclear Crisis in Japan, the ‘Nuclear banks, no thanks' coalition[i] issued the following statement: "Today our thoughts and concerns are with the Japanese people, who instead of being able to concentrate on recovering from the devastating earthquake and tsunami, are now forced to deal with a new man made crisis caused by nuclear power stations running amok. The unfolding nuclear disaster in Japan has shattered all claims of nuclear proponents that nuclear energy is… http://www.banktrack.org/show/news/_nuclear_banks_no_thanks_coalition_demands_banks_to_stop_financing_nuclear_energy Tue, 15 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/financial_analysts_downgrade_nuclear_power "Standard and Poor's warned clients that the risk of cancellations or delays for existing and future nuclear projects has increased as a result of the situation in Japan." (See Reuters.) "'The severe nuclear incident in Japan has put a global nuclear renaissance into question,' Bernstein International analyst Alex Barnett said in a research note." (See The Globe and Mail.) "Bank Of America Merrill Lynch's Steve Fleishman cuts ratings on Entergy Corp. (ETR) and Scana Corp. (SCG) to underperform from… http://www.banktrack.org/show/news/financial_analysts_downgrade_nuclear_power Tue, 15 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/le_gouvernement_britannique_reconnait_officiellement_les_violations_des_droits_humains_sur_l_oleoduc_btc En avril 2003, une plainte avait été déposée par six organisations environnementalistes et de défense des droits humains, dans le cadre de la construction du très controversé oléoduc Baku-Tbilisi-Ceyhan (BTC). Huit ans après, le gouvernement britannique vient de rendre sa décision (1), déclarant que le consortium d'entreprises, mené par la compagnie pétrolière BP et dans lequel participait la française Total, a violé les normes internationales concernant les responsabilités des… http://www.banktrack.org/show/news/le_gouvernement_britannique_reconnait_officiellement_les_violations_des_droits_humains_sur_l_oleoduc_btc Mon, 14 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/eurosibenergo_s_hong_kong_ipo_threatens_rivers_of_siberia_and_lake_baikal An international coalition of NGOs for the protection of transboundary rivers, Rivers without Boundaries, has presented evidence of undisclosed environmental risks to investors in advance of EuroSibEnergo's IPO on the Hong Kong stock exchange. The report presented on the International Day of Action for Rivers exposes the environmental risks associated with EuroSibEnergo's plans to use the proceeds from its IPO to build two mega dams in the fragile river system in Siberia, including those connected… http://www.banktrack.org/show/news/eurosibenergo_s_hong_kong_ipo_threatens_rivers_of_siberia_and_lake_baikal Mon, 14 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_on_human_rights_violations_by_dams_in_turkey A new report by organisations from Germany and Turkey reveals the huge extent to which Turkish dam policy violates human rights. The report was submitted to the UN Committee on Economic, Social and Cultural Rights yesterday, on the International Day of Action against Dams. The committee will consider at its next session in May 2011 the Turkish government's compliance with its obligations under the International Covenant on Economic, Social and Cultural Rights. The Covenant constitutes binding law… http://www.banktrack.org/show/news/new_report_on_human_rights_violations_by_dams_in_turkey Mon, 14 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/bbva_is_the_leading_spanish_bank_in_financing_controversial_arms_producers Despite their internal arms policy and their adherence to Corporate Social Responsibility policies, the Centro de Estudios por la Paz J.M. Delàs, Observatorio de la Deuda en la Globalización (ODG) and the Federation SETEM, united in the campaign "BBVA without arms" announce in BBVA's Annual General Assembly of Shareholders that since 2006, BBVA has actively financed and invested over 1,000 million euros in companies producing nuclear weapons, cluster bombs and depleted uranium weapons. (Madrid,… http://www.banktrack.org/show/news/bbva_is_the_leading_spanish_bank_in_financing_controversial_arms_producers Fri, 11 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/_so_few_policemen_for_so_many_thieves_bbva_the_assassin_ These were two of the many slogans of the Platform against Banco Bilbao Vizcaya Argentaria (BBVA) who held a protest in Bilbao on 11 March 2011 Friday between 10.00 and 12.00. The officials of BBVA, who would hold their Annual General Meeting (AGM) in the Euskalduna Palace, did not let Akgün İlhan, an activist of the Initiative to Keep Hasankeyf Alive, to join the AGM by inventing various bureaucratic excuses. For this reason Jordi Calvo Rufanges, an activist of Barcelona Peace and Justice group,… http://www.banktrack.org/show/news/_so_few_policemen_for_so_many_thieves_bbva_the_assassin_ Fri, 11 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/environment_groups_response_to_federal_minister_burke_s_decision_on_gunns_pulp_mill Environment groups today acknowledged the constructive progress on plantation wood supply in Minister Tony Burke's legally-binding conditions for the proposed pulp mill, but expressed fundamental concerns about unaddressed community opposition to the mill and the mill's marine impacts and reiterated their opposition to the project. "We are opposed to this project but we do welcome the Minister's legally-binding decision to require the pulp mill to only use wood from plantations," said Lyndon Schneiders… http://www.banktrack.org/show/news/environment_groups_response_to_federal_minister_burke_s_decision_on_gunns_pulp_mill Thu, 10 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/bp_violating_human_rights_rules_says_uk_government A BP-led consortium is breaking international rules governing the human rights responsibilities of multinational companies in its operations on the controversial Baku-Tbilisi-Ceyhan oil pipeline, the UK Government ruled today.[1]  Environment and human rights groups, which had filed an official complaint against BP eight years ago, say the ruling puts the oil multinational in breach of its loan agreements -- including a multi-million pound loan backed by UK taxpayers. Villagers living along BP's… http://www.banktrack.org/show/news/bp_violating_human_rights_rules_says_uk_government Wed, 09 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/regional_judge_overturns_ban_on_construction_of_controversial_belo_monte_dam_in_the_brazilian_amazon Brasília, Brazil - In yet another turn of events in the increasingly heated legal and political battle over the controversial Belo Monte dam complex, on Thursday the president of a federal regional court in Brasilia, Olindo Menezes, overturned a decision by federal judge Ronaldo Destêrro that prohibited initial construction to commence on the mega-project - slated to be the world's third largest dam - along the Xingu river in the heart of the Brazilian Amazon. "There is a real danger that bureaucratic… http://www.banktrack.org/show/news/regional_judge_overturns_ban_on_construction_of_controversial_belo_monte_dam_in_the_brazilian_amazon Tue, 08 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/massive_protest_rally_against_mines_in_phulbari_barapukuria   At least 2,000 demonstrators blockaded a major highway in northwest Bangladesh this week to protest government plans for open pit coal mining in Phulbari and nearby Barapukuria and demand compensation for lost crops and the destruction of their lands.   Demonstrators called on the government to honor a six-point agreement signed on August 31, 2006. The agreement bans open pit coal mining throughout Bangladesh, and calls for the permanent expulsion of the Phulbari Mine Project's financier, Global… http://www.banktrack.org/show/news/massive_protest_rally_against_mines_in_phulbari_barapukuria Mon, 07 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/profits_through_destruction_the_other_annual_balance_of_andritz „We at ANDRITZ are committed to sustainable development. For ANDRITZ, sustainable development encompasses a full set of environmental measures but at the same time goes beyond them." „The ANDRITZ GROUP is committed to promoting environmental protection and conservation of natural resources."  On March 8th the Austrian company Andritz will present its financial balance for 2010. The company's CEOs will talk a lot about gains in business and record profits. What will not be presented is the price… http://www.banktrack.org/show/news/profits_through_destruction_the_other_annual_balance_of_andritz Mon, 07 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/groups_call_on_hong_kong_exchange_to_ensure_zijin_mining_comes_clean_about_overseas_investment_risks Several civil society groups today petitioned the Hong Kong Stock Exchange to ensure that Zijin Mining Group (listed as 2899:HK) fully discloses material risks associated with one of its most controversial overseas projects, the Rio Blanco Mine in Peru. The groups include Friends of the Earth, Peruvian rights organizations CooperAccion and Fundación Ecuménica para el Desarrollo y la Paz (Fedepaz), and Belgian solidarity organization CATAPA. "Because of the Rio Blanco Mine project, people have… http://www.banktrack.org/show/news/groups_call_on_hong_kong_exchange_to_ensure_zijin_mining_comes_clean_about_overseas_investment_risks Thu, 03 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/environment_groups_statement_on_delay_to_pulp_mill_approval Environment groups have welcomed Environment Minister Tony Burke's decision to delay his decision on the pulp mill proposed for Tasmania's Tamar Valley, as the company behind the proposal, Gunns, is "seeking tougher environmental controls than were contained in the original application". "The current proposal for the pulp mill, put forward by Gunns in 2007, would cause unacceptable damage to the environment, so it is appropriate that the Minister give the company longer to improve its proposal,"… http://www.banktrack.org/show/news/environment_groups_statement_on_delay_to_pulp_mill_approval Thu, 03 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/symbolic_funeral_for_coal_at_the_offices_of_deutsche_bank_ing_bnp_paribas On Tuesday 1st March non-governmental organisations handed over 4,000 signatures to representatives of banks that are active on the Belgian market. The signatories of this petition ask the banks to end their investments in coal-fired power stations. In order to bring extra attention to the petition, a number of the banks were visited by a funeral procession, symbolically carrying out a funeral for coal.At every bank that was visited on the route of the funeral procession, a priest read an elegy… http://www.banktrack.org/show/news/symbolic_funeral_for_coal_at_the_offices_of_deutsche_bank_ing_bnp_paribas Tue, 01 Mar 2011 00:00:00 +0100 http://www.banktrack.org/show/news/son_of_equatorial_guinea_s_dictator_plans_one_of_world_s_most_expensive_yachts Global Witness has learned that Teodorin Obiang, the notorious son of Equatorial Guinea's long-ruling dictator, commissioned plans to build a superyacht worth $380 million - almost three times more than his energy-rich country spends annually on health and education programs combined [1]. This news comes amid an increasingly heated debate about how Middle Eastern dictators and their family members have enjoyed luxury lifestyles, as well as stashing their assets in foreign countries. Teodorin (full… http://www.banktrack.org/show/news/son_of_equatorial_guinea_s_dictator_plans_one_of_world_s_most_expensive_yachts Mon, 28 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/don_t_make_it_easier_for_dictators_to_steal This comment piece by Anthea Lawson, the head of Global Witness's Kleptocracycampaign, was published in the Financial Times on 24th February 2011 The world may belatedly be waking up to the damage done by a financial system that allows corrupt heads of state to hide loot in respected foreign banks. Wednesday's calls for the seizure of the Gaddafi family's assets have come far too late for those Libyans now on the streets enduring the regime's brutality. Last week saw a similar scramble to locate… http://www.banktrack.org/show/news/don_t_make_it_easier_for_dictators_to_steal Thu, 24 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/protests_outside_treasury_over_rbs_oil_investments As bailed-out bank RBS publishes details of its 2010 financial results, campaigners call on the government to cure RBS of its high-risk oil addition. RBS's results show that it is still not making a profit and today's (24 February) stunt in London highlights the unhealthy investments of an unhealthy bank. Campaigners from Friends of the Earth Scotland and the World Development Movement are urging the government, as majority shareholder in the bank, to use its power to switch the investments of the… http://www.banktrack.org/show/news/protests_outside_treasury_over_rbs_oil_investments Thu, 24 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/financial_speculation_tax_introduced Friends of the Earth announces strong support for Rep. Pete Stark's proposed financial transactions tax An idea gaining popularity around the world -- placing a miniscule tax on financial speculation in order to fund urgent priorities -- has come to the United States in the form of legislation introduced in Congress today by Representative Pete Stark (D-Calif). The legislation, called "The Investing in Our Future Act of 2011" (H.R. 755) would place an extremely small tax (0.005 percent) on currency… http://www.banktrack.org/show/news/financial_speculation_tax_introduced Thu, 17 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/bnp_paribas_releases_new_policy_on_nuclear_financing With 13.5 billion euro investments in the nuclear industry between 2000 and 2009, BNP Paribas is the n°1 nuclear bank in the world. BNP Paribas just published its new policy on the financing of nuclear power plants, subjecting its loans to nuclear power projects to specific conditions. BNP Paribas recently also announced its participation in the financing of the Angra 3 nuclear power plant in Brazil. Friends of the Earth France would like to remind BNP Paribas that nuclear energy cannot be considered… http://www.banktrack.org/show/news/bnp_paribas_releases_new_policy_on_nuclear_financing Tue, 15 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/bangladesh_ban_coal_mine_save_forests_and_farms Phulbari open-pit mine would displace thousands of Indigenous people. A British company is trying to sell a bill of goods to one of the world's poorest countries, Bangladesh. Global Coal Management Resources (GCM) wants to bulldoze 12,000 acres of Bangladesh's most productive agricultural land and replace it with one of the world's largest open-pit coal mines. By their own account, they would forcibly displace 40,000 people in the Phulbari region, including at least 2,200 Indigenous people whose… http://www.banktrack.org/show/news/bangladesh_ban_coal_mine_save_forests_and_farms Wed, 09 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/dam_affected_people_deliver_half_a_million_signatures_calling_on_brazil_s_president_dilma_to_stop_the_belo_monte_dam Brasilia, Brazil - Over half a million people, most of them Brazilians, are calling on newly-elected President Dilma to halt plans to construct the Belo Monte Dam. Outside the Brazilian Congress and Presidential Palace this morning, several hundred people gathered in protest including indigenous chiefs in full tribal regalia and community leaders from the Xingu River Basin, and delivered the petition signatures to the Dilma Government. A delegation of leaders went inside the Presidential Palace… http://www.banktrack.org/show/news/dam_affected_people_deliver_half_a_million_signatures_calling_on_brazil_s_president_dilma_to_stop_the_belo_monte_dam Tue, 08 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/new_ubs_policy_fizzles   ‘Tis the season for new bank environmental and social policies! Last Friday, UBS was the latest to announce an updated “Responsible Banking” policy. Let’s see how it stacks up. First off, we have to commend UBS and other banks for choosing to make environmental and social commitments public. Transparency is a critically necessary component of responsible banking, and UBS’ move to define certain “no go” activities also merits praise. By making these exclusions and its broader commitments… http://www.banktrack.org/show/news/new_ubs_policy_fizzles Mon, 07 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/developer_backing_out_of_loan_for_construction_of_risky_belo_monte_dam Rio de Janeiro, Brazil-After learning that the Brazilian National Development Bank (BNDES) will not release funds from the $640 million bridge loan issued in late December unless Brazilian legislation is honored, the dam consortium Norte Energia, S.A. (NESA) is threatening to drop the loan and is now seeking private funders to finance initial construction on the Belo Monte Dam Complex in the Brazilian Amazon. This follows last week's issuance of a "partial" installation license-non-existent within… http://www.banktrack.org/show/news/developer_backing_out_of_loan_for_construction_of_risky_belo_monte_dam Mon, 07 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/woodside_protests_arrests_attract_international_attention Woodside protests & arrests attract international attention Last week, the campaign to protect the Kimberley coast from Woodside's industrialisation plans heated up when activists protested outside Woodside offices in Perth and Broome - resulting in two arrests. Our protest banner and dead whale outside Woodside's offices in Perth The protests coincided with Woodside's hosting of a series of meetings with the Browse LNG Joint Venture Partners (Shell, Chevron, BP & BHP Billiton) to try to convince… http://www.banktrack.org/show/news/woodside_protests_arrests_attract_international_attention Mon, 07 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/keystone_xl_won_t_decrease_unfriendly_oil_imports_either Yesterday, AP reported that the proposed Keystone XL tar sands pipeline to Texas won't decrease gas prices (I broke that story last month, but who's counting). In fact, a report commissioned by pipeline sponsor TransCanada now shows that connecting tar sands producers with Gulf Coast refiners actually pushes gas prices up for everybody. That same report contains another unreported secret: Keystone XL won't decrease so-called "unfriendly" oil imports either. According to the same 2008 report, if… http://www.banktrack.org/show/news/keystone_xl_won_t_decrease_unfriendly_oil_imports_either Mon, 07 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/more_lies_on_midwestern_tar_sands_pipeline   With approval of his $7 billion KeystoneXL pipeline uncertain,  TransCanada CEO Russ Girling is now saying the project has nothing to do with Canada's tar sands. But that's not the story he's telling investors. In an interview reported today by Lauren Krugel of the Canadian Press, CEO Russ Girling said: I don't believe that there's a causal link between the two... It will be developed responsibly, in my view, irrespective of whether we build a pipeline or not... That oil will go someplace,… http://www.banktrack.org/show/news/more_lies_on_midwestern_tar_sands_pipeline Mon, 07 Feb 2011 00:00:00 +0100 http://www.banktrack.org/show/news/hsbc_takes_a_step_away_from_tar_sands This week, HSBC became the second international bank in as many months to take a step away from financing in the Tar Sands. The bank hinted in press reports last year that it was reviewing its tar sands business. Now the London-based bank has come through. In a post to its website, the bank quietly revised its "Energy Sector Policy" to clarify that: HSBC has policy restrictions where customers are involved in the principal processes of mining, extraction and upgrading. We undertake a balanced analysis… http://www.banktrack.org/show/news/hsbc_takes_a_step_away_from_tar_sands Wed, 26 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/the_pandora_s_box_of_mekong_dams   When Zeus warned Pandora never to open the box given to her, the temptation proved too strong and Pandora forever unleashed into the world misery, suffering and sorrow. Today, much like this mythical Greek tragedy, the decision-makers of the Mekong sub-region face a similar temptation in the form of a cascade of hydropower dams proposed for the Mekong River's mainstream.As one of the first of the Mekong mainstream dams that could be unleashed from Pandora's Box, the decision on whether or not… http://www.banktrack.org/show/news/the_pandora_s_box_of_mekong_dams Tue, 25 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_finds_bank_carbon_principles_did_not_curb_financing_of_coal Today Rainforest Action Network (RAN) released, 'The Principle Matter; Banks, Climate and The Carbon Principles', a new report assessing the impact of the much-lauded 2008 Carbon Principles signed by six of the country's leading banks. In reviewing bank investment from January 2008 to June of 2010, the report found that there is no evidence that the Carbon Principles stopped or slowed financing to carbon-intensive projects. In addition, the report found that there is no evidence that the Carbon… http://www.banktrack.org/show/news/new_report_finds_bank_carbon_principles_did_not_curb_financing_of_coal Fri, 21 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_biofuel_wonder_crop_jatropha_fails_to_deliver The much-touted biofuel crop jatropha is neither a profitable nor a sustainable investment, according to a new report released by Friends of the Earth Europe today. 'Jatropha: money doesn't grow on trees' warns investors away from jatropha - a shrub being increasingly planted for its oil-producing fruits and ability to survive in arid conditions - stating growing evidence that the crop is failing to deliver on its promises while simultaneously failing to prevent climate change or contribute to pro-poor… http://www.banktrack.org/show/news/new_report_biofuel_wonder_crop_jatropha_fails_to_deliver Thu, 20 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/risky_business_in_the_amazon The Belo Monte Dam Complex, slated to begin construction in April along the Xingu River in heart of the Brazilian Amazon, not only threatens ecological integrity and the livelihoods of indigenous peoples and other local communities but also presents tremendous risks for financiers, investors and the country's taxpayers, according to a new report issued by International Rivers and Friends of the Earth - Brazilian Amazonia.  The report "Mega-Project, Mega Risks: Analysis of Risks for Investors in… http://www.banktrack.org/show/news/risky_business_in_the_amazon Wed, 19 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/stop_tar_sands_trade_talks European and Canadian civil society groups joined together today outside Canada-EU free trade talks to give a clear warning to the public and negotiators that increasing Europe's involvement in the Canadian tar sands is unacceptable. The diverse groups held a "Stop Tar Sands Trade Talks" banner, and placards with an oily Canadian flag dripping onto an EU flag, while also distributing information outside European Commission headquarters to draw attention to the sixth round of Canada-EU Comprehensive… http://www.banktrack.org/show/news/stop_tar_sands_trade_talks Mon, 17 Jan 2011 00:00:00 +0100 http://www.banktrack.org/show/news/rbc_takes_step_away_from_tar_sands The Royal Bank of Canada (RBC) today made public its new environmental and social standards, which will govern financing of clients in high-impact sectors including Canada's tar sands. The announcement marks a significant about face on tar sands by one of the sectors biggest financiers. The policy is the first by a major international bank to document whether bank clients have received consent from Indigenous communities. This follows nearly two years of campaigning by Rainforest Action Network… http://www.banktrack.org/show/news/rbc_takes_step_away_from_tar_sands Thu, 23 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/urgewald_publishes_new_consumer_brochure_on_nuclear_banks On December 21, the German Banktrack member urgewald launched its new consumer brochure "How radioactive is my bank?". The brochure identifies which German banks are most heavily involved with the nuclear industry and gives detailed descriptions of the individual deals per bank. With 7.8 billion Euro in nuclear deals, Deutsche Bank is  Germany's most radioactive bank. It is followed by Commerzbank with 3,9 bio. Euro and HVB/Unicredit with 2,3 bio Euro. "I'm not surprised that we are being swamped… http://www.banktrack.org/show/news/urgewald_publishes_new_consumer_brochure_on_nuclear_banks Wed, 22 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/wikileaks_cables_confirm_concerns_of_iap_and_partners_in_bangladesh_mine_case When the news broke yesterday that a WikiLeaks cable revealed US diplomats secretly pushed the Bangladeshi government to re-open plans for a massive coal mine, the cable provided evidence that confirmed concerns raised since 2008 by a national organization in Bangladesh and international human rights groups, including San Francisco-based International Accountability Project (http://AccountabilityProject.org): "WikiLeaks cables prove that US officials chose to ignore the tens of thousands of Bangladeshi… http://www.banktrack.org/show/news/wikileaks_cables_confirm_concerns_of_iap_and_partners_in_bangladesh_mine_case Wed, 22 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/swiss_bankers_clean_up_their_act [The following commentary, with illustrations and links to the original documents, lives at International Rivers] UBS, one of the world's biggest banks, has been accused of dirty business for years. The Swiss bank helped the Marcos and Mobutu clans stash away their ill-gotten wealth, and allegedly funneled more than $1 billion into Bernie Madoff's Ponzi scheme. It was a key financier of South Africa's apartheid regime, and funds destructive coal mines around the world. A leaked document shows that… http://www.banktrack.org/show/news/swiss_bankers_clean_up_their_act Tue, 21 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/sudanese_president_may_have_9_billion_with_lloyds_bank UK Taxpayer-funded Lloyds bank may have "stashed" $9 billion for President Omar al-Bashir of Sudan, according to Wikileaks cables published in the Guardian today. Lloyds must now confirm if this is true or not and if it is then the bank must publicly explain what due diligence checks it has done to ensure that these funds are not the proceeds of corruption, said Global Witness. Leaked US embassy cables state that the chief prosecutor of the International Criminal Court (ICC), Luis Moreno-Ocampo,… http://www.banktrack.org/show/news/sudanese_president_may_have_9_billion_with_lloyds_bank Sat, 18 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/dutch_unknowingly_invest_in_extremely_polluting_oil_production Dutch citizens invested 1.6 billion euro's in extremely polluting oil production from tar sands via their pension funds. This was revealed last Monday in a report published by Friends of the Earth Netherlands. By investing in the tar sands, Dutch pension funds finance the emission of extra greenhouse gases and the destruction of Canadian primal forests. Unwittingly many Dutch invest in this unsustainable way of producing oil. Tar sands Tar sands are areas where heavy oil is mixed with sand and water.… http://www.banktrack.org/show/news/dutch_unknowingly_invest_in_extremely_polluting_oil_production Thu, 16 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/schweizer_banken_auf_dem_holzweg Papier- und Palmölproduzenten verzeichnen in Indonesien seit einigen Jahren ein unglaubliches Wachstum - auf Kosten der Umwelt. Möglich wird die rapide Expansion der Plantagenflächen in Regenwald- und Torfmoorgebiete unter anderem durch ausländische Finanzinstitute. Zu den Geldgebern der notorischen Urwaldvernichter gehört auch die Schweizer Grossbank UBS. Diese profitiert von Geschäftsverbindungen mit der Sinar Mas Gruppe, welcher die Holding-Gesellschaft Golden Agri Ressources (GAR) im Palmölbereich… http://www.banktrack.org/show/news/schweizer_banken_auf_dem_holzweg Thu, 16 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/report_exposes_burma_related_holdings_in_norwegian_sovereign_wealth_fund A new report released today by EarthRights International finds the Norwegian government violating it own ethical guidelines with USD $4.7 billion invested in 15 companies in Burma connected to killings, forced labor, land confiscation around their project sites.New evidence and firsthand testimonies from inside Burma link companies in the Norwegian Government's investment portfolio to ongoing human rights abuses by the Burmese Army on behalf of the companies and their projects, putting Norway in… http://www.banktrack.org/show/news/report_exposes_burma_related_holdings_in_norwegian_sovereign_wealth_fund Wed, 15 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/nam_theun_2_inauguration_hides_real_costs_of_controversial_equator_principles_project Amidst much fanfare, French President Nicholas Sarkozy and senior World Bank and Asian Development Bank officials are expected to attend a gala ceremony inaugurating the Nam Theun 2 Hydropower Project in Laos this week. But for the tens of thousands of people who are suffering the impacts of Nam Theun 2, there is little to celebrate. The project has displaced 6,200 indigenous people on the Nakai Plateau and affected more than 100,000 people living downstream along the Xe Bang Fai River. Funded by… http://www.banktrack.org/show/news/nam_theun_2_inauguration_hides_real_costs_of_controversial_equator_principles_project Tue, 07 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/bankrun_solutions_do_exist Two month ago, Eric Cantona explained in a video that « the system is built on the power of banks » and that the « true revolution » will come the day when everyone withdraws his money from his bank to attack the system in its heart. While a group of citizens launched a massive call to do this today, Friends of the Earth France rather advises citizens who wish to participate to this "bankrun" to change bank definitely and/or to use their savings in a truly responsible manner. Indeed, solutions… http://www.banktrack.org/show/news/bankrun_solutions_do_exist Tue, 07 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/india_to_build_nuclear_reactors_in_earthquake_zone_with_help_from_bnp_paribas As French president Nicholas Sarkozy visits India in his role as salesman for the nuclear industry, Greenpeace activists today visited the headquarters of France’s BNP Paribas bank to tell it to stop its radioactive investment in new nuclear reactors. The bank’s latest folly is to pump cash into the construction of two French-designed EPR nuclear reactors in the earthquake zone in India’s Jaitapur region. The area is crossed by three tectonic faults. Between 1990 and 2000 there were three… http://www.banktrack.org/show/news/india_to_build_nuclear_reactors_in_earthquake_zone_with_help_from_bnp_paribas Mon, 06 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/worst_eu_lobbyists_2010_revealed_rwe_goldman_sachs_and_isda RWE (npower), Goldman Sachs and derivatives lobby group ISDA have been given the dubious honour of being named the Worst EU Lobbyists of 2010. The results of the dual climate and finance categories of the Worst EU Lobbying Awards 2010 [1] were revealed today during a ceremony outside the ISDA office in Brussels. Citizens across Europe participated in an online public vote for the most deserving of the climate and finance nominees. Voters sent a clear message to EU transparency and ethics Commissioner… http://www.banktrack.org/show/news/worst_eu_lobbyists_2010_revealed_rwe_goldman_sachs_and_isda Thu, 02 Dec 2010 00:00:00 +0100 http://www.banktrack.org/show/news/success_credit_suisse_takes_a_step_toward_transparency Bowing to civil society pressure, Credit Suisse for the first time published summaries of its internal guidelines and instructions for dealing with industries whose social and environmental record is cause for concern. The Berne Declaration welcomes the bank's move towards more transparency but at the same time regrets that human  rights receive so little attention in the partly published guidelines. For many years, the Berne Declaration has been researching and documenting the involvement of large… http://www.banktrack.org/show/news/success_credit_suisse_takes_a_step_toward_transparency Thu, 25 Nov 2010 00:00:00 +0100 http://www.banktrack.org/show/news/lancement_du_premier_calculateur_de_l_empreinte_carbone_de_notre_epargne Le cabinet de conseil Utopies, l'association Les Amis de la Terre et le site web Mescoursespourlaplanete.com lancent aujourd'hui un outil en ligne inédit pour calculer l'empreinte carbone de l'argent déposé par les épargnants dans leur(s) banque(s). Contrairement à une idée reçue, les dépôts et placements des particuliers ne restent pas dans le coffre de leur banque : ils financent des activités économiques qui émettent des gaz à effet de serre. Ainsi 5 000 euros sur un compte courant… http://www.banktrack.org/show/news/lancement_du_premier_calculateur_de_l_empreinte_carbone_de_notre_epargne Mon, 22 Nov 2010 00:00:00 +0100 http://www.banktrack.org/show/news/turkish_dam_policy_discussed_in_eu Today the EU received unusual visitors from Turkey. Not high ranking politicians or entrepreneurs from Ankara, but 20 representatives of anti dam movements from all regions of Turkey. They delivered first hand reports to parliamentarians and the commission on hydroelectric power plants and their devastating impacts on the people, nature and cultural goods. And they spoke about their resistance. Together with China and Brazil, Turkey is the country with most hydroelectric projects in planning. The… http://www.banktrack.org/show/news/turkish_dam_policy_discussed_in_eu Thu, 18 Nov 2010 00:00:00 +0100 http://www.banktrack.org/show/news/prix_pour_credit_agricole_les_prix_pinocchio_du_developpement_durable_2010 Les Amis de la Terre ont décerné le 9 novembre les Prix Pinocchio du développement durable 2010, sur la base des votes des internautes. Cette année, les lauréats sont le groupe Somdiaa dans la catégorie « droits humains », Eramet dans la catégorie « environnement », et le Crédit Agricole dans la catégorie « greenwashing ». Dans la catégorie « droits humains » c’est le groupe Somdiaa, dirigé par la famille Vilgrain, qui a reçu le prix avec 32 % des votes dans sa catégorie,… http://www.banktrack.org/show/news/prix_pour_credit_agricole_les_prix_pinocchio_du_developpement_durable_2010 Tue, 09 Nov 2010 00:00:00 +0100 http://www.banktrack.org/show/news/ilisu_dam_turkey_handing_over_of_keys_for_new_houses_a_cynical_act_against_international_standards By symbolically handing over the keys for the houses of New Ilisu, the Turkish Prime Minister Erdogan publicly celebrated not the resettlement, but according to international standards the displacement of the villagers. Last Sunday October 31st , the Turkish Premier Erdogan went to the tiny village Ilisu for a big ceremony. He handed over the keys for the new pink houses. "With nice slogans and glossy house facades the Turkish government tries to cover-up that for building the Ilisu dam it is sacrificing… http://www.banktrack.org/show/news/ilisu_dam_turkey_handing_over_of_keys_for_new_houses_a_cynical_act_against_international_standards Thu, 04 Nov 2010 00:00:00 +0100 http://www.banktrack.org/show/news/chinese_ngos_announce_third_green_banking_innovation_award (September 2010, Beijing) Nine Chinese NGOs presented the 2009 "Green Banking Innovation Award" and the "Environmental Information Disclosure Award" to China Merchants Bank and Industrial Bank, respectively. The awards are part of the Economic Observer magazine's Best Chinese Banks annual awards ceremony.  However, the jury is comprised of nine independent NGOs including Green Watershed, Friends of Nature, Institute of Public & Environmental Affairs, Green Earth Volunteer, Global Environmental… http://www.banktrack.org/show/news/chinese_ngos_announce_third_green_banking_innovation_award Fri, 22 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/greenpeace_tells_bnp_paribas_stop_dangerous_radioactive_investments_ This morning, Greenpeace activists in a number of European countries (1) called on the international bank BNP Paribas to "stop radioactive investments", including its plans to fund an obsolete, dangerous nuclear reactor in Brazil.  In Paris, Greenpeace activists used a BNP decorated armoured truck to deliver millions of fake ‘radioactive BNP-Paribas notes' to AREVA's, headquarters, the company that is building Angra 3, exposing the nuclear link between the two.  The banking group, which provides… http://www.banktrack.org/show/news/greenpeace_tells_bnp_paribas_stop_dangerous_radioactive_investments_ Thu, 21 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/cs_richtlinien_sind_ein_halber_schritt_in_die_richtige_richtung Die Credit Suisse hat auf zivilgesellschaftlichen Druck dieser Tage erstmals Zusammenfassungen ihrer internen Weisungen und Richtlinien für den Umgang mit sozial und ökologisch problematischen Branchen publiziert. Die Erklärung von Bern begrüsst diese überfällige Bewegung in Richtung mehr Transparenzbedauert aber zugleich, dass die Menschenrechte darin nur unzureichend Beachtung finden.  Seit Jahren recherchiert und dokumentiert die EvB die Verstrickung der Schweizer Grossbanken in Geschäfte… http://www.banktrack.org/show/news/cs_richtlinien_sind_ein_halber_schritt_in_die_richtige_richtung Thu, 21 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/forests_breakthrough_environment_groups_and_forestry_sector_sign_agreement A major breakthrough has been achieved in the long running dispute over Tasmania's forests. Timber communities, forest unions, industry and environment groups today announced an agreement has been reached to develop a more sustainable timber industry and end logging the state's remaining valuable native forests. The "Tasmanian Forests Statement of Principles" sets the state's timber industry on a new path to economic opportunities through plantation-based forestry, protecting timber worker's jobs… http://www.banktrack.org/show/news/forests_breakthrough_environment_groups_and_forestry_sector_sign_agreement Wed, 20 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/a_tale_of_two_swiss_banks We've been keeping our eyes on the Swiss alps as we fight to stop the destruction of Appalachia's beautiful mountains. The reason? International banking giants provide major finance to some of the coal companies who blow up mountains to mine coal and the biggest global funder of mountaintop removal (MTR) is the largest Swiss bank, UBS. Today we heard some good news from the other major Swiss bank, Credit Suisse, who has published summaries of their lending guidelines. The exciting part for me is… http://www.banktrack.org/show/news/a_tale_of_two_swiss_banks Wed, 20 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/greenpeace_illuminates_anz_as_australia_s_dirtiest_bank Tuesday 19th October - Greenpeace launched a new campaign to illuminate the role of ANZ as the biggest financier of polluting coal power in Australia. Greenpeace activists projected a redesigned ANZ logo and tag line "We Pollute Your World" onto a cooling tower at Yallourn - the third most polluting power station in Australia and one of ten across the country financed by ANZ over the last five years. A new report we commissioned exposed the role the big four banks play in propping up pollution.… http://www.banktrack.org/show/news/greenpeace_illuminates_anz_as_australia_s_dirtiest_bank Tue, 19 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/protest_camp_against_the_ilisu_dam_in_hasankeyf_turkey From October 11th until Sunday, October 17th, a protest camp against the construction of the Ilisu Dam has been set up on the banks of the Tigris river in the antique town of Hasankeyf in South-Eastern Turkey. Approximately 150 people, mostly from the surrounding region, have visited the camp every day. But there are also participants from New Zealand, France, Germany and Austria to protest against the construction of the Ilisu dam. The event aimed to inform about the project, additional events… http://www.banktrack.org/show/news/protest_camp_against_the_ilisu_dam_in_hasankeyf_turkey Fri, 15 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/medupi_afrique_du_sud_le_credit_agricole_finance_un_projet_charbonnier_climaticide En dépit de la campagne mondiale d'opposition de la société civile, le Crédit Agricole a approuvé récemment un prêt de 63,7 millions d'euros à la compagnie Eskom en Afrique du Sud, pour la construction de la gigantesque centrale à charbon de Medupi. Les Amis de la Terre avaient déjà condamné en avril 2010 la décision de la Banque Mondiale1 de financer ce même projet aux impacts très lourds pour le climat et l'environnement, et qui n'améliorera en rien l'accès à l'électricité… http://www.banktrack.org/show/news/medupi_afrique_du_sud_le_credit_agricole_finance_un_projet_charbonnier_climaticide Thu, 14 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/medupi_south_africa_credit_agricole_finances_a_climate_destructive_coal_project In spite of a global civil society campaign, Crédit Agricole has recently approved a 63,7 millions euros loan to Eskom in South Africa, for the construction of the gigantic Medupi coal power plant. In April 2010, Les Amis de la Terre had already condemned the World Bank decision1 of financing the same project, which will have heavy impacts on the climate and the local environment, and that will not at all improve the access to electricity for South African people. Les Amis de la Terre condemn this… http://www.banktrack.org/show/news/medupi_south_africa_credit_agricole_finances_a_climate_destructive_coal_project Thu, 14 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/british_banks_complicit_in_nigerian_corruption_court_documents_reveal British high street banks have accepted millions of pounds in deposits from corrupt Nigerian politicians, raising serious questions about their commitment to tackling financial crime, warned Global Witness in a report published today. By taking money from corrupt Nigerian governors between 1999 and 2005, Barclays, NatWest, RBS, HSBC and UBS helped to fuel corruption and entrench poverty in Nigeria. What is so extraordinary about this story is that nearly all of these of these banks had previously… http://www.banktrack.org/show/news/british_banks_complicit_in_nigerian_corruption_court_documents_reveal Mon, 11 Oct 2010 00:00:00 +0200 http://www.banktrack.org/show/news/nab_the_bank_with_std_ In an era where banks are trying to look like good corporate citizens - the National Australia Bank has an unenviable record when it comes to supporting mines that dump their waste into rivers and oceans. "The use of submarine or riverine tailings disposal is not an acceptable method of mine waste disposal" said Charles Roche, Executive Director of the Mineral Policy Institute "Any bank that supports the use of riverine or submarine tailings disposal fails the test of corporate social responsibility."… http://www.banktrack.org/show/news/nab_the_bank_with_std_ Thu, 30 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/mexican_village_becomes_global_hub_of_dam_fighting_for_a_week This week, more than 300 people from 60 countries will gather in the small village of Temacapulín, Mexico, for "Rivers for Life 3," a global gathering of dam-affected people and their allies. From October 1-7, Temacapulin will almost double in size and become the hub of the global movement to protect rivers from the ravages of destructive dams. "Rivers for Life 3 will bring together people whose lives have been harmed by dams, activists, and experts in clean energy and sustainable water projects… http://www.banktrack.org/show/news/mexican_village_becomes_global_hub_of_dam_fighting_for_a_week Wed, 29 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/people_s_charter_for_rbs Billboards around the country proudly announce the Royal Bank of Scotland's 14 vague commitments to improve customer services. So, we have launched an alternative People's Charter for RBS, outlining a green future for the Royal Bank of Scotland.  Our Charter proposes real changes that would turn the 83% publicly owned bank RBS into a Royal Bank of Sustainability. We commit to withdrawing investment in companies and projects that damage the environment and destroy human rights We will withdraw current,… http://www.banktrack.org/show/news/people_s_charter_for_rbs Thu, 23 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/call_for_hasankeyf_solidarity_camp_between_11_17_october_2010 We, the Initiative to Keep Hasankeyf Alive, call on all concerned individuals and organizations to participate in and support our planned 'Hasankeyf Solidarity Camp' which will take place on 11-17 October 2010 in Hasankeyf in the Tigris Valley, which is threatened by the construction of Turkey's destructive Ilisu Dam Project.The Ilisu Dam project will submerge the magnificent cultural and natural richness of the ancient city of Hasankeyf and severely impact the Tigris Valley downstream. Some… http://www.banktrack.org/show/news/call_for_hasankeyf_solidarity_camp_between_11_17_october_2010 Wed, 22 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/mais_de_100_organizacoes_alertam_bb_sobre_financiamento_para_belo_monte Mais de 100 organizações da sociedade civil brasileira e internacional enviaram uma notificação extrajudicial ao Banco do Brasil nesta terça-feira (21), cobrando que o banco não financie a usina hidrelétrica de Belo Monte, no rio Xingu (PA). O documento levanta os diversos problemas socioambientais e de direitos humanos que a usina de Belo Monte deve causar, como impactos na qualidade da água ou a seca que a usina causará na Volta Grande do Xingu, onde vivem centenas de famílias que… http://www.banktrack.org/show/news/mais_de_100_organizacoes_alertam_bb_sobre_financiamento_para_belo_monte Tue, 21 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/european_banks_provide_fuel_for_the_conflict_in_sudan This week president Obama is attending a United Nations summit on Sudan in order to direct attention to the ongoing conflict and humanitarian crisis in Darfur. Last year ING, BNP Paribas and Deutsche Bank together owned almost € 150 million of shares in PetroChina, one of the most important players in the oil industry in Sudan fuelling the conflict. This alarming example in the SOMO publication ‘Investing Responsibly: A Financial Puzzle', which is published today, illustrates the need to seriously… http://www.banktrack.org/show/news/european_banks_provide_fuel_for_the_conflict_in_sudan Mon, 20 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/finance_responsable_les_amis_de_la_terre_enterrent_l_isr Les Amis de la Terre publient aujourd'hui le rapport Investissement socialement responsable : l'heure du tri (1) qui analyse la composition des fonds dits "éthiques" ou "ISR" (Investissement socialement responsable) et met ainsi en lumière l'écart entre la promesse des intitulés et la réalité des faits. Ces fonds sont en effet investis dans des entreprises multinationales ayant des pratiques sociales et environnementales désastreuses. La publication du rapport s'accompagne de la sortie… http://www.banktrack.org/show/news/finance_responsable_les_amis_de_la_terre_enterrent_l_isr Mon, 20 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/chinese_loan_underwrites_gibe_3_dam_destruction NGOs are outraged after confirmation that the world's largest bank will finance the destructive Gibe 3 hydropower dam. The Industrial and Commercial Bank of China (ICBC) is underwriting a $500 million contract awarded May 13 to Dongfang Electric Corporation for the dam's turbines and electro-mechanical works. Although ICBC has not publicly announced the loan, an official confirmed September 8 by email that the financial agreement between ICBC and the Ethiopian government was signed in July. The… http://www.banktrack.org/show/news/chinese_loan_underwrites_gibe_3_dam_destruction Fri, 17 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/environment_groups_welcome_gunns_frank_assessment_on_native_forests The Wilderness Society, the Australian Conservation Foundation and Environment Tasmania welcomed the long awaited announcement by the Chief Executive of Gunns to move out of native forest logging and work with the community and conservation groups to "find joint solutions to age-old conflicts and move beyond [to] a real, sustainable forest industry".  These comments forecast a change in direction to the long running conflict over forestry in Tasmania. The Wilderness Society spokesperson Paul Oosting… http://www.banktrack.org/show/news/environment_groups_welcome_gunns_frank_assessment_on_native_forests Fri, 10 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/environment_groups_welcome_gunns_frank_assessment_on_native_forests_1 The Wilderness Society, the Australian Conservation Foundation and Environment Tasmania welcomed the long awaited announcement by the Chief Executive of Gunns to move out of native forest logging and work with the community and conservation groups to "find joint solutions to age-old conflicts and move beyond [to] a real, sustainable forest industry". These comments forecast a change in direction to the long running conflict overforestry in Tasmania. The Wilderness Society spokesperson Paul Oosting… http://www.banktrack.org/show/news/environment_groups_welcome_gunns_frank_assessment_on_native_forests_1 Fri, 10 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/ecuador_s_most_spectacular_waterfall_threatened_by_chinese_funded_hydroelectric_project A massive new Chinese-funded hydroelectric project now threatens Ecuador's San Rafael Falls, one of the truly great waterfalls of the world. In early June, the Export-Import Bank of China, after a long and rocky negotiation period, succeeded in signing a $1.68 billion loan to Ecuador for the construction of the 1,500 MW Coca-Codo Sinclair Hydroelectric Project. Last week, the Chinese contractor Sinohydro officially started work on the project that is scheduled to be completed in the year 2016. However,… http://www.banktrack.org/show/news/ecuador_s_most_spectacular_waterfall_threatened_by_chinese_funded_hydroelectric_project Tue, 07 Sep 2010 00:00:00 +0200 http://www.banktrack.org/show/news/how_an_arctic_oil_rush_will_help_suffocate_the_planet Can you believe the Esperanza has been in the Arctic for a week now? When we arrived the sea was a mill pond and the sky clear and spectacularwith sunsets that go on for hours, as if they'd never end. What a difference a week makes. Last night the seas tossed us around in our bunks, throwing all it could find to the floor, thwacking everything in cupboards against their sides, like an angry poltergeist. Even the sink was making a sound like a person drowning, emitting a foul stink, whilstthe toilet… http://www.banktrack.org/show/news/how_an_arctic_oil_rush_will_help_suffocate_the_planet Sat, 28 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/gibe_3_african_development_bank_and_european_investment_bank_out_who_s_in_ Ethiopia's Gibe 3 Dam remains the most destructive dam being built today. According to the official project website, Ethiopia plans to pay $572 million (448m Euros) from their own pockets. But the rest of the dam's $2 billion (1.55b Euros) price tag remains unfunded. Which banks are being chased to fund this highly destructive dam? Here’s the rundown: Development Banks Out Earlier this month, the African Development Bank officially withdrew its funding consideration, as did the European Investment… http://www.banktrack.org/show/news/gibe_3_african_development_bank_and_european_investment_bank_out_who_s_in_ Fri, 27 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/u_s_agency_votes_to_finance_giant_coal_plant_in_india United States Export-Import Bank Votes for final commitment on Sasan coal fired power project Civil society condemns taxpayer money used to fund corporate welfare and fossil fuels   Washington, D.C. -  After bowing to political pressure to reverse its rejection of the 3,960 MW Sasan coal-fired Ultra Mega Power and Mine Project, the United States Export-Import Bank (Ex-Im Bank) voted on Wednesday to provide a "final commitment" and send the project to Congress for final review. The move marks the… http://www.banktrack.org/show/news/u_s_agency_votes_to_finance_giant_coal_plant_in_india Wed, 25 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/historic_indigenous_summit_calls_for_halting_brazil_s_belo_monte_dam Hundreds of indigenous leaders from throughout the Brazilian Amazon Basin joined local riverbank dwellers and dam-affected people this week for the historic Terra Livre Regional Encampment. Bearing the message "Defend the Xingu: Stop Belo Monte," participants occupied the riverside port of Altamira, Pará to discuss threats posed by major infrastructure projects in the Amazon, in particular the controversial Belo Monte Dam on the Xingu River. Organized by the Coordinating Body of Indigenous Organizations… http://www.banktrack.org/show/news/historic_indigenous_summit_calls_for_halting_brazil_s_belo_monte_dam Fri, 13 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/the_gibe_3_dam_a_test_case_for_china_s_role_in_africa The Gibe 3 Dam in Ethiopia is Africa’s most destructive dam project. So far, the Ethiopian government has not managed to attract any international finance for it. After several other funders pulled out, China’s biggest bank is expected to decide about a loan for Gibe 3 soon. The decision is an important test case for the environmental responsibility of China’s overseas lenders. The Gibe 3 Dam is currently under construction on Ethiopia’s Omo River. As we have documented in eyewitness reports,… http://www.banktrack.org/show/news/the_gibe_3_dam_a_test_case_for_china_s_role_in_africa Mon, 09 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/global_witness_applauds_rbs_penalty_over_terrorist_financing Global Witness welcomes the decisive action taken by the UK financial regulator, the FSA, which has fined the Royal Bank of Scotland (RBS) £5.6 million for failing to check whether its customers were on the UK terrorist sanctions list. RBS' inability to properly vet its customers highlights concerns about the sort of customers banks are willing to accept.  Global Witness has repeatedly warned that banks are not doing enough to tackle the flow of dirty money, whether terrorist financing, tax evasion… http://www.banktrack.org/show/news/global_witness_applauds_rbs_penalty_over_terrorist_financing Wed, 04 Aug 2010 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_argues_rbs_should_be_turned_into_green_investment_bank New research released today finds that transforming the Royal Bank of Scotland into the Green Investment Bank would kick start the green energy revolution. The research, by former Pricewaterhouse Coopers consultant, James Leaton, finds that it would bring 50, 000 new green jobs a year, increase efficiency, reduce the UK's carbon emissions and improve international competitiveness - whilst not increasing the budget deficit. It has recently been reported that amidst confusion and wrangling between… http://www.banktrack.org/show/news/new_report_argues_rbs_should_be_turned_into_green_investment_bank Mon, 26 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/lack_of_private_sector_participation_in_belo_monte_dam_consortium_signals_investor_concerns_over_financial_risks This week's announcement detailing the members of the consortium seeking to build the controversial Belo Monte Dam in the Brazilian Amazon reveals a striking lack of private sector participation. The 18-member Norte Energia consortium(1) is marked by the absence of key players in the country's dam-building industry. State-owned or state-controlled participation in the consortium totals 77.5 percent, dwarfing the role of private sector investors and reflecting concerns about the financial risks associated… http://www.banktrack.org/show/news/lack_of_private_sector_participation_in_belo_monte_dam_consortium_signals_investor_concerns_over_financial_risks Fri, 16 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/rbs_targeted_by_protesters_at_international_banking_conference Activists from the London Camp for Climate Action and the UK Tar Sands Network attended the Annual International Bankers Conference [1] in London this morning to protest the Royal Bank of Scotland (RBS) using tax payers' money to finance destructive fossil fuel projects around the world. As bankers, including Stephen Hester, Head of RBS arrived at the conference, they were given ‘Never mind the bankers' newspapers, [2] while activists took turns to swipe at papier mache piggy banks emblazoned… http://www.banktrack.org/show/news/rbs_targeted_by_protesters_at_international_banking_conference Tue, 13 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/one_year_after_europe_s_withdrawal_from_the_ilisu_project_new_hope_for_hasankeyf_despite_restart_of_construction One year after Europe's withdrawal from the Ilisu project: new hope for Hasankeyf despite restart of construction One year ago on July 8th 2009 Germany, Austria and Switzerland quit their contracts concerning the Ilisu dam project with Turkey. In spring 2010 Turkey restarted construction on the Tigris river. But now there is new hope that the ancient city of Hasankeyf does not have to be destroyed by a giant reservoir. A new study, presented on July 6th at an international conference at the renowned… http://www.banktrack.org/show/news/one_year_after_europe_s_withdrawal_from_the_ilisu_project_new_hope_for_hasankeyf_despite_restart_of_construction Tue, 13 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/rbc_tables_an_offer_on_tar_sands The tar sands tide may finally be turning at Canada's biggest bank. RBC is among the largest financiers of Canada's Tar Sands but so far lacks policies adopted by other banks that seek to limit harm to Indigenous rights, water quality and climate. That may be changing. Last week, representatives from RBC showed us a summary of the new draft Environmental Risk policy that it hopes will fill the gap. It's too early to draw conclusions- the early draft has yet to be ratified by the bank's Senior Management-but… http://www.banktrack.org/show/news/rbc_tables_an_offer_on_tar_sands Mon, 12 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/new_rules_for_equator_principles_but_no_new_commitments_from_banks The new governance rules for the Equator Principles that are adopted today by the Equator Principles Association may improve the cooperation and decision making amongst Equator Principles financial institutions, but contain no new commitments on transparency and external accountability.[1] BankTrack -the international NGO network closely monitoring the Equator Principles since their inception in 2003- therefore considers the adoption of this particular set of governance rules a missed chance for… http://www.banktrack.org/show/news/new_rules_for_equator_principles_but_no_new_commitments_from_banks Thu, 01 Jul 2010 00:00:00 +0200 http://www.banktrack.org/show/news/pnc_and_ubs_financing_the_destruction_of_america_s_mountains Over the past couple of years, several of the biggest banks in the world have released policies and statements regarding investments in the mountaintop removal coal mining industry. According to the MTR report card that RAN released earlier this year, the biggest banks in the financial sector have begun to recognize MTR as a risky and socially irresponsible investment. However, two banks have emerged as major financiers of MTR companies that other banks won't touch: PNC and UBS. PNC is a small… http://www.banktrack.org/show/news/pnc_and_ubs_financing_the_destruction_of_america_s_mountains Sun, 27 Jun 2010 00:00:00 +0200 http://www.banktrack.org/show/news/andritz_on_banktrack_s_black_list_of_companies Today the international NGO-network BankTrack added Andritz AG to their list of firms with particularly devastating social and environmental practices. The Austrian company is now listed with firms like Exxon Mobil, Lockheed Martin or Walmart. Reasons behind this are the company's continuing participation in the Ilisu Dam project in south-eastern Turkey as well as their  involvement or planned involvement in further destructive projects, such as the Belo Monte Dam in Brazil or the Bell Bay Pulp… http://www.banktrack.org/show/news/andritz_on_banktrack_s_black_list_of_companies Thu, 17 Jun 2010 00:00:00 +0200 http://www.banktrack.org/show/news/andritz_europe_s_disgrace ECA Watch Austria and WWF Austria strongly critizised today Andritz' decision to continue their involvement with the Ilisu project on the Tigris river in south-eastern Turkey, and emphasized that such a decision will not go without consequences. The explanations of Andritz-CEO Wolfgang Leitner contradict reality and are nothing but a sequence of skewed facts, say project critics. The company’s decision is also a slap in the face for Germany, Austria and Switzerland’s governments, who withdrew… http://www.banktrack.org/show/news/andritz_europe_s_disgrace Tue, 15 Jun 2010 00:00:00 +0200 http://www.banktrack.org/show/news/bankruptcy_threatens_banks_operating_in_belgium In the past two years BNP Paribas, KBC, Dexia, Citibank, Deutsche Bank, ING and AXA have invested at least 25 billion euro in climate-threatening activities including new coal plants, oil extracted from tar sands, or the decimation of rain forests. Those are the conclusions from the report "Bankers on Hot Coals", which Netwerk Vlaanderen is presenting today. The NGO calls on the banks to cease investing in new coal plants immediately en therefore launches the petition Bankruptcy in cooperation with… http://www.banktrack.org/show/news/bankruptcy_threatens_banks_operating_in_belgium Wed, 02 Jun 2010 00:00:00 +0200 http://www.banktrack.org/show/news/new_scandals_in_ilisu_project According to information from the 'Initiative to keep Hasankeyf alive', the inhabitants of Ilisu village are to be resettled in two months time. It has now become clear that this will threaten their material existence; they will have to pay 50,000 Turkish Lira (ca. 25,000 Euro) more for their new houses than what they receive in compensation from the Turkish state. While they receive max. 20,000 TRY in compensation, the new houses will cost them 70,000 TRY. "The people in Ilisu are in despair. Even… http://www.banktrack.org/show/news/new_scandals_in_ilisu_project Tue, 01 Jun 2010 00:00:00 +0200 http://www.banktrack.org/show/news/deutsche_bank_announces_divestment_from_elbit ·         Deutsche Bank announces divestment from Israeli arms manufacturer Elbit Systems after campaign from German human rights organisations·         Elbit Systems supplies Israeli military and provides components for Apartheid Wall ruled illegal by International Court of Justice·         Deutsche Bank's divestment follows similar steps by banks and pension funds in three Scandinavian countries. Occupied Palestine - Germany's biggest bank Deutsche Bank has divested the… http://www.banktrack.org/show/news/deutsche_bank_announces_divestment_from_elbit Thu, 27 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_calls_on_banks_to_stop_funding_nuclear_power BankTrack, in cooperation with a number of working partners, today launches www.nuclearbanks.org, a new website mapping the involvement of 45 leading commercial banks in funding nuclear power projects and companies active in the nuclear sector. [1] BankTrack considers nuclear energy a grave danger for people and planet. The renewed interest in nuclear energy also poses a severe obstacle to achieving a sustainable solution to the climate crisis.[2] The website provides information on 867 transactions,… http://www.banktrack.org/show/news/banktrack_calls_on_banks_to_stop_funding_nuclear_power Wed, 26 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/the_kayapo_continue_blockades_of_amazon_highway_for_the_28th_straight_day_in_protest_of_the_belo_monte_dam A group of Kayapo indigenous people led by Chief Megaron Txukarramãe have been blockading the Xingu River crossing of the BR-80 - a major Amazon highway in Mato Grosso State - since April 23 in protest of the government's plans to build the massive Belo Monte Dam. Dozens of Kayapo warriors have been blocking the ferry crossing over the Xingu River for four weeks and are determined to remain there. Their actions have disrupted a major transportation artery for commercial goods in the region. In… http://www.banktrack.org/show/news/the_kayapo_continue_blockades_of_amazon_highway_for_the_28th_straight_day_in_protest_of_the_belo_monte_dam Fri, 21 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/investeringen_banken_meer_fossiel_dan_duurzaam Nederlandse banken investeren gemiddeld te veel in fossiele en te weinig in duurzame energie. Dat blijkt uit het vandaag gepubliceerde onderzoeksrapport ‘Investeringen in duurzame elektriciteitsopwekking door Nederlandse banken' van de Eerlijke Bankwijzer. Willem Verhaak van Milieudefensie, één van de bij de Eerlijke Bankwijzer aangesloten organisaties: "Wij roepen banken op om hun investeringen in de elektriciteitssector snel te verduurzamen. Dat kunnen ze echter niet alleen. Het nieuwe kabinet… http://www.banktrack.org/show/news/investeringen_banken_meer_fossiel_dan_duurzaam Wed, 19 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/overheid_maak_werk_van_maatschappelijk_verantwoord_bankwezen_ De financiële crisis heeft overduidelijk aangetoond tot welke financiële en maatschappelijke verliezen kortzichtig winstbejag leidt. De maatschappelijke rol van het bankwezen moet drastisch herzien worden. Netwerk Vlaanderen en Réseau Financement Alternatif sturen de federale politici vandaag 13 aanbevelingen ter realisatie van een maatschappelijk verantwoordelijk bankwezen. 1. Stop investeringen in maatschappelijk schadelijke activiteiten2. Houd spaargeld uit handen van speculanten en in de… http://www.banktrack.org/show/news/overheid_maak_werk_van_maatschappelijk_verantwoord_bankwezen_ Tue, 18 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/construction_of_ilisu_dam_restarted_austrian_andritz_the_only_european_company_to_remain_in_the_project The Austrian company Andritz AG will be the only European company to remain within the controversial Ilisu dam project on the Tigris River in south-eastern Turkey. Alstom (FR/CH) and Züblin (D/AUT), who were also supposed to be involved in the construction of the dam, have now finally pulled out of the project. This appears in a report from the Czech General Consulate in Turkey. According to the report, Andritz will take over the contracts of Alstom, Züblin's work will be carried out through Turkish… http://www.banktrack.org/show/news/construction_of_ilisu_dam_restarted_austrian_andritz_the_only_european_company_to_remain_in_the_project Tue, 18 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/rainforest_action_network_welcomes_jpmorgan_s_first_public_statement_on_controversial_mountaintop_removal_coal_mining Just one day before their Annual General Shareholder meeting, JPMorgan Chase released their 2009 Corporate Responsibility Report including its first public statement on financing for companies that practice mountaintop removal (MTR) coal mining. As laid out in the CR report, JPMorgan "has undertaken an enhanced review of all proposed banking transactions for companies engaged in MTR....includ[ing] considerations of a company's regulatory compliance history, as well as exposure to future regulatory… http://www.banktrack.org/show/news/rainforest_action_network_welcomes_jpmorgan_s_first_public_statement_on_controversial_mountaintop_removal_coal_mining Mon, 17 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/china_s_biggest_bank_to_support_africa_s_most_destructive_dam Ethiopia's Gibe 3 Dam is one of the most destructive hydropower projects being built today. If completed, it would destroy fragile ecosystems on which 500,000 poor indigenous people depend for their survival. A worldwide civil society campaign has held international financial institutions at bay for several years. Yesterday, however, the Industrial and Commercial Bank of China (ICBC) offered to step in with a $500 million loan. If the loan is confirmed, China's biggest bank will become responsible… http://www.banktrack.org/show/news/china_s_biggest_bank_to_support_africa_s_most_destructive_dam Thu, 13 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_card_largest_financers_of_mountaintop_removal_coal_mining A new report card issued by Rainforest Action Network, the Sierra Club and BankTrack ranks nine of the largest banks backing dangerous and devastating mountaintop removal (MTR) coal mining projects. Among the nine graded are Bank of America, Citi, Credit Suisse, Wells Fargo, JPMorgan Chase, Morgan Stanley, GE Capital, PNC and UBS. Failing grades went to PNC, JPMorgan Chase and UBS who came out as the lead financiers of companies practicing mountaintop removal coal mining. A copy of the report card… http://www.banktrack.org/show/news/new_report_card_largest_financers_of_mountaintop_removal_coal_mining Thu, 13 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/_clean_the_banks_campaigners_hopeful_for_vince_cable_backing_on_rbs_and_finance_sector_demands Vince Cable will oversee business and banking in the new UK government, which could signal good news for campaigners pushing for a clean-up of the financial sector. Campaign groups the World Development Movement, People & Planet and PLATFORM have been calling for a stop to reckless behaviour by the banks even before the financial crisis began. Recently they have organised high profile protests targeting the use of taxpayers' money by the Royal Bank of Scotland to finance high-impact oil and gas… http://www.banktrack.org/show/news/_clean_the_banks_campaigners_hopeful_for_vince_cable_backing_on_rbs_and_finance_sector_demands Wed, 12 May 2010 00:00:00 +0200 http://www.banktrack.org/show/news/los_bancos_puntuan_bajo_en_sostenibilidad_transparencia_y_responsabilidad La Red Internacional BankTrack, representada en España por la ONG SETEM, acaba de presentar su informe "Close the Gap" ("Cerrar la Brecha"), un extenso proyecto de investigación sobre las políticas gestión de activos de los principales bancos y entidades financieras[1] además de evaluar sus procedimientos de transparencia y responsabilidad.  El objetivo del informe es estimular a los bancos y a las entidades financieras para que desarrollen políticas sobre inversiones a nivel global y a que… http://www.banktrack.org/show/news/los_bancos_puntuan_bajo_en_sostenibilidad_transparencia_y_responsabilidad Wed, 28 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/ngos_sound_warning_over_one_of_year_s_largest_ipos The preliminary offering prospectus of Russian chemical fertiliser producer Uralchem glosses over several serious risks, says an international coalition of civil society organisations. Their research uncovers significant violation of environmental regulations by the company, which could lead the Russian Ministry of Natural Resources to force plant closures. The coalition addressed the IPO bookrunners (UBS, Morgan Stanley, and Renaissance Capital) with an open letter urging them only to support the… http://www.banktrack.org/show/news/ngos_sound_warning_over_one_of_year_s_largest_ipos Wed, 28 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_calls_upon_banks_to_close_the_gap_on_investment_policies BankTrack, the international NGO network monitoring the banking sector, today presents Close the Gap, an extensive research project on the quality of lending and investment policies of major international banks [1]. The results are available as a report and online website section. The aim of the research project was to evaluate to what extent banks have incorporated sustainability criteria into their lending and investment policies. To assess the quality of policies, BankTrack has evaluated the… http://www.banktrack.org/show/news/banktrack_calls_upon_banks_to_close_the_gap_on_investment_policies Tue, 27 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/akbank_announces_stronger_environmental_protection_in_reaction_to_ilisu_dam_controversy When presenting its first sustainability report Akbank's Chairwoman Akbank Sabancı Dinçer announced that in the future the bank would act more responsibly and take to assess more thoroughly if projects impact the rights of children, environment or ethical principles. As the Turkish daily Hurriyet reports on April 16, 2010 the sustainability report has brought „new inspiration" for the bank's management and led to a new understanding of investment and engagement. Suzan Sabancı Dinçer mentioned… http://www.banktrack.org/show/news/akbank_announces_stronger_environmental_protection_in_reaction_to_ilisu_dam_controversy Fri, 23 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/belo_monte_the_pressure_is_on The pressure is mounting against the controversial Belo Monte Dam on the Amazon's Xingu River. The past few weeks have been marked by massive protests, the entry of James Cameron and Sigourney Weaver into the campaign, legal battles and a worldwide media blitz. After three injunctions by a Federal Court judge to suspend the project's development were overturned by a politically-motivated superior court judge, the project was auctioned off to private investors on April 20. The winning consortium… http://www.banktrack.org/show/news/belo_monte_the_pressure_is_on Thu, 22 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/belo_monte_auction_goes_forward_after_court_overrules_second_injunction Today's bidding process for the controversial Belo Monte Dam project was marked by protests and confusion as a second injunction issued late yesterday suspended the dam auction overnight, throwing the bidding process into a state of chaos just minutes before it was set to begin.   Throughout Brazil, indigenous, environmental and social movements organized protests in more than nine cities in eight states. Internationally, phone calls begun pouring into Brazilian Embassies, condemning the government's… http://www.banktrack.org/show/news/belo_monte_auction_goes_forward_after_court_overrules_second_injunction Tue, 20 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/international_court_of_justice_rules_on_uruguayan_botnia_case With nearly a 4-year road block firmly in place on the Argentine Uruguayan border in protest over a World Bank (IFC-financed) Finnish pulp mill, the long-awaited International Court of Justice (ICJ) verdict came in today, clearly legitimizing local protests and indicating that ‘Uruguay violated international law' in the unilateral decision to allow the Finnish mega pulp mill Uy Metsa Botnia to go up on the border. "By thirteen votes to one, [the International Court of Justice finds], that the… http://www.banktrack.org/show/news/international_court_of_justice_rules_on_uruguayan_botnia_case Tue, 20 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/berne_declaration_reveals_swiss_banks_cooperate_with_human_rights_abusers Forced labour in Uzbekistan, forced displacement in Papua-New Guinea, toxic waste in Côte d'Ivoire: time and again, Credit Suisse und UBS are seen cooperating with companies accused of human rights abuses. The Berne Declaration (BD) urges Switzerland's largest banks to develop binding human rights standards and to make them accessible to the public.   The BD investigated the financial links between the two largest Swiss banks and companies embroiled in controversies about serious human rights… http://www.banktrack.org/show/news/berne_declaration_reveals_swiss_banks_cooperate_with_human_rights_abusers Thu, 15 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/belo_monte_dam_the_pressure_is_rising It's been a fabulous couple of weeks for the campaign to stop the massive Belo Monte Dam on the Amazon's Xingu River. Momentum is building - in public opinion, in the courts and in the legislature - so much so that a Federal Court yesterday suspended the project's development!  It all started last week when construction giants Odebrecht and Camarga Correa - no strangers to controversial dam projects - announced that they were not interested in building the project because it was not economically… http://www.banktrack.org/show/news/belo_monte_dam_the_pressure_is_rising Thu, 15 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/top_financial_institutions_invest_over_us_43_billion_in_producers_of_cluster_bombs Almost a year and a half after the historic signing of the Convention on Cluster Munitions (CCM) in Oslo in December 2008, 146 financial institutions from 15 countries around the world still provide over US$ 43 billion worth of investments and financial services to seven producers of cluster bombs. These are the updated findings of the most comprehensive report to date on global financial investments in these banned weapons,‘Worldwide investments in cluster munitions; A shared responsibility [1],… http://www.banktrack.org/show/news/top_financial_institutions_invest_over_us_43_billion_in_producers_of_cluster_bombs Wed, 14 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/jewelry_retail_giant_zale_corp_and_twelve_other_firms_pledge_to_protect_alaska_s_bristol_bay A wave of new jewelry retailers, including the nation’s 2nd largest jewelry retailer, Zale Corporation (NYSE: ZLC), pledged support today for permanently protecting Alaska's Bristol Bay watershed from large-scale metal mining, including the controversial proposed Pebble Mine. "The 1,850 Bristol Bay commercial fishing permit holders that we represent want to thank the jewelers who have vowed not to buy gold from the Pebble Mine," said Bob Waldrop, Bristol Bay Regional Seafood Development Association.… http://www.banktrack.org/show/news/jewelry_retail_giant_zale_corp_and_twelve_other_firms_pledge_to_protect_alaska_s_bristol_bay Tue, 13 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/laos_hydropower_project_deprives_villagers_of_water_food_income Back in November, I visited Navan Tai village on the Xe Bang Fai River in Laos. The morning sun shone down on a bustle of activity. The surface was scattered with small fishing boats as people cast nets into the sparkling waters. Women and children were bathing, while a couple of young boys showed off daring dives. Last month I returned, but the morning scene had completely changed. There were no fishing boats to be seen. The riverbank was underwater and nobody was bathing. Locals told me the water… http://www.banktrack.org/show/news/laos_hydropower_project_deprives_villagers_of_water_food_income Wed, 07 Apr 2010 00:00:00 +0200 http://www.banktrack.org/show/news/european_commission_draft_document_paves_way_for_oil_from_tar_sands_in_europe A new initiative allowing citizens across Europe to express concerns over oil industry investment in tar sands was launched today amid warnings that the European Commission is set to sabotage its own efforts to limit the climate change impacts of the fossil fuel industry. Drafts of the Fuel Quality Directive implementation plan [1] - the EU initiative aimed at reducing greenhouse gas emissions from fossil fuels seen by Friends of the Earth Europe suggest that the plan will not help to decarbonise… http://www.banktrack.org/show/news/european_commission_draft_document_paves_way_for_oil_from_tar_sands_in_europe Mon, 29 Mar 2010 00:00:00 +0200 http://www.banktrack.org/show/news/laos_nam_theun_2_dam_operation_illegal Laos' largest and most controversial hydropower project, Nam Theun 2, began full operation last week in violation of legal obligations to provide compensation and livelihood restoration to affected communities. In an attempt to avoid its obligations, the Nam Theun 2 Power Company (NTPC) called last week's commencement of power production "commercial export" of electricity rather than "commercial operation" which would require compliance with Concession Agreement provisions. Nam Theun 2 is being… http://www.banktrack.org/show/news/laos_nam_theun_2_dam_operation_illegal Tue, 23 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/uk_and_north_america_groups_slam_british_tar_sands_bank_opening_in_calgary Environmental and anti-poverty groups in the UK have reacted angrily to the Royal Bank of Scotland opening an ‘oil and gas advisory' office in Calgary. [1] RBS, which is 84% owned by the UK public has been the subject of controversy in the UK over its record of being the UK bank most heavily involved in financing fossil fuel projects and companies around the world.[2] Yesterday, a parliamentary transcript of the questioning was published showing that officials from the company created by the government… http://www.banktrack.org/show/news/uk_and_north_america_groups_slam_british_tar_sands_bank_opening_in_calgary Wed, 17 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/equator_principles_action_not_words_needed BankTrack, the international NGO network monitoring commercial bank operations, today welcomes the take over by Citi of the chair of the steering committee of the Equator Principles. We congratulate Mr. Shawn Miller for taking up this prestigious role on behalf of Citi. At the same time, BankTrack calls upon the new chair to no longer resort to empty slogans and hollow promises and to get to work on improving the performance of the Equator Principles on a number of urgent issues that, if left unsolved,… http://www.banktrack.org/show/news/equator_principles_action_not_words_needed Mon, 15 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/europe_wide_protests_against_turkish_banks Today, following the ‘International Day of Action Against Dams, for Rivers and Livelihoods', environmental and human rights activists are staging protests in nine European cities against loan commitments by two Turkish banks for the controversial Ilisu dam project. With vigils in front of Garantibank and Akbank offices and other rallies they demand the banks' immediate withdrawal from the controversial project in the Kurdish Southeast of Turkey. The construction of the Ilisu dam on the Tigris… http://www.banktrack.org/show/news/europe_wide_protests_against_turkish_banks Mon, 15 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/civil_society_organizations_demand_reform_of_world_bank_group_lending_to_private_corporations Today, nearly 100 civil society organizations from 38 countries are demanding that World Bank Group lending to private corporations be much more responsive to environmental and social concerns.  A letter submitted to the director of the International Finance Corporation (IFC), Lars Thunell, describes that IFC's lack of transparency and supervision, failure to recognize human rights, and inadequate climate change policies, undermine IFC's ability to achieve its poverty alleviation mission. [1] "IFC… http://www.banktrack.org/show/news/civil_society_organizations_demand_reform_of_world_bank_group_lending_to_private_corporations Thu, 11 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/suit_launched_to_challenge_federal_financing_of_foreign_fossil_fuel_project The Center for Biological Diversity, Pacific Environment, and Turtle Island Restoration Network have notified the U.S. Export Import Bank of their intent to sue the federal agency for financing a liquefied natural gas (LNG) project in Papua New Guinea without analyzing the project's environmental impacts. "If we are going to address global warming, the United States needs to stop funding new fossil fuel projects," said Miyoko Sakashita, oceans director at the Center for Biological Diversity. "Instead,… http://www.banktrack.org/show/news/suit_launched_to_challenge_federal_financing_of_foreign_fossil_fuel_project Thu, 11 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/suit_launched_to_challenge_federal_financing_of_foreign_fossil_fuel_project_1 The Center for Biological Diversity, Pacific Environment, and Turtle Island Restoration Network have notified the U.S. Export Import Bank of their intent to sue the federal agency for financing a liquefied natural gas (LNG) project in Papua New Guinea without analyzing the project's environmental impacts. "If we are going to address global warming, the United States needs to stop funding new fossil fuel projects," said Miyoko Sakashita, oceans director at the Center for Biological Diversity. "Instead,… http://www.banktrack.org/show/news/suit_launched_to_challenge_federal_financing_of_foreign_fossil_fuel_project_1 Thu, 11 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/uk_taxpayers_money_involved_in_financing_controversial_tar_sands_companies New report exposes RBS involvement in Canada's "blood oil" Bank executives meet in Toronto and discuss concerns about public backlash over involvement in tar sands Environmental and development groups announce a week of protest around the RBS AGM in April over the bank's tar sands investments It's been revealed that RBS has been involved in providing loans worth $7.5 billion in the last three years to companies carrying out highly controversial ‘tar sands' mining [1] in Canada. A coalition of… http://www.banktrack.org/show/news/uk_taxpayers_money_involved_in_financing_controversial_tar_sands_companies Mon, 01 Mar 2010 00:00:00 +0100 http://www.banktrack.org/show/news/australian_company_gunns_planned_restructure_vain_attempt_to_avoid_real_reform Gunns Ltd's proposed restructure of its company in response to its abysmal financial performance is a vain attempt to hide its native forest logging operations from scrutiny by potential pulp-mill investors, according to the Wilderness Society. Gunns, which today announced a 98% drop in profits for the first half of the financial year, plans to isolate its native-forest logging operations from the pulp mill proposal, plantations and other more acceptable parts of its operations such as wine-making… http://www.banktrack.org/show/news/australian_company_gunns_planned_restructure_vain_attempt_to_avoid_real_reform Mon, 22 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/help_us_to_stop_jpmorganchase_from_funding_mountaintop_removal_coal_mining Our member Rainforest Action Network is joining with thousands of friends and allies on the internet to send a message to JP Morgan Chase to stop financing mountaintop removal coal mining!  JP Morgan Chase is the biggest U.S. financier of mountaintop removal coal mining, the practice of blowing apart mountain peaks to access coal below the surface. Rainforest Action Network has repeatedly asked Chase to quit funding mountaintop removal. Chase has refused. In response, RAN has decided to PUT CHASE… http://www.banktrack.org/show/news/help_us_to_stop_jpmorganchase_from_funding_mountaintop_removal_coal_mining Thu, 18 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/28_countries_accused_of_facilitating_money_laundering_but_key_offenders_missing   An international financial crime watchdog has named and shamed countries that are failing to stop dirty money entering the financial system, a move welcomed by Global Witness. However, conspicuously absent are major financial centres and secrecy jurisdictions, many of which also have serious weaknesses in their anti-money laundering regulations. The Financial Action Task Force (FATF), the intergovernmental group that sets the global anti-money laundering standard, has issued a list of countries… http://www.banktrack.org/show/news/28_countries_accused_of_facilitating_money_laundering_but_key_offenders_missing Thu, 18 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/financial_crime_watchdog_s_chance_to_show_its_teeth Government officials meeting in Abu Dhabi next week will name and shame countries that are failing to crack down on financial crime. Those named may face political, as well as economic, pressure to strengthen their anti-money laundering laws. The list will be issued by the Financial Action Task Force (FATF), the intergovernmental group that sets the global anti-money laundering standard, after a request made by the G20 at its April 2009 summit in London.   The group will expose countries that have… http://www.banktrack.org/show/news/financial_crime_watchdog_s_chance_to_show_its_teeth Fri, 12 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/announcement_for_restart_of_ilisu_project_without_final_decision Yesterday's announcement by Turkish prime minister Erdogan, to restart construction of the Ilisu dam, does not come as a surprise to dam critics. "All along it has been clear that the missing financing will only delay the project. The decisive factor if 'Ilisu' will be built is if the public resistance in Turkey gets so strong that the government ultimately has to give in – and this resistance continues“, said Ulrich Eichelmann from the Stop Ilisu Campaign. Erdogan announced that the missing… http://www.banktrack.org/show/news/announcement_for_restart_of_ilisu_project_without_final_decision Fri, 12 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/new_legal_action_over_latest_rbs_bail_out *       Last November's £25 billion cash injection deemed 'unlawful' by campaigners *       Treasury's intervention in bankers' bonuses strengthens campaigners case Three pressure groups today served the Treasury with their application to the High Court, challenging last November's decision to provide a further £25 billion of public money to the Royal Bank of Scotland. According to the Treasury's guidance, when determining if and how public money is spent, an assessment of the likely impact… http://www.banktrack.org/show/news/new_legal_action_over_latest_rbs_bail_out Wed, 03 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/senate_shines_welcome_spotlight_on_u_s_facilitation_of_corruption A U.S senate subcommittee hearing this week will expose how foreign politicians have used the services of American lawyers, bankers, lobbyists and other professionals, to bring millions of suspect dollars into the country.   Tomorrow the Senate Permanent Subcommittee on Investigations will question representatives from the State Department, Immigration & Customs Enforcement (ICE), and Financial Crimes Enforcement Network (FinCEN), as well as lawyers, a realtor, and representatives of financial… http://www.banktrack.org/show/news/senate_shines_welcome_spotlight_on_u_s_facilitation_of_corruption Wed, 03 Feb 2010 00:00:00 +0100 http://www.banktrack.org/show/news/victoire_belene_bulgarie_ Les Amis de la Terre se félicitent du retrait complet de BNP Paribas dans le projet controversé de centrale nucléaire de Belene, en Bulgarie, en pleine zone sismique. Après avoir financé les études préliminaires et le début des travaux de la centrale, et avoir tenté de coordonner l’ensemble du financement, c’est la fin d’un combat qui opposait BNP Paribas aux Amis de la Terre depuis 2007. BNP Paribas doit en tirer les conclusions et refuser tout mandat, quel qu’il soit, dans ce… http://www.banktrack.org/show/news/victoire_belene_bulgarie_ Fri, 29 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/royal_bank_of_canada_wins_award_for_most_environmentally_irresponsible_company_at_davos It isn't often that Rainforest Action Network heads to Davos for the opening of the World Economic Forum (WEF). But that's just what our tar sands campaigner, Brant Olson, is doing. Why? Because as world leaders gather at Davos today to discuss the year's economic fortunes, one financial institution, the Royal Bank of Canada (RBC), will be singled out for their outstanding contributions to increasing climate change. In a ceremony held concurrently to the World Economic Forum, RBC was awarded the… http://www.banktrack.org/show/news/royal_bank_of_canada_wins_award_for_most_environmentally_irresponsible_company_at_davos Wed, 27 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/civil_society_groups_call_for_bold_steps_forward_with_equator_principles Close to a hundred civil society organisations from more than 25 countries* today sent an open letter to all banks and financial institutions that have adopted the Equator Principles**, calling on them to drastically reform their seven year old initiative. The letter, called Bold steps forward, towards Equator Principles that deliver to people and the planet', was coordinated by BankTrack, the international NGO network monitoring commercial banks. It was sent prior to a meeting which will take place… http://www.banktrack.org/show/news/civil_society_groups_call_for_bold_steps_forward_with_equator_principles Thu, 14 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/santander_deixa_projeto_de_usina_no_rio_madeira O banco Santander vendeu para o Fundo de Investimento do Fundo de Garantia do Tempo de Serviço (FI FGTS) os 5% do total das cotas que ainda detinha na sociedade dona da concessionária Santo Antônio Energia, que constrói a usina hidrelétrica de mesmo nome no rio Madeira.  O fundo administrado pela Caixa Econômica Federal (CEF) passa agora a ser dono de 10% do projeto e se compromete assim a investir R$ 1,3 bilhão na usina, 25% com capital próprio e o restante garantindo financiamentos. O… http://www.banktrack.org/show/news/santander_deixa_projeto_de_usina_no_rio_madeira Thu, 14 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/entidade_entra_com_peticao_para_esclarecer_os_impactos_da_usina_do_rio_madeira O Instituto Madeira Vivo (IMV), uma organização de Rondônia que atua em defesa do rio Madeira, entrou recentemente com uma petição para prestar esclarecimentos sobre a usina hidrelétrica de Santo Antônio, no rio Madeira. Trata-se de uma petição chamada Amicus Curiae, ou Amigo da Corte, na tradução do latim.  Ela é uma figura jurídica surgida na tradição anglo-saxã, e que recentemente tem sido aceita na jurisdição brasileira. A petição, que foi oficialmente entregue no dia 15… http://www.banktrack.org/show/news/entidade_entra_com_peticao_para_esclarecer_os_impactos_da_usina_do_rio_madeira Mon, 11 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/swedish_bank_nordea_backs_away_from_gunns_pulp_mill For the first time, Nordea bank announced today that it would not finance the Gunns’ pulp mill in Australia if its widely publicised environmental impacts were not curbed. The announcement, made by Nordea via Twitter, came in response to a two-day blitz of public pressure. The campaign kicked off with an action from global campaign network Avaaz.org, and triggered engagement from thousands of Scandinavian citizens including many Nordea customers and shareholders. “Avaaz.org members across Scandinavia… http://www.banktrack.org/show/news/swedish_bank_nordea_backs_away_from_gunns_pulp_mill Thu, 07 Jan 2010 00:00:00 +0100 http://www.banktrack.org/show/news/expedicao_confirma_presenca_de_indios_isolados_perto_de_hidreletrica_em_ro Altino Machado Uma expedição que percorreu a Estação Ecológica Mujica Nava, em Porto Velho (RO), constatou vestígios da presença de índios isolados numa faixa entre 10 e 30 quilômetros do canteiro de obras da usina hidrelétrica de Jirau. Realizada entre os dias 26 de novembro e 10 de dezembro, a expedição também encontrou dois garimpeiros que avistaram oito indígenas na margem da estrada de um garimpo.  Os depoimentos deles foram gravados em áudio e vídeo. Os garimpeiros transitavam… http://www.banktrack.org/show/news/expedicao_confirma_presenca_de_indios_isolados_perto_de_hidreletrica_em_ro Wed, 23 Dec 2009 00:00:00 +0100 http://www.banktrack.org/show/news/sequencia_de_fotos_evidencia_dano_ambiental_causado_por_usinas_do_rio_madeira   As fotos foram apresentadas ontem à CPI das usinas do Madeira, na Assembleia Legislativa de Rondônia Bruno Calixto     Uma apresentação feita pela Associação de Defesa Etno-Ambiental Kanindé à Comissão Parlamentar de Inquérito (CPI) da Assembleia Legislativa de Rondônia, criada para investigar as obras das usinas do rio Madeira (RO), impressionou os deputados estaduais.  As fotos mostram o estrago que a usina de Jirau vem causando ao meio ambiente. As imagens foram apresentadas… http://www.banktrack.org/show/news/sequencia_de_fotos_evidencia_dano_ambiental_causado_por_usinas_do_rio_madeira Wed, 16 Dec 2009 00:00:00 +0100 http://www.banktrack.org/show/news/banktrack_calls_upon_banks_to_help_fight_runaway_climate_change International banks are not doing enough to help combat runaway climate change. They should commit to fundamental changes in their lending and investment practices so that their business activities contribute to solving the climate crisis, rather than further aggravating it. A failure to do so may lead to the serious reputational risk of being branded as co-responsible for climate destruction. This is the key message of a new position paper of BankTrack, ‘A Challenging Climate 2.0; what banks… http://www.banktrack.org/show/news/banktrack_calls_upon_banks_to_help_fight_runaway_climate_change Thu, 10 Dec 2009 00:00:00 +0100 http://www.banktrack.org/show/news/theun_hinboun_hydropower_plant_expansion_progresses Theun-Hinboun Power Company Limited (THPC) started diverting the Nam Ngouang River yesterday to block the waterway for dam construction in Borikhamxay province. The diversion will direct water through a tunnel before it re-connects about 300 metres further on in Thasala village, Khamkeuth district. The diversion is part of construction work for the Theun Hinboun Expansion Project in Khammuan province and marks a new stage in the project. The Theun-Hinboun hydropower plant and its expansion are located… http://www.banktrack.org/show/news/theun_hinboun_hydropower_plant_expansion_progresses Tue, 08 Dec 2009 00:00:00 +0100 http://www.banktrack.org/show/news/ex_im_bank_undermines_u_s_credibility_at_copenhagen_with_3_billion_in_financing_for_exxonmobil As global climate talks begin in Copenhagen, the U.S. Export-Import Bank (Ex-Im Bank) is undermining U.S Government goals by announcing its approval for a record-breaking three billion dollars in financing to the ExxonMobil-led Papua New Guinea Liquid Natural Gas project (PNG LNG).[1] [2] The PNG LNG project will emit vast amounts of lifecycle greenhouse gases, slash a pipeline through globally significant primary tropical forests, spew toxic pollutants, and foster an increase in violence in project… http://www.banktrack.org/show/news/ex_im_bank_undermines_u_s_credibility_at_copenhagen_with_3_billion_in_financing_for_exxonmobil Mon, 07 Dec 2009 00:00:00 +0100 http://www.banktrack.org/show/news/banks_must_prove_they_give_a_dam Given the role banks played in the global financial crisis, it is reasonable to expect they would understand the need to demonstrate their ethics with transparency. No longer is it reasonable to assume shareholders and customers will simply accept a "trust us, we have good policies" response. But this is exactly the response of ANZ when it comes to the Theun-Hinboun Expansion Project - a dam and diversion project under construction in central Laos. This huge project is a hydro-electric scheme, with… http://www.banktrack.org/show/news/banks_must_prove_they_give_a_dam Fri, 27 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/_quot_sustainable_finance_quot_undermines_food_security_of_lao_communities The Theun-Hinboun Expansion Project - a dam and water diversion project now under construction in Central Laos - poses a threat to the livelihoods and food security of local communities living in the project area. The project also violates Lao national law and the Equator Principles, according to ‘Expanding Failure', a new report and video released today by International Rivers; BankTrack, FIVAS, Les Amis de la Terre; and Justice and International Mission Unit, Uniting Church in Australia. The… http://www.banktrack.org/show/news/_quot_sustainable_finance_quot_undermines_food_security_of_lao_communities Tue, 17 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/secret_documents_reveal_multi_million_dollar_shopping_spree_by_african_dictator_s_son Confidential U.S. government documents uncovered by campaign group Global Witness and reported on in today's New York Times, strongly suggest that Teodorin Obiang, son of the dictator of oil-rich Equatorial Guinea, purchased a $33 million private jet, a $35 million Malibu mansion, speedboats and a fleet of fast cars using corruptly acquired funds. A new Global Witness report, ‘The Secret Life of a Shopaholic', explains how, despite the ample evidence against him, the investigation is going nowhere… http://www.banktrack.org/show/news/secret_documents_reveal_multi_million_dollar_shopping_spree_by_african_dictator_s_son Tue, 17 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/indigenous_canadians_deliver_message_to_rbs_and_the_treasury_stop_funding_bloody_oil_ Three Indigenous Canadian women will visit the Royal Bank of Scotland (RBS) London headquarters tomorrow to demand that they stop financing one of the world's most polluting projects - the Tar Sands. This highly destructive form of oil extraction is having a devastating effect on the health of Indigenous communities and fuelling global climate change. They will be joined outside RBS by student activists who will stage a ‘die-in' on the ground, to demonstrate that ‘Tar Sands oil is blood oil'.… http://www.banktrack.org/show/news/indigenous_canadians_deliver_message_to_rbs_and_the_treasury_stop_funding_bloody_oil_ Mon, 16 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/ma_tvangsflytte_4000_urfolk http://www.banktrack.org/show/news/ma_tvangsflytte_4000_urfolk Fri, 13 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/ilisu_construction_restarted_without_permission Construction work has restarted on the controversial Ilisu Dam in Turkey, despite the project lacking the appropriate permits. Work on the project had been stopped following the withdrawal of financial support by the export credit agencies (ECAs) of Switzerland, Austria and Germany earlier this year. The ECAs withdrew after Turkey failed to honour commitments to bring the project up to international standards.  The Initiative to Keep Hasankeyf Alive, a regional coalition opposed to the project,… http://www.banktrack.org/show/news/ilisu_construction_restarted_without_permission Fri, 13 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/eni_s_new_energy_projects_threaten_congo_rainforest Plans by oil company Eni to develop tar sands and oil palm in the Congo Basin risk irreversible damage to biodiversity, local communities and our climate, and break the company´s own guidelines, according to Congolese human rights organisations and their international partners. In a report published today, Energy Futures? Eni´s Investments in tar sands and palm oil in the Congo Basin, the groups argue that given their potential for local harm and their huge carbon footprint, such investments should… http://www.banktrack.org/show/news/eni_s_new_energy_projects_threaten_congo_rainforest Mon, 09 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/rio_madeira_comissao_interamericana_de_direitos_humanos_da_oea_recebeu_denuncia_contra_as_hidreletricas_santo_antonio_e_jirau “Ao contrariar frontalmente as aspirações e os direitos das comunidades afetadas e dos povos indígenas da Amazônia, das organizações ambientalistas e dos movimentos sociais, o Complexo Hidrelétrico do rio Madeira está criando um sério precedente que abrirá as portas para outros grandes projetos estruturantes na América do Sul que poderão exaurir os recursos naturais necessários à sobrevivência dos povos amazônicos”. “Para manter a riqueza desse patrimônio biológico e das… http://www.banktrack.org/show/news/rio_madeira_comissao_interamericana_de_direitos_humanos_da_oea_recebeu_denuncia_contra_as_hidreletricas_santo_antonio_e_jirau Mon, 09 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/china_needs_to_address_environmental_challenge_in_africa On November 8/9, China's and Africa's governments will meet for the 4th summit of the Forum on China-Africa Cooperation (FOCAC) in Sharm-el-Sheik, Egypt. A report published by International Rivers finds that China and Africa have been successful in boosting their financial and economic cooperation, but have failed to deal seriously with the environmental challenges that have resulted from their growing cooperation. The report, China, Africa and the Environment, concludes that the Chinese government… http://www.banktrack.org/show/news/china_needs_to_address_environmental_challenge_in_africa Fri, 06 Nov 2009 00:00:00 +0100 http://www.banktrack.org/show/news/top_financial_institutions_still_invest_us_20_billion_in_cluster_bombs Almost one year on from the historic signing of the Convention on Cluster Munitions in Oslo in December 2008, 138 financial institutions still provide over US$ 20 billion worth of investments and financial services to eight producers of cluster bombs. These are the findings of the most comprehensive report to date on global financial investments in these banned weapons, ‘Worldwide investments in cluster munitions; A shared responsibility'. The report authors are calling public and private financial… http://www.banktrack.org/show/news/top_financial_institutions_still_invest_us_20_billion_in_cluster_bombs Thu, 29 Oct 2009 00:00:00 +0100 http://www.banktrack.org/show/news/victoire_pinocchio_le_credit_agricole_revend_ses_titres_dongfeng Les Amis de la Terre se félicitent de la vente des actions de la compagnie chinoise Dongfeng par le Crédit Agricole, qui est nominé aux prix Pinocchio 2009. Dongfeng est impliquée dans la vente de 900 camions militaires à la junte birmane en 2008, et a été à ce titre blacklistée par le fonds de pension du gouvernement norvégien. Le désinvestissement du Crédit Agricole reste toutefois partiel, le Crédit Agricole détenant toujours d’autres titres Dongfeng pour compte propre. Les Amis… http://www.banktrack.org/show/news/victoire_pinocchio_le_credit_agricole_revend_ses_titres_dongfeng Thu, 29 Oct 2009 00:00:00 +0100 http://www.banktrack.org/show/news/german_energy_giant_rwe_withdraws_from_bulgarian_nuclear_power_plant In a letter to the Bulgarian Energy holding, the German company RWE today announced its withdrawal from the controversial Belene nuclear power plant (NPP) in northern Bulgaria. RWE cites doubts about the project's profitability as the major reason for the company's retreat. "For the past 18 months, we've been pointing out to RWE that Belene is a high-risk project in terms of safety, economics, environment and corruption," says Heffa Schücking from the German environment NGO Urgewald. "It sure took… http://www.banktrack.org/show/news/german_energy_giant_rwe_withdraws_from_bulgarian_nuclear_power_plant Wed, 28 Oct 2009 00:00:00 +0100 http://www.banktrack.org/show/news/115_civil_society_groups_urge_china_to_suspend_disastrous_pipelines_in_burma 115 civil society organizations and political parties from 20 countries today submitted an open letter to China's President Hu Jintao calling for the suspension of oil and gas pipelines through Burma in order to prevent rights abuses and regional instability, avoiding financial and image risks to China.  Petitions were submitted by the Shwe Gas Movement and its solidarity networks at Chinese Embassies in Thailand, India, Japan, South Korea, the Philippines, Malaysia, Australia, Sweden, Norway,… http://www.banktrack.org/show/news/115_civil_society_groups_urge_china_to_suspend_disastrous_pipelines_in_burma Wed, 28 Oct 2009 00:00:00 +0100 http://www.banktrack.org/show/news/high_court_decision_treasury_can_ignore_climate_change_and_human_rights A High Court judge today blocked a request for permission to hold a Judicial Review over what campaigners say is the Treasury's lack of adequate environmental and human rights consideration of Royal Bank of Scotland's investments. Campaigners from the World Development Movement, PLATFORM and People & Planet, who brought the case against the Treasury expressed ‘disappointment' at the ruling and have decided to appeal this decision. Deborah Doane, the director of the World Development Movement said,… http://www.banktrack.org/show/news/high_court_decision_treasury_can_ignore_climate_change_and_human_rights Wed, 21 Oct 2009 00:00:00 +0200 http://www.banktrack.org/show/news/unprecedented_legal_battle_over_rbs_unethical_investments Today, an unprecedented legal battle will take place in the High Court over the Treasury's failure to stop the publicly owned Royal Bank of Scotland (RBS) investing in what campaigners describe as 'some of the most environmentally damaging and socially irresponsible projects and companies around. The case is being brought by three small climate and social justice campaigning groups: PLATFORM, People & Planet and the World Development Movement, which has led some commentators to bill it as a 'ground… http://www.banktrack.org/show/news/unprecedented_legal_battle_over_rbs_unethical_investments Tue, 20 Oct 2009 00:00:00 +0200 http://www.banktrack.org/show/news/sakhalin_ii_has_pumped_oil_and_gas_for_one_year_without_proper_approval_for_the_main_pipelines Sakhalin Environment Watch sent a letter to the Sakhalin Region branches of the Russian Technical Oversight Agency Rostekhnadzor) and Federal Service for the Supervision of Natural Resource Use (Rosprirodnadzor) with a request to not to use the main Sakhalin-II pipelines. This request came after public inspections once more revealed violations that increase the risk of oil spills. Sakhalin Environment Watch and experts from the Far Eastern Branch of the Russian Academy of Sciences Far East Geological… http://www.banktrack.org/show/news/sakhalin_ii_has_pumped_oil_and_gas_for_one_year_without_proper_approval_for_the_main_pipelines Tue, 20 Oct 2009 00:00:00 +0200 http://www.banktrack.org/show/news/epr_les_banques_francaises_portent_bout_de_bras_un_fiasco_industriel EPR : Les banques françaises portent à bout de bras un fiasco industriel Nos campagnes  > Responsabilité des acteurs financiers  > Finance et Energie - climat  > Projets controversés  > Nucléaire  > EPR  16 octobre 2009, Par Yann Louvel Malgré les dernières révélations intervenues ce jeudi au sujet de l’EPR finlandais, les banques françaises s’obstinent à vouloir financer un projet d’EPR en Inde, nous enfermant toujours un peu plus dans la fuite en avant nucléaire. Alors… http://www.banktrack.org/show/news/epr_les_banques_francaises_portent_bout_de_bras_un_fiasco_industriel Fri, 16 Oct 2009 00:00:00 +0200 http://www.banktrack.org/show/news/g20_takes_welcome_step_to_stop_banks_fuelling_corruption The G20 has urged an international watchdog on anti-money laundering laws to prioritise the fight against corrupt funds, a move warmly welcomed by anti-corruption group Global Witness today. Anti-money laundering laws, which should prevent banks accepting illegally-earned funds, are the key defence against the movement of state funds that have been looted by corrupt government officials. So they are vital in tackling poverty in developing countries. The inter-governmental body that sets the standard… http://www.banktrack.org/show/news/g20_takes_welcome_step_to_stop_banks_fuelling_corruption Mon, 28 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/report_warns_of_dangers_in_carbon_markets As world leaders gather for the G20 economic summit in Pittsburgh this week, Friends of the Earth U.S. released a report warning that the carbon trading system envisioned by the United States is complex, volatile and prone to gaming. The report, 'Simpler, Smaller and More Stable' finds that current proposals to regulate derivatives are necessary, but far from sufficient to ensure the environmental and financial integrity of these new markets.  However, in its draft paper on carbon markets and private… http://www.banktrack.org/show/news/report_warns_of_dangers_in_carbon_markets Tue, 22 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/poll_finds_bristol_bay_residents_favor_subsistence_over_pebble_mine A new poll released today finds an overwhelming majority of Bristol Bay residents strongly prefer their subsistence lifestyle to the promise of jobs at the proposed Pebble Mine. The poll, which is the most in-depth survey of local Alaska Natives’ opinion on the Pebble Mine, found that 79 percent of respondents believe the mine, located in the headwaters of two of the region’s largest salmon-spawning rivers, would damage Bristol Bay’s wild salmon fishery – a key resource that many residents… http://www.banktrack.org/show/news/poll_finds_bristol_bay_residents_favor_subsistence_over_pebble_mine Tue, 22 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/last_call_for_the_meaniest_companies_of_the_year If you hadn't time yet to propose this year's worst corporations and green washer, do it now. Due to many requests we moved the deadline for submissions to 24 September. So take this last chance to tip us off - and maybe we'll meet in Davos. Dear Colleagues It's that time of the year again: Berne Declaration and Greenpeace Switzerland are looking for companies whose social or ecological comportment stinks to high heaven. And we need you to tip us off about instances of workplace exploitation, environmental… http://www.banktrack.org/show/news/last_call_for_the_meaniest_companies_of_the_year Mon, 21 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/rondonia_mte_descobre_trabalhadores_em_regime_de_escravidao_em_obra_de_jirau A fiscalização constatou que a arregimentação ocorreu de forma irregular e que a empresa mantinha os obreiros alojados em condições degradanteEm ação conjunta do Ministério Público do Trabalho (MPT) e Ministério do Trabalho e Emprego (MTE) em Rondônia, com apoio da Polícia Federal (PF), 38 pessoas arregimentadas no Estado do Maranhão (em Parnarama) para trabalharem para a Construtora BS, em Jacy Paraná foram resgatadas e tiveram seus contratos de trabalho rescindidos indiretamente.A… http://www.banktrack.org/show/news/rondonia_mte_descobre_trabalhadores_em_regime_de_escravidao_em_obra_de_jirau Sat, 12 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/ribeirinhos_dizem_que_peixes_estao_desaparecendo_do_rio_madeira_por_conta_da_construcao_das_usinas Membros da comunidade ribeirinha que vivem as margens do rio Madeira, entre as construções das Usinas de Santo Antônio e Jirau, em contato com a reportagem do Rondoniaovivo.com disseram que peixes tradicionais do rio Madeira, como Mandi, Pacu e Bico de Pato estão desaparecendo e prejudicando o modo de vida daquela comunidade. O pescador Álvaro Pires Pinto, que não quis ter sua imagem divulgada, com medo de represálias, informou aos repórteres do Rondoniaovivo.com que pesca há muito tempo… http://www.banktrack.org/show/news/ribeirinhos_dizem_que_peixes_estao_desaparecendo_do_rio_madeira_por_conta_da_construcao_das_usinas Thu, 10 Sep 2009 00:00:00 +0200 http://www.banktrack.org/show/news/malaria_aumenta_63_em_distrito_de_porto_velho_por_causa_de_construcao_de_usinas A construção da Usina Hidrelétrica de Jirau, no Rio Madeira (RO), fez com que o número de casos de malária no distrito de Jaci-Paraná aumentasse 63,6%. De acordo com o Departamento de Vigilância Epidemiológica e Ambiental de Porto Velho, de janeiro a julho de 2008 foram registrados 931 casos de malária na localidade e, no mesmo período deste ano, o número subiu para 1.524. Segundo a diretora do departamento, Rute Bessa, os números podem ser explicados pelo aumento da população do distrito,… http://www.banktrack.org/show/news/malaria_aumenta_63_em_distrito_de_porto_velho_por_causa_de_construcao_de_usinas Sat, 15 Aug 2009 00:00:00 +0200 http://www.banktrack.org/show/news/funcef_e_petros_cobicam_10_da_camargo_em_jirau Cláudia Schuffner e Ivo Ribeiro Os fundos de pensão dos funcionários da Petrobras e da Caixa Econômica Federal (CEF) fazem uma nova ofensiva para participar dos projetos hidrelétricos do Rio Madeira, em Rondônia.  Petros e Funcef, depois de uma tentativa frustrada de entrar no grupo controlador da usina Santo Antônio, agora estão avaliando a compra dos 9,99% do grupo Camargo Corrêa na hidrelétrica de Jirau. O grupo construtor e industrial paulista está presente no empreendimento por… http://www.banktrack.org/show/news/funcef_e_petros_cobicam_10_da_camargo_em_jirau Mon, 10 Aug 2009 00:00:00 +0200 http://www.banktrack.org/show/news/chinese_ngos_announce_the_second_green_banking_innovation_award On behalf of nine Chinese environmental NGOs, Ms. Jin Jiaman, Director of Global Environmental Institute, announced the Green Banking Innovation Award on August 1st. China Industrial Bank Co. Ltd. received Green Banking Innovation Award for the second time at the Best China Banks Ceremony organized by the Economic Observer weekly. This award was nominated and voted by nine renowned NGOs: Green Watershed, Friends of Nature, Institute of Public & Environmental Affairs, Green Earth Volunteer, Global… http://www.banktrack.org/show/news/chinese_ngos_announce_the_second_green_banking_innovation_award Sat, 01 Aug 2009 00:00:00 +0200 http://www.banktrack.org/show/news/_1 8月1日下午，在《经济观察报》举办的2008年度中国最佳银行评选颁奖仪式上，全球环境研究所负责人金嘉满代表绿色流域、自然之友、公众与环境研究中心、绿家园、全球环境研究所、守望家园、中国发展简报、重庆市绿色志愿者联合会、横断山研究会等九家民间环保团体宣布2008年度绿色银行创新奖评选结果。兴业银行再次脱颖而出，第二次获得 "绿色银行创新奖"。商道纵横咨询公司作为企业社会责任专业咨询服务机构为此次评选提供了技术支持。… http://www.banktrack.org/show/news/_1 Sat, 01 Aug 2009 00:00:00 +0200 http://www.banktrack.org/show/news/unlikely_appeal_to_rbc_first_lady_mrs_janet_nixon_highlights_bank_s_involvement_in_tar_sands A weeklong buzz around mysterious "please help us Mrs. Nixon" posters in downtown Toronto culminated today at the Royal Bank of Canada's (RBC) headquarters, where Rainforest Action Network (RAN) dropped a 15' x 30' banner appealing to Janet Nixon, the wife of CEO Gordon Nixon. Protestors scaled the 50' flagpole at the main entrance to the RBC headquarters on Bay and Wellington, replacing the flags with the 15' banner, which hung for 2.5 hours as employees, including Gordon Nixon, arrived for work… http://www.banktrack.org/show/news/unlikely_appeal_to_rbc_first_lady_mrs_janet_nixon_highlights_bank_s_involvement_in_tar_sands Tue, 28 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/european_banks_withdraw_from_ilisu_dam_project_in_turkey BankTrack and its member organisations welcome yesterdays' decision of three leading European banks - Société Générale, UniCredit/Bank Austria and DekaBank - to withdraw from the highly contested Ilisu dam project in Turkey. With this unprecedented step the banks responded to the withdrawal of cover by the German, Austrian and Swiss export credit guarantees on July 7th. In a joint press release issued on July 8, the banks stated that: "In line with the decision of the Export Credit Agencies,… http://www.banktrack.org/show/news/european_banks_withdraw_from_ilisu_dam_project_in_turkey Fri, 10 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/victoire_historique_la_societe_generale_se_retire_d_ilisu_ La Société Générale a annoncé officiellement son retrait du projet controversé de barrage d’Ilisu en Turquie. Les Amis de la Terre se félicitent de ce retrait demandé depuis 2007 : la Turquie violait systématiquement ses obligations dans le projet en laissant entiers les problèmes environnementaux, sociaux, culturels et politiques qu’il posait. La Société Générale doit désormais en tirer les conséquences et adopter dans les plus brefs délais des politiques sectorielles exigeantes… http://www.banktrack.org/show/news/victoire_historique_la_societe_generale_se_retire_d_ilisu_ Thu, 09 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/ilisu_dam_project_european_governments_officially_announce_withdrawal The governments of Germany, Austria and Switzerland today officially announced their withdrawal from the Ilisu project on the Tigris river in Turkey. Turkey's efforts to build the controversial dam have thus failed for the second time. Environmental and human rights organisations have welcomed the decision as a breakthrough in their campaign to stop the project and to push for higher standards for export guarantees. "The withdrawal of the guarantees is a huge success for all groups who have been… http://www.banktrack.org/show/news/ilisu_dam_project_european_governments_officially_announce_withdrawal Tue, 07 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/austria_s_eca_officially_declares_pull_out_of_ilisu_dam_project Finally it is official: Rudolf Scholten, the head of the Austrian export credit agency Oesterreichische Kontrollbank (OeKB), declared this evening that the OeKB will disengage from the Ilisu dam project in eastern Turkey. Never before has a contract with an export credit agency been cancelled for social, cultural or ecological reasons. "This is one of the biggest successes by NGOs in Europe in recent years, and marks an important victory on the path to the final end of the Ilisu project", said Ulrich… http://www.banktrack.org/show/news/austria_s_eca_officially_declares_pull_out_of_ilisu_dam_project Mon, 06 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/belgium_bans_investments_in_depleted_uranium_weapons Yesterday the Belgian Parliament unanimously approved a law forbidding investments in depleted uranium weapons. Belgium is now the first country to prevent the flow of money to producers of uranium weapons. This law complements the country's ban on their manufacture, testing, use, sale and stockpiling which came into force on June 21st last. The use of depleted uranium armour piercing munitions during combat causes the release of chemically toxic and radioactive particles which represent a long… http://www.banktrack.org/show/news/belgium_bans_investments_in_depleted_uranium_weapons Fri, 03 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/shifting_sands_how_a_changing_economy_could_bury_the_tar_sands_industry PLATFORM, Greenpeace and Oil Change International released a report pointing to a series of trends emerging from the growth forecasts of OPEC, the IEA and the EIA as evidence that the oil market could be undergoing a permanent structural shift.The authors assert that previous oil demand growth forecasts have seriously underestimated the potential impacts of government policies aimed at securing energy supplies, reducing price volatility and tackling climate change. This ‘triple crunch’ of political… http://www.banktrack.org/show/news/shifting_sands_how_a_changing_economy_could_bury_the_tar_sands_industry Wed, 01 Jul 2009 00:00:00 +0200 http://www.banktrack.org/show/news/uk_government_faces_environmental_legal_challenge_over_rbs The World Development Movement, PLATFORM and People & Planet have today launched legal action against the Treasury for allowing public money, poured into the Royal Bank of Scotland to be invested in energy companies, and projects linked to climate change and human rights violations. Since RBS was bailed out in October 2008, it has contributed to loans worth an estimated £10 billion in coal, oil and gas companies. Coal is the biggest source of carbon emissions globally, which contributes to dangerous… http://www.banktrack.org/show/news/uk_government_faces_environmental_legal_challenge_over_rbs Tue, 30 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_members_unveil_bank_secrets Campagna per la Riforma della Banca Mundiale (Italy), Friends of the Earth (France), Netwerk Vlaanderen (Belgium), Platform (UK), SETEM (Spain) and Urgewald (Germany) expose investments in harmful practices and companies of thirteen large European banks in this new website.  Despite of the banking crisis, financial institutions continue to do harmful investments in a sphere of secrecy. To expose banks´ secrets, activists ‘undressed the banks' by staging parallel theatrical activities in the… http://www.banktrack.org/show/news/banktrack_members_unveil_bank_secrets Thu, 25 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/germany_austria_and_switzerland_backing_out_of_ilisu_dam_project_in_turkey Germany, Austria and Switzerland will withdraw their export credit guarantees for the highly controversial Ilisu dam project in Turkey by July 6th, as the German daily Frankfurter Rundschau Online reported on Friday. This is an unprecedented step in the history of export finance. Environmental and human rights organisations had repeatedly pointed out that Turkey violated conditions tied to the guarantees and the environmental, social, cultural and geopolitical problems remained unsolved. "We greatly… http://www.banktrack.org/show/news/germany_austria_and_switzerland_backing_out_of_ilisu_dam_project_in_turkey Mon, 22 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/santander_e_alvo_de_campanha_internacional_contra_impactos_ao_meio_ambiente Nesta sexta-feira (19), a organização da sociedade civil espanhola Setem fez uma intervenção na assembléia de acionistas do Banco Santander para pedir que o banco cumpra compromissos socioambientais feitos em 2008. O manifesto acontece após um ano de realizada a ação “Não com o meu dinheiro”, quando a entidade conversou com o presidente do Santander, Emílio Botín, e os acionistas do banco para pressioná-los a não investir no Complexo de usinas do rio Madeira (RO).  Na ocasião,… http://www.banktrack.org/show/news/santander_e_alvo_de_campanha_internacional_contra_impactos_ao_meio_ambiente Fri, 19 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/ilisu_dam_affected_people_expropriated_amidst_ultimatum The Stop Ilisu Campaign learned today that the Government of Turkey continues to expropriate people near the Ilisu Dam Site on the Tigris River. This is a clear breach of the export conditions from Austria, Germany and Switzerland. On May 6, courts in Turkey have withdrawn the land rights of 30 families near Hasankeyf, and have paid them a meagre compensation in return. This proves yet again that the Government of Turkey is not in a position, or not inclined, to fulfil international standards for… http://www.banktrack.org/show/news/ilisu_dam_affected_people_expropriated_amidst_ultimatum Tue, 09 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/nomination_deutsche_bank_makes_mockery_of_sustainable_banking_awards Today, the Financial Times and IFC, a member of the World Bank group, will announce the winners of the 2009 FT Sustainable Banking Awards. This year, Deutsche Bank is on the five bank shortlist for the category „Sustainable Bank of the Year". „Already the application of Deutsche Bank for this award is a scandal. The awards were created to recognise banks that have shown leadership and innovation in integrating social and environmental considerations into their operations.  Deutsche Bank is… http://www.banktrack.org/show/news/nomination_deutsche_bank_makes_mockery_of_sustainable_banking_awards Thu, 04 Jun 2009 00:00:00 +0200 http://www.banktrack.org/show/news/deutsche_bank_wm_titel_unerreichbar Zur Hauptversammlung am 26. Mai erhält die Deutsche Bank weit gereisten Besuch: Almoustapha Alhacen, stellvertretender Bürgermeister der nigrischen Stadt Arlit und langjähriger Areva-Mitarbeiter nutzt die Gelegenheit, um Deutsche Bank-Vorstandschef Ackermann persönlich mit den negativen Konsequenzen des Uranabbaus in seiner Heimat zu konfrontieren. Er fordert bessere Sicherheitsstandards für die radioaktiven Abfälle und eine unabhängige Untersuchung der Umweltauswirkungen des Uranabbaus.… http://www.banktrack.org/show/news/deutsche_bank_wm_titel_unerreichbar Tue, 26 May 2009 00:00:00 +0200 http://www.banktrack.org/show/news/leading_banks_facilitating_corruption_fuelling_poverty Some of the world's major banks, including Barclays and Citibank, have been facilitating corruption and undermining development in some of the worst-governed countries in the world, campaigning organisation Global Witness will testify to the U.S. House of Representatives' Financial Services Committee today (May 19). Global Witness lead investigator, Anthea Lawson, will tell Committee members, including Chairman Barney Frank, that a catalogue of failures in the design and enforcement of anti-money… http://www.banktrack.org/show/news/leading_banks_facilitating_corruption_fuelling_poverty Tue, 19 May 2009 00:00:00 +0200 http://www.banktrack.org/show/news/spain_s_banco_santander_criticized_for_hypocrisy Spain’s Banco Santander, which has been facing growing criticism for being a lead financier in a highly controversial dam project in the Brazilian Amazon, recently signed on to the “Equator Principles,” a set of socially and environmentally responsible financing guidelines adopted by a growing number of private banks.  At an annual meeting of the Equator banks this week in Washington, D.C., environmental organizations are challenging Banco Santander to demonstrate its commitment to the Equator… http://www.banktrack.org/show/news/spain_s_banco_santander_criticized_for_hypocrisy Wed, 13 May 2009 00:00:00 +0200 http://www.banktrack.org/show/news/world_s_major_banks_rule_out_financing_gunns_pulp_mill In a major development of the pulp mill campaign The Wilderness Society has released a list of the world’s leading banks which have committed to not finance Gunns’ environmentally destructive pulp mill. The Wilderness Society, in conjunction with GetUp and BankTrack, has ran a full page advertisement in the European edition of the Financial Times pointing out why other banks should follow their lead and commit to not financing the pulp mill.  “Leading international banks have committed to… http://www.banktrack.org/show/news/world_s_major_banks_rule_out_financing_gunns_pulp_mill Wed, 29 Apr 2009 00:00:00 +0200 http://www.banktrack.org/show/news/oil_and_gas_consortium_will_suspend_seismic_activities_to_protect_gray_whales A major oil and gas consortium has agreed to suspend planned seismic testing off Sakhalin Island in the Russian Far East, a crucial feeding area for the critically endangered Western Gray whale. The decision followed a recommendation today by a major international scientific panel to halt further oil and gas development in and around the feeding area of the Western Gray Whale. During a meeting of the Western Gray Whale Advisory Panel (WGWAP), Sakhalin Energy - a partnership between Shell, Gasprom… http://www.banktrack.org/show/news/oil_and_gas_consortium_will_suspend_seismic_activities_to_protect_gray_whales Fri, 24 Apr 2009 00:00:00 +0200 http://www.banktrack.org/show/news/campaigners_demand_rbs_stop_using_tax_money_to_destroy_climate A coalition of environmental and development groups [1] are today calling on the Treasury, UKFI [2] and RBS to stop pouring public money into climate damaging fossil fuel projects around the world.  The groups have also instructed their lawyers to write to the Treasury to reveal what environmental assessment impact was made at the time of the recapitalisation, and to call for proper assessment and evaluation of the climate risks associated with the RBS loan portfolio.  RBS will be holding their… http://www.banktrack.org/show/news/campaigners_demand_rbs_stop_using_tax_money_to_destroy_climate Fri, 03 Apr 2009 00:00:00 +0200 http://www.banktrack.org/show/news/carbon_principles_and_climate_principles_will_not_stop_melting_of_the_ice   A new report by BankTrack, ‘Meek Principles for a Tough Climate’, launched today at the start of climate convention negotiations in Bonn concludes that commercial banks must collectively commit to bolder action to avoid financing catastrophic climate change. The ‘Carbon Principles’ and the ‘Climate Principles’, the only two collective climate initiatives taken so far by banks, are considered to be too focused on accommodating business as usual and therefore inadequate as a response… http://www.banktrack.org/show/news/carbon_principles_and_climate_principles_will_not_stop_melting_of_the_ice Mon, 30 Mar 2009 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_sounds_alarm_on_subprime_carbon_and_the_need_to_regulate_carbon_markets If it is not structured properly, global warming legislation could lead to the creation of an enormous, poorly regulated derivatives market with failures mirroring those that led to the current financial crisis, according to a report released today by Friends of the Earth U.S. The report, Subprime Carbon? Re-thinking the World’s Largest New Derivatives Market, finds that existing financial regulations, as well as those in major cap-and-trade bills, are inadequate to govern carbon trading, creating… http://www.banktrack.org/show/news/new_report_sounds_alarm_on_subprime_carbon_and_the_need_to_regulate_carbon_markets Thu, 26 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/bnp_paribas_very_high_risk_of_harmful_investments Customers of BNP Paribas run a very high risk of harmful investments. This is revealed in new research that forms part of the "Banking Secrets" campaign of Netwerk Vlaanderen. The French bank owns or manages 657 million dollars in shares of ten companies that harm people and the environment, such as mining company Barrick Gold and Freeport McMoran. Netwerk Vlaanderen conducted research into the harmful investments made by AXA, Citibank, Dexia, Deutsche Bank, ING, KBC and Triodos Bank regarding environment,… http://www.banktrack.org/show/news/bnp_paribas_very_high_risk_of_harmful_investments Thu, 19 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/turkey_deports_international_rivers_staff_after_peaceful_water_forum_protest_against_ilisu_dam Two International Rivers' staff members were arrested and detained today for unfurling a banner at the opening ceremony of the World Water Forum (WWF) in Istanbul. They will be deported tomorrow morning or face a year in Turkish prison. As the opening ceremony of the WWF began, International Rivers' South Asia Director Ann-Kathrin Schneider and Climate Campaigner Payal Parekh unfurled a banner reading "No Risky Dams" in protest at the World Water Forum's promotion of destructive dams. They shouted… http://www.banktrack.org/show/news/turkey_deports_international_rivers_staff_after_peaceful_water_forum_protest_against_ilisu_dam Tue, 17 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/major_banks_facilitate_corruption_in_world_s_poorest_countries_government_regulation_is_not_working As G20 finance ministers meet in London to discuss how to rescue the global financial system and prevent the next disaster, a new report by anti-corruption NGO Global Witness shows how some of the world’s biggest banks have been dealing with some of the world’s most corrupt regimes.  By doing so they have facilitated corruption and looting of natural resource revenues, denying some of the world’s poorest people a chance to escape poverty. ‘The same lax regulation that created the credit… http://www.banktrack.org/show/news/major_banks_facilitate_corruption_in_world_s_poorest_countries_government_regulation_is_not_working Wed, 11 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/cernavoda_nuclear_reactor_too_dangerous_to_build_says_new_report Greenpeace is calling on Romania to abandon its plans to build two new Candu-6 reactors at Cernovoda in response to a recently released Greenpeace commissioned report that finds the Canadian reactor design is unsafe and too dangerous to build according to modern safety standards. “The Cernavoda reactors do not meet modern standards. The Romanian Government and the project companies must abandon their plans to proceed with the construction of Cernavoda 3 and 4," said Crisanta Lungu, an energy campaigner… http://www.banktrack.org/show/news/cernavoda_nuclear_reactor_too_dangerous_to_build_says_new_report Tue, 10 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/polemicas_ambientais_e_crise_afastam_financiamento_de_investidores_privados Seis meses após o início das obras da hidrelétrica de Santo Antônio, os bancos Santander e Banif, que participam com 20% da Saesa, empresa que constrói a usina, ainda não conseguiram investidores para o empreendimento. É o que afirma Roberto Simões, presidente da Saesa. Santander e Banif decidiram entrar como sócios por meio de um FIP (Fundo de Investimento Privado). O objetivo era vender as cotas do fundo e ficar no projeto como gestores. Os cotistas seriam os responsáveis pelos aportes… http://www.banktrack.org/show/news/polemicas_ambientais_e_crise_afastam_financiamento_de_investidores_privados Sun, 08 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/cri_d_alarme_de_l_uicn_pour_les_baleines_bnp_paribas_doit_quitter_sakhaline_ii Les scientifiques de l’UICN chargés de surveiller les impacts du projet pétrolier et gazier de Sakhaline II, dans l’extrême-orient russe, lancent un cri d’alarme devant la réduction anormale du nombre de baleines grises occidentales à l’été 2008. Le nouveau rapport de l’UICN confirme les craintes des ONG qui mettent en garde les acteurs de ce projet controversé depuis des années. Les Amis de la Terre demandent à nouveau à BNP Paribas de se retirer du projet. Sakhaline II est… http://www.banktrack.org/show/news/cri_d_alarme_de_l_uicn_pour_les_baleines_bnp_paribas_doit_quitter_sakhaline_ii Mon, 02 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/paper_group_listing_is_forest_unfriendly We’re hoping it’s not bad news for China’s forests, but the Ministry of Environmental Protection (MEP) posted a worrying statement today on paper giant APP’s Chinese subsidiary, Gold East Paper. Gold East Paper wants to list on the Shanghai Stock Exchange and it’s the MEP’s job to say yes or no. Days after they submitted their application last August, Greenpeace and several environmental groups including Global Village, Friends of Nature, Green SOS and Green Watershed, compiled a list… http://www.banktrack.org/show/news/paper_group_listing_is_forest_unfriendly Mon, 02 Mar 2009 00:00:00 +0100 http://www.banktrack.org/show/news/greenpeace_files_illegal_state_aid_complaint_for_construction_of_nuclear_plants_in_romania_and_bulgaria Greenpeace has filed complaints to the European Commission over alleged illegal state aid for the construction of two nuclear reactors in Romania and two in Bulgaria. The environmental organisation argues that both countries violate EU competition rules.Jan Haverkamp, EU energy campaigner for Greenpeace, said: "We have been investigating for many months the unfair competition conditions that have been granted to the nuclear sector in Romania and Bulgaria. We have now submitted the evidence we have… http://www.banktrack.org/show/news/greenpeace_files_illegal_state_aid_complaint_for_construction_of_nuclear_plants_in_romania_and_bulgaria Wed, 25 Feb 2009 00:00:00 +0100 http://www.banktrack.org/show/news/landmark_global_warming_lawsuit_settled A federal lawsuit that sought to force two U.S. agencies to address the global warming implications of their overseas financing activities was settled today after more than six years; the suit established important legal precedents related to global warming.Friends of the Earth, Greenpeace and the city of Boulder, Colorado, filed the suit (Friends of the Earth, Inc., et al. v. Spinelli, et al.) in August 2002 and were later joined by the California cities of Arcata, Santa Monica and Oakland. The… http://www.banktrack.org/show/news/landmark_global_warming_lawsuit_settled Fri, 06 Feb 2009 00:00:00 +0100 http://www.banktrack.org/show/news/maatschappelijk_verantwoord_beleggen De financiële wereld verkeert in zwaar weer. Banken hebben de afgelopen jaren onverantwoorde financiële risico’s genomen met verstrekkende negatieve gevolgen voor het vertrouwen binnen de financiële sector zelf, maar ook onder consumenten. Naast financiële risico´s hebben banken ook te maken met milieu-, sociaaleconomische en politieke risico’s. Uit nieuw onderzoek van SOMO naar de beleggingen van de vijf grootste Nederlandse retailbanken en twee duurzame banken blijkt dat, ondanks de omvangrijke… http://www.banktrack.org/show/news/maatschappelijk_verantwoord_beleggen Mon, 02 Feb 2009 00:00:00 +0100 http://www.banktrack.org/show/news/new_website_guides_dutch_consumers_in_choosing_sustainable_bank Oxfam Novib, Milieudefensie, Amnesty International and  Dutch  trade union FNV launched the Ethical Bank Indicator (eerlijke bankwijzer) on January 22 in Utrecht. The eerlijkebankwijzer is a website for critical consumers  in the Netherlands to check out how their bank scores when it comes to issues such as climate change, arms trafficking, labour rights and human rights. Bank customers do not only want to know if their savings are safe, but also if they are being invested ethically and justly.… http://www.banktrack.org/show/news/new_website_guides_dutch_consumers_in_choosing_sustainable_bank Thu, 22 Jan 2009 00:00:00 +0100 http://www.banktrack.org/show/news/ilisu_dam_project_facing_severe_backlash The European Ilisu Campaign welcomed the historic announcement by the German, Austrian and Swiss Governments to pull out of the Ilisu Dam project in Turkey after 180 days and claimed a landmark campaign victory. This unprecedented withdrawal reflects the serious social, cultural and environmental damage posed by the proposed dam. It is the first time that an agreed export credit guarantee has been suspended by any European Government. However, the European lisu Campaign remains concerned that the… http://www.banktrack.org/show/news/ilisu_dam_project_facing_severe_backlash Tue, 23 Dec 2008 00:00:00 +0100 http://www.banktrack.org/show/news/campaigners_demand_uk_coal_company_withdraw_support_for_destructive_bangladeshi_mine Bangladeshi activists, and campaigners from the London Mining Network and the World Development Movement are protesting outside UK coal company, Global Coal Management PLC's AGM today demanding an end to its destructive coal mining operation in Bangladesh. The meeting will be held at 10.00 a.m. at Sceptre Court, 40 Tower Hill, London EC3. [1]"Phulbari is a splendid example of a project that should not go ahead. The fact that it is being proposed by a London-based company and has been supported by… http://www.banktrack.org/show/news/campaigners_demand_uk_coal_company_withdraw_support_for_destructive_bangladeshi_mine Tue, 16 Dec 2008 00:00:00 +0100 http://www.banktrack.org/show/news/new_foe_report_french_insurances_guaranteed_climate_change_ Friends of the Earth France today publish the report "French insurances : guaranteed climate change?" (1), the fist study on the 15 most important French insurance companies (2), which reveals that none of them has a complete climate policy. The asset management policies are the worst ones dealing with climate and energy issues. Asset management of French insurers generates induced emissions of 490 million tons of CO2, which is the equivalent of 90% of all French emissions. Public policies are… http://www.banktrack.org/show/news/new_foe_report_french_insurances_guaranteed_climate_change_ Wed, 10 Dec 2008 00:00:00 +0100 http://www.banktrack.org/show/news/bank_of_america_stops_funding_mountain_top_removal Rainforest Action Network praised Bank of America today for its decision to phase out financing for companies that practice mountaintop removal coal mining, a highly destructive and controversial method of coal extraction. The announcement, part of a new coal policy released on the bank’s website, reads: “We…will phase out financing of companies whose predominant method of extracting coal is through mountain top removal.” “Bank of America’s decision is a giant leap forward in the fight… http://www.banktrack.org/show/news/bank_of_america_stops_funding_mountain_top_removal Thu, 04 Dec 2008 00:00:00 +0100 http://www.banktrack.org/show/news/waste_of_money_in_developing_countries The impact of the financial crisis on developing countries will be the subject of the second UN conference on Financing for Development, starting Saturday 29 November 2008 in Doha (Qatar). SOMO argues that tackling tax evasion and the ineffective promotion of foreign investment are important solutions for financing development.   Developing countries have been suffering from the financial crisis among others by less credit for production and trade activities or by more expensive credit for loans.… http://www.banktrack.org/show/news/waste_of_money_in_developing_countries Fri, 28 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/china_adopts_sustainable_lending_laws (click here for the Chinese press release) A new report released today by BankTrack analyzes green finance policies introduced in China over the past 18 months that are designed to curb the country's growing environmental problems, such as pollution and climate change.  BankTrack, the international network that monitors commercial and investment banks, said that China's effort to improve the sustainability of its financial sector could provide regulators in other parts of the world with fresh ideas… http://www.banktrack.org/show/news/china_adopts_sustainable_lending_laws Thu, 20 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/_ 美国和荷兰 - 银行监察组织今天发布的一份报告分析了过去18个月以来中国引入的绿色金融政策，该政策旨在遏制该国日益严重的污染和气候变化等环境问题。 银行监察组织是监察商业和投资银行的国际性网络。它认为中国改善金融业可持续性的努力可以为世界其他地方的监管者提供如何应对全球金融危机的新思路。 最近发布的《关于银行和金融危机的埃尔埃斯科里亚尔声明》，强调有必要建立一个更可持续、健全和公正的金融系统。这份题为《绿色变革：中国金融业的环境政策与实践》的报告接踵而至。… http://www.banktrack.org/show/news/_ Thu, 20 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/rainforest_action_network_study_ranks_financed_emissions_of_canadian_banks Rainforest Action Network (RAN) released a new report and website today ranking the carbon footprints of Canada’s top banks: RBC, TD, Scotiabank, CIBC, BMO, Vancity and Desjardins. Financing Global Warming: Canadian Banks and Fossil Fuels is the first report to analyze and quantify the greenhouse gas emissions of Canadian banks based on their financing of the fossil fuel sector. The report also makes recommendations for what banks, bank customers, regulators and civil society can do to help reduce… http://www.banktrack.org/show/news/rainforest_action_network_study_ranks_financed_emissions_of_canadian_banks Wed, 19 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/banktrack_launches_statement_on_financial_crisis BankTrack today released "Bank to the Future: El Escorial Statement on Banks and the Financial Crisis" at a press conference in Madrid. The statement was drafted at BankTrack's annual strategy meeting, held in San Lorenzo de El Escorial earlier this week. It contains BankTracks´ current position on what is needed to deal with the unfolding financial crisis of today so that it will lead to a sustainable, robust and just financial system in the future.The statement recognizes that the world financial… http://www.banktrack.org/show/news/banktrack_launches_statement_on_financial_crisis Thu, 06 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/financial_institutions_vote_more_in_favour_of_climate In 2008 Dutch banks and pension funds voted as shareholders more frequently in favour of climate resolutions than they did in previous years. Pension fund PGGM is in the lead while ING en Fortis rank lowest. These are the findings of the study “Aandelen in klimaatverandering"  ("Shares in climate change") which Milieudefensie publishes today where the voting patterns of Dutch banks and pension funds on climate-related shareholder resolutions is scrutinized.PGGM in 2008 supported 90 per cent of… http://www.banktrack.org/show/news/financial_institutions_vote_more_in_favour_of_climate Wed, 05 Nov 2008 00:00:00 +0100 http://www.banktrack.org/show/news/groups_call_for_environmental_regulation_of_rbs A coalition of NGOs, including Friends of the Earth Scotland and People & Planet, have today launched a call for the government to include environmental regulation as part of its multi-billion pound bail out of failing banks including the Royal Bank of Scotland. RBS has been the subject of particular controversy in recent years due to its track record as the UK bank putting the most money into financing emissions intensive fossil fuel projects around the world.The groups are calling for the bail… http://www.banktrack.org/show/news/groups_call_for_environmental_regulation_of_rbs Mon, 13 Oct 2008 00:00:00 +0200 http://www.banktrack.org/show/news/ilisu_dam_pullout_officially_initiated Germany, Austria and Switzerland have started the official process of withdrawing financial support for the Ilisu project in Turkey. According to the German Under-Secretary of State, Erich Stather, from the German Federal Ministry for Economic Cooperation and Development, the three countries initiated exit proceedings yesterday by sending an Environmental Failure notice to the Turkish government. From now on, Turkey has 60 days left to fulfil the conditions attached to the Ilisu Project. Non-governmental… http://www.banktrack.org/show/news/ilisu_dam_pullout_officially_initiated Wed, 08 Oct 2008 00:00:00 +0200 http://www.banktrack.org/show/news/ngos_criticise_private_banks_irresponsible_investment_in_kazakhstan Financial backers behind the Kashagan oil field in Kazakhstan have been called upon today to take action to resolve the environmental and health problems caused by offshore exploration at the 13 billion barrel project, located 20km off the northern Caspian Sea coast.In a letter to BNP Paribas, the leading financier of the project, and other private banks involved [1]  sixteen local and international environment organisations [2] are demanding that the institutions ensure an adequate and transparent… http://www.banktrack.org/show/news/ngos_criticise_private_banks_irresponsible_investment_in_kazakhstan Tue, 07 Oct 2008 00:00:00 +0200 http://www.banktrack.org/show/news/rwe_s_reputation_on_the_line_with_1_5_billion_euro_stake_in_bulgarian_nuclear_plant Environmental campaigners have warned of the reputational risks in store for German energy giant RWE following the  announcement that it has been chosen as strategic  investor for the Belene nuclear power plant (NPP) in Bulgaria.  Belene NPP is situated in a zone of high seismic activity in the north of Bulgaria, close to the Romanian border. It is slated to become the first new build of a Russian design NPP within the European Union.Belene would be RWE's first investment into an NPP  outside… http://www.banktrack.org/show/news/rwe_s_reputation_on_the_line_with_1_5_billion_euro_stake_in_bulgarian_nuclear_plant Tue, 07 Oct 2008 00:00:00 +0200 http://www.banktrack.org/show/news/new_friends_of_the_earth_ad_ties_nuclear_loan_guarantees_to_bush_bailout Loan guarantees sought by nuclear industry for reactor construction amount to ‘preemptive bailout,’ with expected default rate of 50 percent or higherA new ad from Friends of the Earth accuses nuclear industry lobbyists of seeking a “preemptive bailout” from Congress in the form of risky, taxpayer-backed loan guarantees from Congress.“First the government bails out the banks, now all of Wall Street, at a cost of over 1 trillion dollars.  So why would taxpayers ever risk billions to build… http://www.banktrack.org/show/news/new_friends_of_the_earth_ad_ties_nuclear_loan_guarantees_to_bush_bailout Tue, 30 Sep 2008 00:00:00 +0200 http://www.banktrack.org/show/news/friends_of_the_earth_opposes_bush_s_blank_check_bailout Government response to financial crisis must include fundamental structural reforms; Oversight, re-regulation, and means of returning lost revenue to treasury are needed Friends of the Earth announced its opposition to the Bush administration’s proposed trillion-dollar bailout of the financial system today, and called on elected officials to ensure that any government action related to the financial crisis fixes deep structural flaws in the financial system that have spawned not only the current… http://www.banktrack.org/show/news/friends_of_the_earth_opposes_bush_s_blank_check_bailout Mon, 22 Sep 2008 00:00:00 +0200 http://www.banktrack.org/show/news/cashing_in_on_coal_new_report The report compiles public evidence of coal industry financing by UK banks in the last two years, and reveals that RBS has helped lend more money to the coal industry, in more deals, than any other major UK bank.Published by BankTrack, Stop Climate Chaos and PLATFORM, the report shows that The Royal Bank of Scotland (RBS) has helped provide loans of almost $16 billion to coal-related companies over the last two years.Many of the loans documented by the research have been made to companies that are… http://www.banktrack.org/show/news/cashing_in_on_coal_new_report Tue, 26 Aug 2008 00:00:00 +0200 http://www.banktrack.org/show/news/global_civil_society_calls_on_private_banks_to_withdraw_support_from_bangladesh_coal_mine For immediate releaseOver 100 civil society organizations from 31 countries are calling on financial backers to withdraw their support of the Phulbari coal project in Bangladesh, citing egregious human rights abuses and environmental concerns associated with the project. Today, a letter was sent on behalf of these organizations to major financial institutions including UBS, Credit Suisse, Morgan Stanley and FRM Corp./Fidelity Investments. [1]Each of these financial institutions holds or manages… http://www.banktrack.org/show/news/global_civil_society_calls_on_private_banks_to_withdraw_support_from_bangladesh_coal_mine Thu, 21 Aug 2008 00:00:00 +0200 http://www.banktrack.org/show/news/paper_tigers_app_s_polluting_china_arm_seeks_ipo Greenpeace China and local green groups are lobbying the Chinese government to reject Gold East Paper's application for a domestic stock listing because of its shocking environmental record.Gold East Paper is an affiliate of Indonesian logging giant APP, which is suspected of illegal forest destruction in Indonesia and China.Greenpeace recommends that China's Ministry of Environmental Protection (MEP) carefully consider whether this company, which violates pollution laws and illegally destroys forests,… http://www.banktrack.org/show/news/paper_tigers_app_s_polluting_china_arm_seeks_ipo Thu, 14 Aug 2008 00:00:00 +0200 http://www.banktrack.org/show/news/environmentalists_blast_construction_license_for_amazon_dam Environmental organizations have condemned the Brazilian government´s approval of a license for construction of Santo Antonio Dam, on the Madeira River in the Brazilian Amazon. The groups say that Brazil´s environmental protection service, Ibama, has caved in to political interests, ignoring the advice of its own technical staff in licensing the dam, and approving a mitigation plan which will do little to decrease its impacts. Santo Antonio Dam would be the first of two dams to be built on the… http://www.banktrack.org/show/news/environmentalists_blast_construction_license_for_amazon_dam Thu, 14 Aug 2008 00:00:00 +0200 http://www.banktrack.org/show/news/banks_lack_robust_framework_for_minimizing_social_risks A new study finds that international project financiers, including the leading international banks and the International Finance Corporation, do not have a robust framework for minimizing the social risks posed by their projects. The study—The International Finance Corporation’s Performance Standards and the Equator Principles: Respecting Human Rights and Remedying Violations?—notes that recently-adopted standards are not likely to reduce potential human rights-related conflicts that may arise… http://www.banktrack.org/show/news/banks_lack_robust_framework_for_minimizing_social_risks Thu, 07 Aug 2008 00:00:00 +0200 http://www.banktrack.org/show/news/unconventional_oil_could_cost_us_the_earth With oil prices soaring, investing in unconventional fuel sources – such as oil sands or oil shale – could appear to be an attractive option, but according to a new report released on Tuesday by WWF and the Co-operative Financial Services (CFS), such investments are both environmentally and economically unsustainable and can only serve to undermine international efforts to combat climate change. Extracted from tar-soaked shale or sand, unconventional oil is an energy and resource intensive product,… http://www.banktrack.org/show/news/unconventional_oil_could_cost_us_the_earth Thu, 31 Jul 2008 00:00:00 +0200 http://www.banktrack.org/show/news/eight_chinese_ngos_announce_green_banking_innovation_award On behalf of eight Chinese environmental NGOs, Mr. Yu Xiaogang, Director of Green Watershed, announced the Green Banking Innovation Award in on July 26th. China Industrial Bank Co. Ltd. received this award at the Best China Banks Ceremony organized by the Economic Observer weekly in Shanghai. The Green Banking Innovation Award is the first-ever award in specifically about green banking and sustainable finance, which will promote banks and other financial institutions to consider their roles in environmental… http://www.banktrack.org/show/news/eight_chinese_ngos_announce_green_banking_innovation_award Sat, 26 Jul 2008 00:00:00 +0200 http://www.banktrack.org/show/news/environmental_groups_urge_exxon_executive_to_re_route_sakhalin_i_oil_pipeline Twelve US, Russian and international environmental organizations sent a letter today to Exxon Chief Executive Rex Tillerson urging the company to re-route a proposed pipeline away from herding grounds vital for indigenous people and around a bay that is vital for a critically endangered whale population in Russia (see copy of letter below). If the pipeline is built according to current plans, two indigenous groups' livelihoods will be severely harmed and the Western Gray Whale will be further threatened… http://www.banktrack.org/show/news/environmental_groups_urge_exxon_executive_to_re_route_sakhalin_i_oil_pipeline Wed, 09 Jul 2008 00:00:00 +0200 http://www.banktrack.org/show/news/uk_groups_slam_rbs_for_fossil_fuel_financing_on_the_eve_of_its_csr_report_launch On Friday July 4, the Royal Bank of Scotland will launch its 2007 Corporate Responsibility (CSR) Report. A coalition of environmental NGOs, including Friends of the Earth Scotland and People & Planet [1], are casting doubt on the bank’s green credentials in light of its ongoing role in financing fossil fuel expansion around the world. In 2007 RBS supported the fossil fuel industry with over $6 billion, while the bank’s embedded missions passed 50 million tonnes of CO2 – more than Scotland… http://www.banktrack.org/show/news/uk_groups_slam_rbs_for_fossil_fuel_financing_on_the_eve_of_its_csr_report_launch Thu, 03 Jul 2008 00:00:00 +0200 http://www.banktrack.org/show/news/friends_of_the_earth_france_welcomes_the_sri_and_climate_labeling_initiative_from_caisse_d_epargne Following its commitments of last year, the Caisse d'Epargne published their labeling methodology to inform consumers with respect to the banks' management of issues related to security, responsibility and climate.Friends of the Earth France accepted Caisses d'Epargne's invitation to participate in the development of the climate methodology, which is currently a very innovative initiative compared with other financiers. The most difficult part still has to be done, however: to incite consumers to… http://www.banktrack.org/show/news/friends_of_the_earth_france_welcomes_the_sri_and_climate_labeling_initiative_from_caisse_d_epargne Fri, 27 Jun 2008 00:00:00 +0200 http://www.banktrack.org/show/news/environmental_groups_condemn_japanese_and_french_banks_for_financing_sakhalin_ii_oil_and_gas_project_in_russia Environmental organizations today condemned the Japan Bank for International Cooperation (JBIC) and four private banks’ June 16 decision to provide approximately 5.3 billion dollars in financing for the problematic Sakhalin II oil and gas project in the Russian Far East.[1] JBIC (the Japan government’s official export credit agency), Bank of Tokyo-Mitsubishi UFJ (Japan), Mizuho Corporate Bank Ltd (Japan), Sumitomo Mitsui Bank Corp (Japan) and BNP Paribas (France) have severely violated their… http://www.banktrack.org/show/news/environmental_groups_condemn_japanese_and_french_banks_for_financing_sakhalin_ii_oil_and_gas_project_in_russia Tue, 17 Jun 2008 00:00:00 +0200 http://www.banktrack.org/show/news/japanese_banks_blasted_for_investment_plans_in_sakhalin_ii Eighteen environmental organizations today sent a letter assailing the Japan Bank for International Cooperation (JBIC) and four commercial banks’ reported plan to provide approximately 5.3 billion dollars in financing for the problematic Sakhalin II oil and gas project in the Russian Far East.[1] The groups are asking JBIC, Bank of Tokyo-Mitsubishi, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp. and French BNP Paribas to refuse all funding to the Sakhalin II project. According to the letter,… http://www.banktrack.org/show/news/japanese_banks_blasted_for_investment_plans_in_sakhalin_ii Thu, 12 Jun 2008 00:00:00 +0200 http://www.banktrack.org/show/news/banks_shun_harmful_investments Today sees the launch of the report ‘Ending Harmful Investments’ by Netwerk Vlaanderen in cooperation with BankTrack. The report discusses limits to investments in four damaging practices: the support of dictators, the infringement of labour laws, the destruction of the environment and the production of weapons. The report contains examples of pioneering financial institutions. The leaders in the field are the Dutch Algemene Spaarbank voor Nederland (ASN), the Italian Banca Etica, The Co-operative… http://www.banktrack.org/show/news/banks_shun_harmful_investments Wed, 11 Jun 2008 00:00:00 +0200 http://www.banktrack.org/show/news/risk_of_harmful_investments_is_too_high_for_belgian_customers Today, the Belgian NGO Netwerk Vlaanderen publishes a ranking of the largest banks active in Belgium. The classification is based on a new research into the banks policies and investments. Netwerk came to the conclusion that bank customers still run an unacceptably high risk of involvement with harmful investments. Dexia and KBC achieve the best scores amongst the large banks. Deutsche Bank performs very badly. Therefore "Burmese soldiers" will congratulate the bank for its “good” score in the… http://www.banktrack.org/show/news/risk_of_harmful_investments_is_too_high_for_belgian_customers Thu, 05 Jun 2008 00:00:00 +0200 http://www.banktrack.org/show/news/ngos_welcome_anz_decision_not_to_finance_gunns_poposed_pulp_mill The Wilderness Society (Tasmania) and BankTrack welcome the decision of ANZ not to provide funding to Gunns Ltd. for its controversial Tasmanian pulp mill project. After months of conducting its own review of the pulp mill proposal, ANZ has allegedly declined to participate in a syndicate funding the $2 billion project, media have reported widely. In light of ANZ's new forests policy, its adoption of the Equator Principles, and recent mounting public pressure from civil society groups opposed to… http://www.banktrack.org/show/news/ngos_welcome_anz_decision_not_to_finance_gunns_poposed_pulp_mill Wed, 28 May 2008 00:00:00 +0200 http://www.banktrack.org/show/news/new_report_european_banks_financing_damaging_agrofuels_in_latin_america Many major European banks are funding the rapid expansion of agrofuel production in Latin America, leading to large scale deforestation, increasing human rights abuses and threatening food sovereignty, according to a new report released today. The report - released by Friends of the Earth Europe amid global worries about the increasing impacts of rising food prices - calls for an end to investments by European banks in harmful agrofuel projects. [1] Agrofuels have been blamed as a major factor driving… http://www.banktrack.org/show/news/new_report_european_banks_financing_damaging_agrofuels_in_latin_america Mon, 19 May 2008 00:00:00 +0200 http://www.banktrack.org/show/news/new_financiers_and_the_environment Financial institutions from countries such as China, Brazil, India and Thailand are playing an increasingly active role in financing infrastructure and mining projects around the world. For example, since 2007 with ICBC, Bank of China and China Construction Bank three out of the ten biggest banks by market capitalization come from China.  Although they invest in environmentally sensitive sectors, many emerging financiers do not yet apply internationally accepted standards in their projects. The… http://www.banktrack.org/show/news/new_financiers_and_the_environment Thu, 15 May 2008 00:00:00 +0200 http://www.banktrack.org/show/news/protests_at_shareholders_meetings_of_citi_bank_of_america_and_rbs Campaigners of BankTrack member groups in the US and the UK gathered yesterday and today at the Annual Shareholder Meetings of Citi, Bank of America and RBS to challenge the banks on their role in financing projects and activities that exacerbate climate change. The protests are part of an ongoing world wide effort to push banks to take up their responsibility for combating climate change.New York: Protests at Citi shareholders meeting Yesterday in New York activists with Rainforest Action Network… http://www.banktrack.org/show/news/protests_at_shareholders_meetings_of_citi_bank_of_america_and_rbs Wed, 23 Apr 2008 00:00:00 +0200 http://www.banktrack.org/show/news/campaigners_confront_citi_over_coal_financing_at_annual_shareholder_meeting Activists with Rainforest Action Network (RAN) were joined by Appalachian residents at Citi’s Annual General Shareholder Meeting today to protest the bank’s role as a leading financier of the coal industry and to support a landmark shareholder resolution on climate change. The resolution—which was offered by Boston Common Asset Management, Catholic Healthcare West and Pleroma Inc.—requests that Citi cease all financial support for mountaintop removal (MTR) coal mining and the construction… http://www.banktrack.org/show/news/campaigners_confront_citi_over_coal_financing_at_annual_shareholder_meeting Tue, 22 Apr 2008 00:00:00 +0200 http://www.banktrack.org/show/news/adb_pulls_out_of_controversial_coal_project The Director of the Asian Development Bank's Private Sector Operations Department, Robert Bestani, notified the Bank's Board last week that it will no longer ask for approval of the Phulbari Coal Project in Bangladesh. The ADB's Board was slated to approve a US$ 100 m loan and US$ 200 m political risk guarantee for the project on June 3, 2008. This comes as another major blow to the UK based company GCM Resources (formerly known as Asia Energy), which aims to establish one of the world's largest… http://www.banktrack.org/show/news/adb_pulls_out_of_controversial_coal_project Fri, 04 Apr 2008 00:00:00 +0200 http://www.banktrack.org/show/news/protest_rallies_against_turkish_dam_all_over_europe Critics of the ill-conceived Ilisu Dam in Turkey today held protests and rallies all over Europe in front government buildings, banks and companies involved in the dam project.Actions were planned for Paris, Milan, Rome, Perugia, Berlin, Stuttgart and other German cities today, March 14, to mark the International Day of Action for Rivers, Water and Life. At least 77 organisations from 20 countries, including France, Germany and Italy, are all urging the governmental and financial institutions to… http://www.banktrack.org/show/news/protest_rallies_against_turkish_dam_all_over_europe Fri, 14 Mar 2008 00:00:00 +0100 http://www.banktrack.org/show/news/environmental_victory_for_sakhalin_ii Pacific Environment, WWF-UK, Sakhalin Environmental Watch and other groups celebrate Sakhalin Energy's abandoned attempt at public financing from the United States and the United Kingdom. Late yesterday Sakhalin Energy Investment Company, Ltd. (Sakhalin Energy) told Dow Jones that it is withdrawing applications for hundreds of millions of dollars in public financing for the crisis-plagued Sakhalin II project from the US Export Import Bank (Ex-Im Bank) and the UK Export Credit Guarantee Department… http://www.banktrack.org/show/news/environmental_victory_for_sakhalin_ii Tue, 04 Mar 2008 00:00:00 +0100 http://www.banktrack.org/show/news/_carbon_principles_another_nail_in_coals_coffin Three of the nation’s leading banks – Citi, JPMorgan Chase and Morgan Stanley – released a set of principles yesterday that could affect lending to coal-fired power plants. The so-called “Carbon Principles” reflect the tremendous pressure felt by members of the financial industry for their investments in coal and other greenhouse gas-intensive industries. According to Rainforest Action Network (RAN), which is calling on banks to end all coal investments, the Carbon Principles are an important… http://www.banktrack.org/show/news/_carbon_principles_another_nail_in_coals_coffin Tue, 05 Feb 2008 00:00:00 +0100 http://www.banktrack.org/show/news/ing_withdraws_from_slovak_nuclear_project Last week, the Dutch banking group ING told Greenpeace representatives that it has withdrawn financial support for the construction of the Mochvoce 3 and 4 nuclear reactors in Slovakia. ING took this step after it had received information from environmental organizations on the risks related to the Mochovce project. According to a press release by the Slovak utility Slovenske Elektrarne (SE), ING was the lead bank that had coordinated a loan of 800 Million EURO from nine banks on October 23rd 2007… http://www.banktrack.org/show/news/ing_withdraws_from_slovak_nuclear_project Tue, 29 Jan 2008 00:00:00 +0100 http://www.banktrack.org/show/news/west_lb_pulls_out_of_controversial_gold_mine The Indonesian province of North Sulawesi is a biodiversity hotspot and harbors some of the world's most spectacular nature areas. Northern Sulawesi is also home to a series of gold de-posits, the largest of which is known by the name of Toka Tindung. Plans to establish gold mining operations here have met with widespread resistance both from local inhabitants and the Provincial government, who fear that the mines would disrupt the ecology and the econ-omy of the region, which is based on fishing,… http://www.banktrack.org/show/news/west_lb_pulls_out_of_controversial_gold_mine Fri, 18 Jan 2008 00:00:00 +0100 http://www.banktrack.org/show/news/ngos_call_on_royal_bank_of_scotland_to_recall_loan_on_sakhalin_ii Nineteen local and international environmental organizations called today on Sir Fred Goodwin, CEO of Royal Bank of Scotland (RBS), to recall a controversial $1 billion loan by ABN AMRO for the Russian energy giant, Gazprom’s purchase of a controlling share of the enormous Sakhalin II oil and gas project in Russia.[1] Sakhalin II has caused many severe environmental problems and violates the Equator Principles, to which RBS has signed. The groups also request to meet with Goodwin. RBS leads a… http://www.banktrack.org/show/news/ngos_call_on_royal_bank_of_scotland_to_recall_loan_on_sakhalin_ii Thu, 17 Jan 2008 00:00:00 +0100 http://www.banktrack.org/show/news/mind_the_gap_banktrack_rates_credit_policies_of_45_banks The banking sector is showing progress in developing credit policies that deal with the social, environmental and human rights aspects of their operations, but this progress is slow and unequal, with some banks leading the way and many lagging far behind. Moreover, there continues to be a worrying gap between adopting stringent policies on the one hand and implementing them in day to day investment decisions on the other.This is the conclusion of 'Mind the Gap', a new report and web section launched… http://www.banktrack.org/show/news/mind_the_gap_banktrack_rates_credit_policies_of_45_banks Wed, 19 Dec 2007 00:00:00 +0100 http://www.banktrack.org/show/news/ubs_alerted_over_phulbari_coal_mine UBS, a financial heavyweight from Switzerland, is facing scrutiny by civil society organisations for investing in a proposed coal mine in Bangladesh. The Phulbari coal mine, proposed by GCM Resources Plc, is set to cause major social and environmental upheavals in the region, displacing upwards of 50 000 residents. Despite strong local opposition, investors UBS, RAB Capital and Barclays continue to back GCM with significant shareholdings. GCM Resources' strategic focus is the mine, and financial… http://www.banktrack.org/show/news/ubs_alerted_over_phulbari_coal_mine Mon, 17 Dec 2007 00:00:00 +0100 http://www.banktrack.org/show/news/banks_challenged_to_fight_climate_change International banks are key financiers of activities and operations that contribute to climate change. Therefore, banks must take up their responsibility and adopt stringent policies and practices that will reduce their negative climate impact and make them contribute to positive change. To do so requires hard choices of banks, especially regarding their involvement in the fossil fuel sector. This is the key message of a new paper launched today by BankTrack, the international network of NGOs monitoring… http://www.banktrack.org/show/news/banks_challenged_to_fight_climate_change Wed, 12 Dec 2007 00:00:00 +0100 http://www.banktrack.org/show/news/bank_secrets_cracked Today, the financial watchdog Netwerk Vlaanderen NGO (B) launches the report ‘Bank Secrets’. The dossier details the investments by 121 financial groups in companies violating fundamental human rights. The investors channel money to 13 companies selling weapons to dictators, denying people access to land and clean water, co-operating with armed rebel groups and being involved in forced relocations and heavy and irreversible pollution. International banks involved121 banks from 24 different countries… http://www.banktrack.org/show/news/bank_secrets_cracked Tue, 11 Dec 2007 00:00:00 +0100 http://www.banktrack.org/show/news/environmentalists_go_to_court_to_suspend_auction_rio_madeira_dam_project Friends of the Earth - Brazilian Amazon filed a civil lawsuit on Wednesday (Dec. 5th) in the Federal Courts, requesting the suspension of the Santo Antônio Hydro Power Plant project auction, in the Madeira River (state of Rondônia, in the Amazon), scheduled for December 10th. A previous lawsuit, filed by the Federal Prosecutor Office has been ruled in favour by two of the three judges of the Federal Courts responsible for the decision and can, as soon as it is deemed possible, reverse the validity… http://www.banktrack.org/show/news/environmentalists_go_to_court_to_suspend_auction_rio_madeira_dam_project Thu, 06 Dec 2007 00:00:00 +0100 http://www.banktrack.org/show/news/nationwide_protests_against_investment_in_turkey_s_ilisu_dam Kurdish groups and NGOs organized demonstrations outside local branches of the German Sparkasse (Savings Bank) and Deka Bank in eleven German towns today. The protests are targeting the two banks financial support of the controversial Ilisu dam in south-eastern Turkey that will submerge the ancient city of Hasankeyf. Deka Bank alone is underwriting construction of the hydropower project with more than 100 Million Euros. “With the financial contribution from DekaBank, more than 55,000 people will… http://www.banktrack.org/show/news/nationwide_protests_against_investment_in_turkey_s_ilisu_dam Fri, 30 Nov 2007 00:00:00 +0100 http://www.banktrack.org/show/news/say_no_to_belene_nuclear_plant_ Say no to Belene and join the protest European Energy Commissioner Andris Piebalgs is sitting in the hot seat. In the coming weeks, the Commission is expected to issue an opinion on the Belene nuclear power project (NPP) in Bulgaria. If the project is approved, it would clear the way for the Bulgarian government to apply for loans from public institutions such as Euratom and the European Investment Bank. Jan Haverkamp from Greenpeace remarks: “This will be a landmark decision since Euratom has… http://www.banktrack.org/show/news/say_no_to_belene_nuclear_plant_ Tue, 20 Nov 2007 00:00:00 +0100 http://www.banktrack.org/show/news/thousands_on_streets_to_protest_citi_and_bank_of_america_s_coal_investments Rainforest Action Network (RAN) turned out thousands of activists in more than 50 cities across the U.S. today to protest Citi and Bank of America’s investments in new coal-fired power plants and dirty coal extraction methods such as mountaintop removal coal mining. RAN is pressuring the two banks to divest from coal and invest in renewable energy sources such as wind and solar. The National Day of Action – organized by RAN, Coal River Mountain Watch, Appalachian Voices, Rising Tide North America,… http://www.banktrack.org/show/news/thousands_on_streets_to_protest_citi_and_bank_of_america_s_coal_investments Fri, 16 Nov 2007 00:00:00 +0100 http://www.banktrack.org/show/news/too_risky_for_business Activists from the Belgian and International Coalitions to Ban Uranium Weapons, Netwerk Vlaanderen and Friends of the Earth today organised a “radioactive buffet” for staff in the entrance hall of the Brussels offices of The Bank of New York Mellon. The buffet was organised to oppose the involvement of the bank in funding the production of controversial depleted uranium weapons. These weapons are both chemically toxic and radioactive, and have caused serious health consequences for both military… http://www.banktrack.org/show/news/too_risky_for_business Tue, 06 Nov 2007 00:00:00 +0100 http://www.banktrack.org/show/news/coalfield_residents_activists_and_students_close_down_d_c_citi_branch Rainforest Action Network (RAN), Coal River Mountain Watch, the Student Environmental Action Coalition (SEAC) and students from around the country shut down a Washington, D.C. Citi branch yesterday by performing a theatrical “die-in” and delivering a bundle of coal to the financial giant. The protesters, in Washington for this week’s major youth climate conference Power Shift, called on Citi to stop funding the leading cause of global warming in the United States: coal. “There is no room… http://www.banktrack.org/show/news/coalfield_residents_activists_and_students_close_down_d_c_citi_branch Tue, 06 Nov 2007 00:00:00 +0100 http://www.banktrack.org/show/news/greenpeace_study_warns_cernavoda_inhabitants_of_tritium_dangers_from_nuclear_power_plant Today, the international environmental organisation Greenpeace presented a study on tritium emissions [1] from the Cernavoda nuclear power plant. It commissioned the study from the international tritium expert Dr. Ian Fairlie from the United Kingdom. The study recommends that pregnant women, nursing mothers, and children (under 4) should not live within 10 kilometres of the Cernavoda nuclear power plant, and that people living within 5 kilometres should not consume food from their gardens, beehives,… http://www.banktrack.org/show/news/greenpeace_study_warns_cernavoda_inhabitants_of_tritium_dangers_from_nuclear_power_plant Wed, 31 Oct 2007 00:00:00 +0100 http://www.banktrack.org/show/news/royal_bank_of_scotland_profits_from_burmese_oil The Royal Bank of Scotland was warned today that its assets could be supporting the Burmese junta. A letter from Burma Campaign UK, PLATFORM and BankTrack warns that through its stake in Bank of China, RBS capital could be invested into and RBS profits could derive from Burmese oil and gas. The RBS controls 8.25% of Bank of China, key backer of Chinese oil companies propping up the military regime in Burma. Petrochina and Sinopec have been criticised heavily for co-operating closely with the Burmese… http://www.banktrack.org/show/news/royal_bank_of_scotland_profits_from_burmese_oil Mon, 29 Oct 2007 00:00:00 +0100 http://www.banktrack.org/show/news/genocide_in_darfur The genocide in Darfur relies mainly on the income of the Sudanese government from the oil industry. Involved are also Swiss financial institutions such as UBS or Credit Suisse which in total hold around 6 billion US dollars worth of investments in the controversial oil companies in Sudan. UBS plans, furthermore, to underwrite PetroChina’s IPO (initial public offering) on the Shanghai stock exchange on 5 November, despite massive international criticism. The non-governmental organisations Society… http://www.banktrack.org/show/news/genocide_in_darfur Mon, 29 Oct 2007 00:00:00 +0100 http://www.banktrack.org/show/news/high_financial_risks_for_rio_madeira_dam_project Technical, legal, social and environmental uncertainties increase financial risks to investors and creditors of Rio Madeira Dam Complex in the Brazilian Amazon, says a report published today by Amigos da Terra – Amazônia Brasileira. The report is the first of its kind for Rio Madeira, providing a rounded analysis of the project based upon a similar methodology employed by credit rating agencies which translates different aspects of the project into the level financial risks. The study argues… http://www.banktrack.org/show/news/high_financial_risks_for_rio_madeira_dam_project Fri, 26 Oct 2007 00:00:00 +0200 http://www.banktrack.org/show/news/arbitrary_expropriation_at_ilisu_dam_site The European Ilisu campaign has learned during a site visit, that without the knowledge of responsible authorities in Germany, Austria and Switzerland, the Turkish government has begun to expropriate the first affected villages at the controversial Ilisu dam site on the Tigris river in a move that violates conditions imposed by European export credit agencies.   Expropriated people are extremely angry at this development and the affected population’s overall indignation at the Ilisu dam project… http://www.banktrack.org/show/news/arbitrary_expropriation_at_ilisu_dam_site Wed, 24 Oct 2007 00:00:00 +0200 http://www.banktrack.org/show/news/activists_drape_50_foot_banner_across_from_bank_of_america_headquarters Environment Activists with Rainforest Action Network's (RAN) Global Finance Campaign draped a 50-foot banner reading "Bank of America: Funding Coal, Killing Communities" across the street from Bank of America's downtown Charlotte, N.C., headquarters this morning. The group is urging the financial giant to stop funding mountaintop removal coal mining and the construction of new coal-fired power plants.A highly destructive method of coal extraction, mountaintop removal involves exploding the tops… http://www.banktrack.org/show/news/activists_drape_50_foot_banner_across_from_bank_of_america_headquarters Tue, 23 Oct 2007 00:00:00 +0200 http://www.banktrack.org/show/news/new_anz_ceo_mr_smith_asked_to_not_finance_gunns_pulp_mill_tasmania BankTrack, a network of 24 international civil society organizations tracking private finance, along with The Wilderness Society and Rainforest Action Network, today unveil www.tellmrsmith.org. The new interactive website describes Mr Smith's opportunity to prevent large-scale environmental, economic and health impacts, and gives people around the globe the chance to tell ANZ’s new chief not to support Gunns Ltd’s destruction of Tasmania’s native forests and their proposed pulp mill.Mr Smith… http://www.banktrack.org/show/news/new_anz_ceo_mr_smith_asked_to_not_finance_gunns_pulp_mill_tasmania Tue, 18 Sep 2007 00:00:00 +0200 http://www.banktrack.org/show/news/ngos_condemn_signing_of_the_contracts_for_ilisu_dam_by_societe_generale_bank_austria_and_dekabank The Turkish government and German DekaBank, French Societe Generale and Bank Austria have signed the financial contract for the highly controversial Ilisu Dam in Southeast Turkey. Earlier this week, the final delivery contracts were signed already with the construction companies, including Andritz AG (Austria), Alstom Switzerland and Zueblin (Germany). A broad coalition of non-governmental organizations and civil society initiatives in Europe and Turkey criticize the European banks for entering… http://www.banktrack.org/show/news/ngos_condemn_signing_of_the_contracts_for_ilisu_dam_by_societe_generale_bank_austria_and_dekabank Wed, 15 Aug 2007 00:00:00 +0200 http://www.banktrack.org/show/news/rbs_profits_threatened_by_fossil_fuel_financing As the Royal Bank of Scotland prepares to announce its interim 6-month profits on Friday, NGOs warn that the bank’s financing of oil & gas projects may threaten current & future profit margins. Calculations indicate that the bank is carrying unaccounted for current carbon liabilities of up to almost £1 billion, over 20% of the bank’s interim profits. In 2006, RBS’ estimated embedded emissions resulting from loans to oil & gas extraction totaled over 43.7 million tonnes carbon dioxide [1].… http://www.banktrack.org/show/news/rbs_profits_threatened_by_fossil_fuel_financing Thu, 02 Aug 2007 00:00:00 +0200 http://www.banktrack.org/show/news/axa_disinvests_from_landmines_and_cluster_munitions In a official communication AXA announes to pull out investments of companies that produce anti-personnel mines and cluster munitions. [1] This is surprising good news from the Paris headquarters of this bank-insurance company. For last years AXA has shown heavy reluctance to adopt stricter weapon investment policies. One step ahead The decision by AXA to disinvest from anti-personnel mines dates from 2006. AXA claims to have fully implemented this policy now. Disinvesting from cluster munition… http://www.banktrack.org/show/news/axa_disinvests_from_landmines_and_cluster_munitions Wed, 18 Jul 2007 00:00:00 +0200 http://www.banktrack.org/show/news/rbs_adopts_climate_rhetoric_while_financing_global_warming Following release of RBS’ Corporate Responsibility [1] report today, environmental NGOs have welcomed RBS’ financing renewables and recognition of climate change as a threat. Yet major concerns remain over RBS’ distortion of the reality of its support for fossil fuels and its continued refusal to accept responsibility for the climate impacts of its loans, unlike other banks. Mika Minio-Paluello of PLATFORM said “Following our March report, RBS have dropped the title "The Oil & Gas Bank"… http://www.banktrack.org/show/news/rbs_adopts_climate_rhetoric_while_financing_global_warming Wed, 11 Jul 2007 00:00:00 +0200 http://www.banktrack.org/show/news/world_s_biggest_palm_oil_trader_responsible_for_illegal_logging_and_violating_human_rights Wilmar, the world’s biggest trader in palm oil, is illegally logging rainforests, setting forests on fire and violating the rights of local communities in Indonesia, according to a new report published today by Friends of the Earth Netherlands. Paul de Clerck, Corporates Campaigner at Friends of the Earth International, said: “This report reveals that Indonesian palm oil traded by Wilmar is scandalous and damaging the environment. Forests are being cut and burnt down illegally, Indonesian laws… http://www.banktrack.org/show/news/world_s_biggest_palm_oil_trader_responsible_for_illegal_logging_and_violating_human_rights Tue, 03 Jul 2007 00:00:00 +0200 http://www.banktrack.org/show/news/sakhalin_ii_new_environmental_violations_brought_to_light Fifteen Russian and international environmental organi- zations sent a letter today to leading public and private banks documenting extensive new environmental violations on the controversial Sakhalin II oil and gas project in Russia. These include the project’s continued refusal to follow the recommendations of an expert scientific  panel commissioned by project sponsors to review impacts on the critically endangered Western Gray Whale; failure to protect wild salmons spawning rivers from massive… http://www.banktrack.org/show/news/sakhalin_ii_new_environmental_violations_brought_to_light Wed, 27 Jun 2007 00:00:00 +0200 http://www.banktrack.org/show/news/major_international_banks_finance_catastrophic_mud_volcano Major international banks such as Credit Suisse, Barclays, Fortis Group, Merrill Lynch & Co. and Natixis are injecting hundreds of millions of Euros into a set of companies responsible for a catastrophic mud volcano in Indonesia, Friends of the Earth International/ Europe has revealed in two new reports launched today. Toxic mud has been gushing from the ground in Sidoarjo, Indonesia since May 2006, following drilling operations by the company Lapindo Brantas Inc. Friends of the Earth International… http://www.banktrack.org/show/news/major_international_banks_finance_catastrophic_mud_volcano Thu, 21 Jun 2007 00:00:00 +0200 http://www.banktrack.org/show/news/milieudefensie_publishes_climate_performance_index_2007_of_dutch_banks Investments by Dutch banks cause more than three times the total CO2 emissions that the Netherlands emit annually. Dutch banks invest over twenty times more in projects that harm the climate such as oil extraction and coal-fired plants, than in projects for climate friendly renewable energy. ABN AMRO is the worst performing Dutch bank with the biggest climate impact. These are the findings of a Friends of the Earth Netherlands (Milieudefensie) report published today. With the slogan “Climate Change?… http://www.banktrack.org/show/news/milieudefensie_publishes_climate_performance_index_2007_of_dutch_banks Sat, 09 Jun 2007 00:00:00 +0200 http://www.banktrack.org/show/news/europe_wide_protests_against_bnp_paribas On June 5, World Environment Day, environmental organizations in 15 countries protested against the French bank BNP Paribas, because of its involvement in the Belene Nuclear Power Project (NPP) in Bulgaria. BNP Paribas is providing a 250 Million Euro loan for the construction of two nuclear reactors of Russian design in Belene. It is the first western bank to become involved in this controversial project.  Environmental NGOs prosteded in Vienna, Paris, Sofia, Bucharest, Rome, Budapest, Amsterdam,… http://www.banktrack.org/show/news/europe_wide_protests_against_bnp_paribas Tue, 05 Jun 2007 00:00:00 +0200 http://www.banktrack.org/show/news/banks_to_stay_out_of_ilisu_dam_project Commercial banks today were warned not to become involved in investing or financing the controversial Ilisu Dam project located in Turkey. BankTrack, a network of 17 international NGOs in collaboration with civil society organisations WEED (Germany), ECAWatch (Austria), the Berne Declaration (Switzerland), Amis de la Terre (France), and The Corner House (UK) sent letters to major international banks outlining massive stakeholder opposition to construction of the dam and the failure of the project… http://www.banktrack.org/show/news/banks_to_stay_out_of_ilisu_dam_project Thu, 24 May 2007 00:00:00 +0200 http://www.banktrack.org/show/news/chinese_banks_need_to_catch_up_on_environmental_policies A new report released today by BankTrack, the international NGO network monitoring the financial sector, and Friends of the Earth US, finds that only two of China’s ten most important banks -- China Development Bank (CDB) and the Export-Import Bank of China (Chexim) -- have publicly-disclosed environmental policies. Both banks’ policies fall short of international best practice, while the rest of the banks surveyed had no publicly-available environmental financing standards. [1] With this report,… http://www.banktrack.org/show/news/chinese_banks_need_to_catch_up_on_environmental_policies Wed, 09 May 2007 00:00:00 +0200 http://www.banktrack.org/show/news/oil_development_proposal_violates_international_standards Scientists and conservationists from thirteen countries have urged President Correa of Ecuador, his Energy and Environment Ministers, Alberto Acosta and Ana Alban, and ten international banks to reconsider Brazilian oil company Petrobras’ current plan for oil drilling in Block 31, which encompasses key areas of Yasuní National Park. Yasuni is the crown jewel of the Ecuadorian mainland national park system. This park is an area of unique biological and scientific importance in the core of a UNESCO… http://www.banktrack.org/show/news/oil_development_proposal_violates_international_standards Tue, 08 May 2007 00:00:00 +0200 http://www.banktrack.org/show/news/abn_amro_financing_for_sakhalin_ii_poses_huge_risk_for_potential_buyers As ABN Amro shareholders decide today on the future of the bank, whether to be taken over by Barclays or dissected by an RBS-led consortium,  recent financing of Russia's controversial Sakhalin II oil and gas project will sully the environmental reputation of whichever bank that ends up buying it. On Tuesday, April 24, 2007, The Moscow Times reported that ABN AMRO Holding and Societe Generale provided US$ 1 billion each to the Russian government controlled gas giant, Gazprom, for its purchase of… http://www.banktrack.org/show/news/abn_amro_financing_for_sakhalin_ii_poses_huge_risk_for_potential_buyers Thu, 26 Apr 2007 00:00:00 +0200 http://www.banktrack.org/show/news/anz_risks_equator_principles_violation Only three months after adopting the Equator Principles, ANZ Bank of Australia is risking violations to the well-established principles of global project finance through its involvement in the controversial Gunns pulp mill proposed for the Tamar Valley in northern Tasmania. Gunns Ltd, the Tasmanian company responsible for clear felling large areas of Tasmania’s high conservation-value old-growth forests, last week withdrew the pulp mill from the established environmental and social assessment… http://www.banktrack.org/show/news/anz_risks_equator_principles_violation Tue, 27 Mar 2007 00:00:00 +0200 http://www.banktrack.org/show/news/who_has_adopted_the_equator_principles_ The Equator Principle Secretariat is unaware just exactly which banks have adopted the Equator Principles. Mizuho Bank, an Equator Principle Financial Institution since October 2003 and now hosting the EP Secretariat has no knowledge of the latest two banks that claim to have signed up to the principles. Respected business website INFOBAE informs that Banco Galicia of Argentina became a signatory to the EPs on March 19. The Buenos Aires based news service reveals Banco will adhere to the Equator… http://www.banktrack.org/show/news/who_has_adopted_the_equator_principles_ Thu, 22 Mar 2007 00:00:00 +0100 http://www.banktrack.org/show/news/the_oil_gas_bank The Royal Bank of Scotland is covering up involvement in carbon emissions greater than those of the whole country of Scotland, according to new research published today, Monday 12 March 2007. The report “The Oil & Gas Bank” reveals the extent to which RBS-NatWest is providing the financial fuel driving climate change. Publicly promoting itself as "The Oil & Gas Bank", RBS provides oil corporations with the cash to build and operate drilling rigs, pipelines and oil tankers in some of the world’s… http://www.banktrack.org/show/news/the_oil_gas_bank Mon, 12 Mar 2007 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_foe_france_french_banks_fossil_banks_ Les Amis de la Terre today releases the report « French banks, Fossil banks? » (French version). the report estimates, for the first time in France, the French banks' indirect greenhouse gas emissions and underlines the lack of credible energy and climate policies. The report relies on the best international practices and points out the obvious lagging behind  by French banks. Les Amis de la Terre provides them with clear recommendations. The report's release is accompanied with an eco-citizen… http://www.banktrack.org/show/news/new_report_foe_france_french_banks_fossil_banks_ Tue, 06 Mar 2007 00:00:00 +0100 http://www.banktrack.org/show/news/sixty_eight_banks_fuelling_cluster_munition_producers_with_billions_of_dollars Today Netwerk Vlaanderen launches its new briefing paper ‘Explosive Investments’ revealing the results of its research into the financing of six cluster munition producers like Lockheed Martin, Thales and Raytheon. Sixty-eight financial institutions have been found to play a role in the financing of these companies. International Banks InvolvedFinancial flows have reached these companies from all over the world. The research contains information on financial institutions from Australia, Belgium,… http://www.banktrack.org/show/news/sixty_eight_banks_fuelling_cluster_munition_producers_with_billions_of_dollars Thu, 01 Mar 2007 00:00:00 +0100 http://www.banktrack.org/show/news/human_rights_are_banking_risks Financial institutions can play an important role in promoting human rights, as well as respecting them by preventing or minimizing the social and environmental harm that may be caused by their transactions. Too often, Banks are complicit in human rights by ignoring the human rights violations of clients while providing financial assistance for the client's activities. To avoid this situation banks should develop robust human rights policies, in the same spirit as they have collectively developed… http://www.banktrack.org/show/news/human_rights_are_banking_risks Fri, 16 Feb 2007 00:00:00 +0100 http://www.banktrack.org/show/news/credit_suisse_involved_in_malaysian_logging_giants_stock_exchange_listing Credit Suisse of Switzerland, British HSBC and the Australian Macquarie Bank are taking steps to list Samling Global Ltd, a Malaysian logging company, on the Hong Kong stock exchange. The sale of shares will start on 23 February, with official trading set for 7 March. Samling expects to raise 280 million US Dollars from the listing and intends to use the money for expansion and to repay debts. The Malaysian Samling group, which is based in the Malaysian state of Sarawak on Borneo, is one of Malaysia`s… http://www.banktrack.org/show/news/credit_suisse_involved_in_malaysian_logging_giants_stock_exchange_listing Thu, 15 Feb 2007 00:00:00 +0100 http://www.banktrack.org/show/news/strong_criticism_on_reopening_lafayette_rapu_rapu_mine_philippines Rapu-Rapu community leaders, the Bishop of Sorsogon, Philippine and international environmental organizations have all strongly condemned the Philippine government's decision to allow the open-pit mine of Lafayette Philippines Inc. (LPI) in Rapu-Rapu, Albay province to return to full-scale commercial operations.They warned that the Department of Environment and Natural Resources (DENR), by granting a so called Permanent Lifting Order, has unleashed a multi-billion peso environmental time bomb and… http://www.banktrack.org/show/news/strong_criticism_on_reopening_lafayette_rapu_rapu_mine_philippines Fri, 09 Feb 2007 00:00:00 +0100 http://www.banktrack.org/show/news/calyon_to_support_controversial_botnia_pulp_mill_project_in_uruguay Calyon last week confirmed to BankTrack that it has decided to support the controversial Botnia pulp mill project on the Argentine-Uruguayan border. In a meeting with representatives of BankTrack, Calyon staff explained that it believes that the project meets all their relevant investment policies. The bank thereby points to the IFC decision to go ahead with the project despite local opposition, as well as recent conclusions by the Finnish government, discarding a complaint presented by the Center… http://www.banktrack.org/show/news/calyon_to_support_controversial_botnia_pulp_mill_project_in_uruguay Mon, 15 Jan 2007 00:00:00 +0100 http://www.banktrack.org/show/news/banks_have_a_responsibility_in_respecting_human_rights BankTrack today sent a letter to Dr. John Ruggie, the United Nations Secretary General’s Special Representative on Human Rights & Business, urging him to call for a more comprehensive approach to human rights responsibilities in the banking sector. After the business community rejected the Norms on the Human Rights Responsibilities of Transnational Corporations and Other Enterprises, Dr. Ruggie was appointed by UN Secretary General Kofi Annan to clarify and achieve some level of consensus on the… http://www.banktrack.org/show/news/banks_have_a_responsibility_in_respecting_human_rights Mon, 18 Dec 2006 00:00:00 +0100 http://www.banktrack.org/show/news/rainforest_action_network_to_global_banks_do_not_fund_txu_coal_fired_power_plant Rainforest Action Network (RAN) is calling on private banks around the world to reject Dallas-based utility company TXU’s solicitations for $11 billion in debt and equity to finance 11 new coal-fired power plants in Texas. If completed, the new plants will result in 78 million tons of new carbon dioxide (CO2) emissions per year – greater than the total greenhouse gas emissions of many countries. The plants, which TXU says will produce nine gigawatts of electricity by 2011, represent the first… http://www.banktrack.org/show/news/rainforest_action_network_to_global_banks_do_not_fund_txu_coal_fired_power_plant Thu, 14 Dec 2006 00:00:00 +0100 http://www.banktrack.org/show/news/and_while_london_burns_in_square_mile Today sees the launch of "And While London Burns" - a compelling collision of thriller, opera and guided walk that dramatically explores London's Square Mile and its role in climate change. The 'opera for one' takes the audience on a walking audio adventure through the skyscrapers, corridors and alleyways of the City. Participants, equipped with an mp3-player, unearth the connections between the financial sector and accelerating climate change. The audio tour explores the role of companies… http://www.banktrack.org/show/news/and_while_london_burns_in_square_mile Fri, 01 Dec 2006 00:00:00 +0100 http://www.banktrack.org/show/news/masterminds_behind_unethical_bank_revealed Masterminds behind unethical bank revealed.October 2006. A mysterious bank suddenly appears on the Belgian market. The bank is proud to invest in the arms industry, oil- and gas, nuclear power, agrochemicals and companies violating their workers' rights. ACE*bank immediately provokes reactions.After weeks of outrage, enthousiasm and speculations, the belgian ngo -and BankTrack member- NetwerkVlaanderen reveals to be the mastermind behind this fake bank. The action turns out to be part of thecampaign… http://www.banktrack.org/show/news/masterminds_behind_unethical_bank_revealed Thu, 30 Nov 2006 00:00:00 +0100 http://www.banktrack.org/show/news/the_dos_and_donts_of_sustainable_banking BankTrack, the NGO network monitoring the private financial sector, today releases a new publication, 'The Do's and Don’ts of Sustainable Banking; a BankTrack manual'. The publication will be presented at Ethical Corporations’ ‘Sustainable Finance Summit’ in London, during the panel on “Emerging NGO visions of Sustainable Banking”.The manual seeks to answer the straightforward question posed to the panel; ‘what does a really sustainable bank look like?’. It follows the outline of… http://www.banktrack.org/show/news/the_dos_and_donts_of_sustainable_banking Wed, 29 Nov 2006 00:00:00 +0100 http://www.banktrack.org/show/news/independent_experts_find_fatal_flaws_in_amazon_dam_studies A group of independent experts - including internationally-renowned authorities on the Amazon - have found serious errors and omissions in the environmental impact assessment (EIA) for Brazil's massive Madeira River hydroelectric project. The experts found the EIA to be inadequate, and recommend that additional studies be undertaken to evaluate the project's impacts. The independent studies were commissioned by the Rondônia Public Attorney's office, and financed by the consortium seeking to build… http://www.banktrack.org/show/news/independent_experts_find_fatal_flaws_in_amazon_dam_studies Mon, 13 Nov 2006 00:00:00 +0100 http://www.banktrack.org/show/news/european_banks_withdraw_from_belene_nuclear_power_project UniCredit Group [1] and Deutsche Bank have informed a coalition of environmental and watchdog organisations that they have withdrawn their interest in financing two nuclear power stations near the Bulgarian town of Belene. The move comes one week after Standard and Poor´s downrated the Bulgarian utility NEK from "developing" to "negative" because of its 51 percent participation in Belene [2], a project with estimated construction costs of between 2 and 3.5 billion euros. Sofia-based Petko Kovachev… http://www.banktrack.org/show/news/european_banks_withdraw_from_belene_nuclear_power_project Fri, 20 Oct 2006 00:00:00 +0200 http://www.banktrack.org/show/news/unicredito_faces_europe_wide_protests_over_bulgarian_nuclear_plant The UniCredit Group is offering financing for the construction of a new nuclear power plant (NPP) in Bulgaria. The Belene NPP is highly controversial since it is planned in an earthquake zone, close to the Romanian border. Only 12 kilometers away from the project site, 200 people died in an earthquake in 1977, a fact that is completely ignored by Bulgarian authorities. Furthermore, the planning of the project continues to be marred by manipulations that have resulted in an already one-and-a-half… http://www.banktrack.org/show/news/unicredito_faces_europe_wide_protests_over_bulgarian_nuclear_plant Fri, 13 Oct 2006 00:00:00 +0200 http://www.banktrack.org/show/news/oil_for_germany_at_any_cost Urgewald proudly presents a new study "Oel fuer Deutschland - Koste es was es wolle" (Oil for Germany - at any cost) on the Russian oil industry, environmental destruction and human rights violations it causes and how German banks are involved through their financing of Russian oil companies. The aim of the study is to raise awareness of these problems - especially with parliamentarians, civil servants and the decision makers in public and private banks - in order to hold them to account for their… http://www.banktrack.org/show/news/oil_for_germany_at_any_cost Wed, 04 Oct 2006 00:00:00 +0200 http://www.banktrack.org/show/news/banks_continue_to_invest_in_cluster_munitions Since the spring of 2006, Belgium is the first land to introduce a ban on cluster munitions. Despite this, the bank groups AXA, Dexia, Fortis and ING invest in cluster munitions. This has been revealed on September 14th in a new report ‘Explosive portfolios’ published by Netwerk Vlaanderen. Although pressure from the campaign ‘My Money. Clear Conscience?’ forced four bank groups to announce their withdraw from investments in cluster munitions, it is apparent that only KBC has completely… http://www.banktrack.org/show/news/banks_continue_to_invest_in_cluster_munitions Mon, 18 Sep 2006 00:00:00 +0200 http://www.banktrack.org/show/news/sakhalin_ii_six_banks_face_serious_decision While the Russian government has deemed Shell’s controversial Sakhalin II project non-compliant with environmental plans and revoked environmental approval, six private banks continue to bid to arrange financing. BankTrack has written to the Royal Bank of Scotland, ABN AMRO, BNP Paribas, Mizuho, SMBC and BoT-Mitsubishi, to call on them not to finance Sakhalin II due to the impacts on whale and marine biodiversity, geologic hazards, gender impacts, dumping in Aniva Bay, erosion, violations in in… http://www.banktrack.org/show/news/sakhalin_ii_six_banks_face_serious_decision Fri, 15 Sep 2006 00:00:00 +0200 http://www.banktrack.org/show/news/ngos_lodge_complaint_against_anz_bank_for_png_illegal_logging_ties Five community groups from Australia and Papua New Guinea today filed a formal complaint against the ANZ Bank over its financial support of logging companies that are engaged in human rights abuses and environmental destruction in PNG. The complaint (or "specific instance") was filed under the OECD Guidelines for Multinational Enterprises. The complaint alleges that ANZ is "actively facilitating and supporting" the PNG operations of Malaysian logging giant Rimbunan Hijau, a company whose operations… http://www.banktrack.org/show/news/ngos_lodge_complaint_against_anz_bank_for_png_illegal_logging_ties Wed, 23 Aug 2006 00:00:00 +0200 http://www.banktrack.org/show/news/equator_principles_re_launched BankTrack welcomes any initiative that enhances the social and environmental sustainability of bank financing operations. BankTrack acknowledges the improvements in the new version of the Equator Principles (EPs), such as the expansion of the Principles to cover financial advising and the lower threshold, but also believes that the EPs fail to live up to their potential. The Era of Implementation As the Equator banks have recognized, implementation is critical to the success of the Principles. Since… http://www.banktrack.org/show/news/equator_principles_re_launched Fri, 07 Jul 2006 00:00:00 +0200 http://www.banktrack.org/show/news/solidly_swiss_ Neither UBS nor Credit Suisse operate mines or drilling rigs. But Berne Declaration and BankTrack wanted a more complete picture of the involvement of the two leading Swiss banks in the extractive industries. In our research, we examined the financial links between Swiss banks and  firms involved in the oil, mining and gas industry. We concentrated on significant financing of companies engaged in conflicts with local populations that occurred within the past five years. In over 60 individual cases,… http://www.banktrack.org/show/news/solidly_swiss_ Tue, 04 Jul 2006 00:00:00 +0200 http://www.banktrack.org/show/news/no_party_time_for_burmese_democrats On 19th of june 2006, the Burmese Nobel Prize winner San Suu Kyi celebrated her 61st birthday. Her party, the National League for democracy, asks the Belgian banks not to invest in companies with important activities in Burma. The leader of the Burmese democrats calls for an economic boycott of her country and states that foreign investments offer financial and moral support to the military dictators. The City of Brussels, which has recently become ‘Municipality for Burma’, also objects to investments… http://www.banktrack.org/show/news/no_party_time_for_burmese_democrats Mon, 19 Jun 2006 00:00:00 +0200 http://www.banktrack.org/show/news/dutch_banks_score_below_the_mark_on_climate_policies The climate policies of the big Dutch banks are insufficient and lag behind those of big international banks such as the Bank of America and Citigroup. These conclusions are the result of the first major report to compare the nature of Dutch bank investments : ‘Investing in Climate Change: the Role of Dutch Banks and the Climate Performance Index. Friends of the Earth Netherlands (Milieudefensie) today presented these results during the annual meeting of the branch organisation for Dutch banks,… http://www.banktrack.org/show/news/dutch_banks_score_below_the_mark_on_climate_policies Sat, 17 Jun 2006 00:00:00 +0200 http://www.banktrack.org/show/news/international_coalition_denounces_calyon_for_its_support_to_finnish_papermill_botnia_in_uruguay Nine organizations including broad civil society networks in 6 countries, filed a complaint today against Calyon, the international financial investment arm of Crédit Agricole of France, for violations of the Equator Principles, in Calyon's support of the highly controversial Finnish papermill in Uruguay in construction by Botnia. The complaint was modeled after an earlier complaint presented to ING Group of Netherlands, soon after which ING withdrew US$480 million in pledged support to Botnia.… http://www.banktrack.org/show/news/international_coalition_denounces_calyon_for_its_support_to_finnish_papermill_botnia_in_uruguay Thu, 18 May 2006 00:00:00 +0200 http://www.banktrack.org/show/news/global_banking_giant_abn_amro_awarded_for_environmental_hypocrisy A full page advertisement in today's Washington Post exposes Dutch banking giant ABN Amro's environmental hypocrisy for bidding to fund one of the most environmentally and socially destructive projects in history. The ad comes the day before ABN Amro is scheduled to accept the World Environment Center's 2006 Gold Medal Award for "International Corporate Achievement in Sustainable Development. Purchased by Rainforest Action Network, Pacific Environment and Sakhalin Environment Watch, the ad calls… http://www.banktrack.org/show/news/global_banking_giant_abn_amro_awarded_for_environmental_hypocrisy Thu, 11 May 2006 00:00:00 +0200 http://www.banktrack.org/show/news/kbc_throws_eleven_cluster_bomb_producers_out_of_its_portfolio Last week KBC bank revealed that eleven more weapon producers have been added to their “black-list” of companies. KBC has stated that it will no longer invest in these eleven companies, who are all involved in the production of cluster munitions. This decision has been taken in the context of a stricter policy of the bank group in relation to the arms trade. Netwerk Vlaanderen, Vrede, Forum voor Vredesactie and For Mother Earth warmly welcome this decision. KBC has shown that it is taking the… http://www.banktrack.org/show/news/kbc_throws_eleven_cluster_bomb_producers_out_of_its_portfolio Tue, 02 May 2006 00:00:00 +0200 http://www.banktrack.org/show/news/shell_poses_unacceptable_oil_spill_threat The European Bank for Reconstruction and Development (EBRD) should demand effective environmental protection measures for oil spills from Shell or decline funding to the project according to WWF. Currently the oil giant’s project will expose a highly endangered whale population and a pristine arctic environment to unacceptable risks from marine oil spills that could last for years. A new report released today concludes that the highly dynamic sea ice conditions around Shell’s Sakhalin operation,… http://www.banktrack.org/show/news/shell_poses_unacceptable_oil_spill_threat Fri, 28 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/dutch_banks_under_pressure_not_to_finance_russian_oil_and_gas_project Dutch Banking giant ABN AMRO is under pressure at its annual general meeting of shareholders today as environmental organizations are urging it not to finance a controversial energy project in Russia. The Sakhalin-II project in is one of the biggest oil and gas projects worldwide, and the environmental organizations claim that it violates social and environmental guidelines known as the ‘Equator Principles’ for financing major projects. The Sakhalin-II project in is one of the biggest oil… http://www.banktrack.org/show/news/dutch_banks_under_pressure_not_to_finance_russian_oil_and_gas_project Thu, 27 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/protests_against_years_of_destructive_investments_at_wells_fargo_agm Today, socially responsible investors and a broad spectrum of environmental and human rights advocates protested Wells Fargo’s socially and environmentally destructive investments at the company’s annual general meeting (AGM) of shareholders in San Francisco. Protesters outside the meeting used giant puppets and banners to highlight Wells Fargo’s bad investments in oil and coal companies infamous for environmental destruction and human rights abuses and bad practices like predatory lending… http://www.banktrack.org/show/news/protests_against_years_of_destructive_investments_at_wells_fargo_agm Tue, 25 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/shareholders_protest_against_ing_investments_in_human_rights_abuses During the AGM, critical shareholders will question ING about investments in companies that are involved in human rights violations. Recent research demonstrates the financial links between ING and companies that have been criticised due to practices such as support for dictatorial regimes, forced relocations of population, and forced labour. This is published in the report ‘Where do you draw the line? Research into the financial links between five bank groups and companies that violate human… http://www.banktrack.org/show/news/shareholders_protest_against_ing_investments_in_human_rights_abuses Tue, 25 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/ing_bank_dumps_divisive_1_7_billion_paper_mill_project Dutch banking giant ING announced in a letter to Friends of the Earth International, CEDHA and  BankTrack that it is pulling out of a divisive venture opposed by environmentalists and local communities in Uruguay and Argentina. The ING Group wrote in an April 12 letter that its participation in the 1.7 billion USD controversial paper mill project of Finnish company Botnia in Uruguay "is no longer under consideration".  The ING Group had an advisory role to the company and was to arrange a  USD… http://www.banktrack.org/show/news/ing_bank_dumps_divisive_1_7_billion_paper_mill_project Thu, 13 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/uk_s_largest_ethical_bank_won_t_touch_world_bank_private_sector_bonds Leading development and environment NGOs, including Christian Aid and Friends of the Earth, have today welcomed the commitment by The Co-operative Bank to hold no investments in the World Bank’s private sector arm, the International Finance Corporation (IFC).  It is understood that the Co-operative Bank had become increasingly concerned about the IFC’s commitment to fossil fuel extraction and its failure to provide meaningful investment for renewable energy projects.  Industry monitors estimate… http://www.banktrack.org/show/news/uk_s_largest_ethical_bank_won_t_touch_world_bank_private_sector_bonds Tue, 11 Apr 2006 00:00:00 +0200 http://www.banktrack.org/show/news/belgian_campaign_puts_banks_under_pressure_to_stop_investing_in_burma The Burmese democrats call on Belgian Banks to disinvest from companies in Birma. They claim these investments offer a substantial moral and financial support to the military regime, notorious for its systematic violations of human rights. A recent Netwerk Vlaanderen (B) Report revealed the links between the five biggest financial groups in Belgium (KBC, Dexia, Fortis, ING and AXA) and companies with activities in Burma. The conclusions of the report were well covered in the press and lead to talks… http://www.banktrack.org/show/news/belgian_campaign_puts_banks_under_pressure_to_stop_investing_in_burma Thu, 16 Mar 2006 00:00:00 +0100 http://www.banktrack.org/show/news/ing_and_axa_invest_in_the_modernisation_of_white_phosphorus_weapons Press release Netwerk Vlaanderen On 18th and 19th March, millions of people will take to the streets to oppose the war and occupation in Iraq. Demonstrations are planned in no less than 208 cities around the world, including New York, London, Jakarta, Sao Paulo and Brussels. The protests oppose, amongst other things, the use of “dirty weapons” in the war. One example is the US attack on Fallujah in November 2004, where the use of white phosphorus caused many civilian casualties. Since then,… http://www.banktrack.org/show/news/ing_and_axa_invest_in_the_modernisation_of_white_phosphorus_weapons Mon, 13 Mar 2006 00:00:00 +0100 http://www.banktrack.org/show/news/new_report_foe_france_banques_et_environnement_presque_tout_reste_faire Friends of the Earth France published a new report today highlighting the absence of effective environmental policy within eight of the biggest French banks. As a consequence, Friends of the Earth is asking for a reinforcement of the Reporting Law and the implementation of specific environmental policies within banks, especially regarding their indirect environmental impacts. “Banques françaises et environnement: Presque tout à faire” is the first report of its kind being launched in . It… http://www.banktrack.org/show/news/new_report_foe_france_banques_et_environnement_presque_tout_reste_faire Mon, 06 Mar 2006 00:00:00 +0100 http://www.banktrack.org/show/news/banks_warned_of_liability_if_baku_ceyhan_pipeline_leaks The fifteen major banks that financed the controversial Baku-Tbilisi-Ceyhan (BTC) oil pipeline have been warned that they could face court if the pipeline leaks. The banks, including Royal Bank of Scotland and ABN AMRO, would be liable if they had knowledge of a potential cause of pipeline failure, yet failed to act to remove the risk of pollution. The warning to the boards and legal departments of the fifteen banks came in a letter from UK, Georgian and Azeri campaign groups who have been monitoring… http://www.banktrack.org/show/news/banks_warned_of_liability_if_baku_ceyhan_pipeline_leaks Fri, 17 Feb 2006 00:00:00 +0100 http://www.banktrack.org/show/news/new_wwf_banktrack_report_shaping_the_future_of_sustainable_finance A new study released by BankTrack and WWF today has found that there is a growing commitment to sustainable banking within the international banking sector. However, the report also highlighted the need for the sector to adopt more transparent financing policies, advancing sustainability while helping to reduce their exposure to risk. The report, Shaping the Future of Sustainable Finance: Moving the Banking Sector from Promises to Performance, ranked the financing policies of 39 international banks… http://www.banktrack.org/show/news/new_wwf_banktrack_report_shaping_the_future_of_sustainable_finance Thu, 26 Jan 2006 00:00:00 +0100 http://www.banktrack.org/show/news/belgian_bank_groups_invest_in_companies_that_abuse_human_rights AXA, ING, Fortis, Dexia and KBC have invested more than US$ 8 billion (more than €6.6 billion) in companies that are involved in the violations of human rights. That is the conclusion of research from Netwerk Vlaanderen, the results of which are published today. The companies and projects that the banks invest in have been criticised due to practices such as support for dictatorial regimes, forced relocations of population, and forced labour. The report from Netwerk Vlaanderen "Where do you draw… http://www.banktrack.org/show/news/belgian_bank_groups_invest_in_companies_that_abuse_human_rights Wed, 11 Jan 2006 00:00:00 +0100 http://www.banktrack.org/show/news/bankers_and_oil_barons_schmooze_ebrd_president_lemierre_at_davos This week a rogue’s gallery of oil barons and bankers associated with one of the world’s most controversial oil and gas projects, Sakhalin II, will be speaking, schmoozing and boozing at the World Economic Forum in Davos, Switzerland. Some of those coming to the WEF who are complicit in supporting the Sakhalin II project are President of European Bank for Reconstruction and Development (EBRD) Jean Lemierre, Royal Dutch Shell’s Chief Executive Jeroen Van der Veen, Credit Suisse’s Chairman… http://www.banktrack.org/show/news/bankers_and_oil_barons_schmooze_ebrd_president_lemierre_at_davos Sun, 01 Jan 2006 00:00:00 +0100 http://www.banktrack.org/show/news/complaint_filed_with_ing_and_bbva_on_pulp_paper_projects_in_uruguay The Center for Human Rights and Environment (CEDHA) this week filed an unprecedented compliance complaint to the ING group of the Netherlands and BBVA of Spain, for the alleged violation to the Equator Principles of two International Finance Corporation (IFC) paper pulp projects on the Argentine-Uruguayan border. The complaint calls for the banks' attention to the IFC Compliance Advisory Ombudsman’s (CAO) recent report which sustained many of the arguments against the paper mills originally presented… http://www.banktrack.org/show/news/complaint_filed_with_ing_and_bbva_on_pulp_paper_projects_in_uruguay Fri, 16 Dec 2005 00:00:00 +0100 http://www.banktrack.org/show/news/goldman_sachs_addressing_environmental_and_social_issues BankTrack members Rainforest Action Network and Friends of the Earth US today commended Goldman Sachs (NYSE: GS) for being the first global investment bank to adopt a comprehensive environmental policy. The policy acknowledges the scientific consensus on climate change and calls for urgent action by public policy makers and federal regulators to reduce greenhouse gas emissions. The policy is also the first in the financial sector to acknowledge the degradation of global “ecosystems services”… http://www.banktrack.org/show/news/goldman_sachs_addressing_environmental_and_social_issues Tue, 22 Nov 2005 00:00:00 +0100 http://www.banktrack.org/show/news/uruguay_paper_mills_run_into_trouble A new investor briefing by the Center for Human Rights and the Environment (CEDHA) of Argentina and BankTrack warns investors of the risks associated with getting involved in the financing of two paper mills in Uruguay. ENCE of Spain and Botnia of Finland, two of the largest paper pulp producers in the world, are slated to make an investment in  Uruguay of nearly 2 billion US dollars, to create what would be the world’s largest existing pulp production enterprise. According to CEDHA, the two… http://www.banktrack.org/show/news/uruguay_paper_mills_run_into_trouble Mon, 21 Nov 2005 00:00:00 +0100 http://www.banktrack.org/show/news/abn_amro_wins_hypocricy_award ABN AMRO has been awarded the 'Schone Schijn Award' (Hypocricy Award) at a glamorous event organised by Milieudefensie - Friends of the Earth Netherlands (a member of BankTrack). ABN AMRO received the award for being one of the lead banks in financing environmentally and socially disruptive oil and gas projects such as the Chad-Cameroon and the Baku Ceyhan oil pipelines. Milieudefensie singled out the interest expressed by ABN AMRO -and several other Equator banks- to finance the huge Sakhalin… http://www.banktrack.org/show/news/abn_amro_wins_hypocricy_award Sat, 12 Nov 2005 00:00:00 +0100 http://www.banktrack.org/show/news/demining_team_begin_their_work_at_axa Activists from the campaign “My Money. Clear Conscience?” today symbolically demined the headquarters of AXA in Brussels. A landmine clearance team went in search of landmines, cluster munitions and other controversial weapons. This action is needed more than ever, as research from Netwerk Vlaanderen reveals that AXA invests heavily in two new US landmine producers. New landmines in the United States... Last year George W. Bush made a significant change in the direction of the landmine policy… http://www.banktrack.org/show/news/demining_team_begin_their_work_at_axa Tue, 18 Oct 2005 00:00:00 +0200 http://www.banktrack.org/show/news/corporate_reform_campaign_in_us_targets_wells_fargo The Global Finance Campaign of Rainforest Action Network today announced that organizers would begin activating its grassroots network to prepare for a sustained campaign to reform Wells Fargo. Over one hundred environmental and social justice activists launched the effort by marching backwards at noon through San Francisco's financial district to the banks landmark Montgomery Street branch and unfurling a giant third story-banner reading 'Wells Fargo: Lootin' and Pollutin' since 1852'? to draw… http://www.banktrack.org/show/news/corporate_reform_campaign_in_us_targets_wells_fargo Wed, 05 Oct 2005 00:00:00 +0200 http://www.banktrack.org/show/news/activists_to_banks_behave_better_in_the_boreal ForestEthics and Rainforest Action Network sent letters to the chief executives of Canadas biggest banks asking them to cooperate with the environmental community and independent scientists to develop permanent policies that protect endangered forests, prevent climate change and promote human rights. The invitation follows similar ongoing collaborations between Rainforest Action Network and Bank of America, Citigroup and JPMorgan Chase that have resulted in new best practices on the environment… http://www.banktrack.org/show/news/activists_to_banks_behave_better_in_the_boreal Wed, 07 Sep 2005 00:00:00 +0200 http://www.banktrack.org/show/news/insurers_poor_in_assessing_and_disclosing_risks_of_climate_change A new report by Friends of the Earth shows that ’s property and casualty insurers are doing a very poor job in disclosing climate change-related risks in their SEC filings on material risks facing the firms. Only 5 companies out of the 106 surveyed referenced climate change issues in their SEC reporting, despite the growing body of evidence that climate change will produce increasingly intense storms. “A growing number of companies recognize that climate change is a bottom-line issue, and are… http://www.banktrack.org/show/news/insurers_poor_in_assessing_and_disclosing_risks_of_climate_change Wed, 07 Sep 2005 00:00:00 +0200 http://www.banktrack.org/show/news/banks_urged_to_back_off_from_sakhalin_ii Following Shell’s announcement that its Sakhalin II project would cost $20 billion – twice the original estimate – BankTrack on July 19, 2005 sent letters to 25 banks, calling on them not to finance the project. This is the third letter that BankTrack has sent to financial institutions raising environmental and social concerns about Sakhalin II. Shell’s announcement comes at a time when the company is seeking a financing package for Sakhalin II. In April 2005, BankTrack sent dozens of letters… http://www.banktrack.org/show/news/banks_urged_to_back_off_from_sakhalin_ii Wed, 20 Jul 2005 00:00:00 +0200 http://www.banktrack.org/show/news/wells_fargo_defaults_on_environmental_and_social_issues In response to mounting market activism, Wells Fargo, the nation’s fourth largest bank, launched an eleventh hour public relations campaign on Monday to stave off a planned protest at its San Francisco headquarters today. The protest went ahead as scheduled with consumer activists calling for “less PR and more progress” on global warming, endangered ecosystems and human rights. Promoted as a “10-Point Environmental Commitment,” Wells Fargo’s press release had no policy to back it up,… http://www.banktrack.org/show/news/wells_fargo_defaults_on_environmental_and_social_issues Wed, 13 Jul 2005 00:00:00 +0200 http://www.banktrack.org/show/news/one_step_up_challenges_ahead The Equator banks have improved their record in implementing and applying the Equator Principles but their effect on the ground remains unclear, concludes a new BankTrack report on the Equator Principles (EP), a bank-led initiative to establish common environmental and social standards for project finance that was launched two years ago. The report, titled ‘One Step up; not time to pause, The Equator Principles at age two’,  reviews EP banks’ efforts on the implementation and application… http://www.banktrack.org/show/news/one_step_up_challenges_ahead Mon, 06 Jun 2005 00:00:00 +0200 http://www.banktrack.org/show/news/jp_morganchase_joins_efforts_to_curb_global_warming Rainforest Action Network today commended JPMorgan Chase on its adoption of a comprehensive environmental policy to address the challenges of global warming and deforestation and recognize the rights of indigenous nations. The policy sets new best practices on the environment in several critical areas including carbon mitigation and reduction, endangered forest protection, independently certified sustainable forestry as well as land and consultation rights of native communities everywhere. It is… http://www.banktrack.org/show/news/jp_morganchase_joins_efforts_to_curb_global_warming Sun, 24 Apr 2005 00:00:00 +0200 http://www.banktrack.org/show/news/csfb_shamed_for_funding_whale_extinction Led by BANKTrack, the Berne Declaration, Greenpeace Switzerland, Pacific Environment, Platform, Sakhalin Environment Watch and Rainforest Action Network, NGOs are calling on Credit Suisse First Boston (CSFB) to end its relationship as financial advisor to Sakhalin II, the oil and gas mega-project led by Shell. Independent scientists believe this project could push the last 100 western North Pacific gray whales to extinction and the indigenous people of Sachalin are claiming that it threatens their… http://www.banktrack.org/show/news/csfb_shamed_for_funding_whale_extinction Tue, 05 Apr 2005 00:00:00 +0200 http://www.banktrack.org/show/news/ing_partly_disinvest_from_controversial_weapons ING, the largest private financial institution in the Benelux countries, and the 11th largest in the world, has decided to no longer invest in companies producing controversial weapons. The types of weapons excluded by ING are: anti-personnel mines, cluster bombs, depleted uranium weapons, biological, chemical and nuclear weapons. Netwerk Vlaanderen, Forum voor Vredesactie, For Mother Earth and Vrede have been campaigning since 2003 for an end to investments of Belgian banks in the arms trade. Their… http://www.banktrack.org/show/news/ing_partly_disinvest_from_controversial_weapons Tue, 29 Mar 2005 00:00:00 +0200 http://www.banktrack.org/show/news/banktrack_welcomes_unep_fi_plans_to_weed_out_free_riders_ BankTrack warmly welcomed a recent announcement from the United Nations Environment Programme’s Financial Initiative (UNEP FI) to weed out “free riders” -- financial institutions which signed the UNEP Statement by Financial Institutions on the Environment and Sustainable Development (“UNEP Statement”), but have done little to demonstrate their commitment to the values contained therein.In a 24 February 2005 letter to all UNEP FI signatories, new UNEP FI Chairman Martin Hancock (Westpac… http://www.banktrack.org/show/news/banktrack_welcomes_unep_fi_plans_to_weed_out_free_riders_ Mon, 07 Mar 2005 00:00:00 +0100 http://www.banktrack.org/show/news/equator_principles_principles_profits_or_just_pr_ One year after the launch of the Equator Principles (EP), a bank-led initiative to establish common environmental and social standards for project finance, NGOs have released an assessment on the implementation and effectiveness of the Principles so far. A new BankTrack report, titled “Principles, Profits, or Just PR? Triple P investments under the Equator Principles”, examines whether the Principles have promoted a ‘Triple P’ approach to investments, balancing People, Profit and Planet… http://www.banktrack.org/show/news/equator_principles_principles_profits_or_just_pr_ Thu, 03 Jun 2004 00:00:00 +0200 http://www.banktrack.org/show/news/equator_principles_no_u_turn_allowed Non-governmental organisations present at the World Economic Forum, today called upon commercial banks not to back track on their commitment to the Equator Principles (EP). They voiced this concern as EP signatory banks intend to finance the highly controversial Baku-Tbilisi-Ceyhan (BTC) oil pipeline. Since June 2003, nineteen leading banks have signed on to the Equator Principles, committing themselves to apply the social and environmental policies of the IFC, the World Bank's private arm, in all… http://www.banktrack.org/show/news/equator_principles_no_u_turn_allowed Sat, 24 Jan 2004 00:00:00 +0100