In solidarity with Ukraine, a coalition of NGOs and groups around the world are calling on financial institutions with money in Russian oil, gas, and coal to cut all ties with Russian companies, and to stop propping up Putin’s illegal war on Ukraine.
It’s stunning. US banks and investors are responsible for roughly the same amount of emissions as all of Russia. It’s just one shocking finding from a report from the Center for American Progress (CAP) and the Sierra Club studying the carbon footprint of US banks and asset managers.
Below is Reclaim Finance’s response to Natwest’s new coal policy:
NatWest, a sponsor of the COP26 summit and a member of the Net-Zero Banking Alliance, has just announced new measures regarding its support to the coal sector.
The directors of Canada’s top five banks hold more extensive ties to polluting industries than their international counterparts, new analysis by DeSmog shows. This may prove a barrier to taking specific steps to decarbonise their financing, as they have publicly promised.