Tag: coal

The votes are in: nearly a quarter of Barclays shareholders defied bank executives over their climate policies at yesterday’s annual meeting.

Barclays chair Nigel Higgins had asked shareholders to vote against a resolution that would commit the bank to phasing out funding for fossil fuels.

A new banking alliance has been established, claiming to set ambitious targets in addressing the climate crisis. Sounds great, right? Yet the Net-Zero Banking Alliance is sadly a wasted opportunity that does nothing to bring big banks closer to ending fossil fuel funding.

In just a few weeks, HSBC shareholders will vote on a climate resolution at the bank’s AGM. If it passes, HSBC will be committed to putting plans in place to end its fossil fuel funding.

Climate strikers were out in force last week for the latest global strike, and Standard Chartered was firmly in their sights.
 
At protests around the world, strikers called out the bank for its continued involvement with fossil fuel companies.

UK banks are still funnelling billions into fossil fuels according to new research, while Barclays and HSBC remain among the worst in the world.

The latest Banking on Climate Chaos report reveals that 60 banks have provided $3.8 trillion to the fossil fuel industry in the last five years.

Wow. HSBC, one of the biggest funders of fossil fuels in the world, has announced plans to set clear deadlines for ending coal financing.

The bank’s board of directors has tabled a resolution for its upcoming AGM to phase out support for coal companies.

A direct message to HSBC investors has appeared in the Financial Times, asking them to back a shareholder resolution which will commit the bank to phase out coal financing.

Activists from around the world have published another impassioned open letter to Standard Chartered’s CEO, Bill Winters, criticising him and the bank for their continued support of coal companies.

A young activist from the Philippines has taken aim at Standard Chartered in a passionate letter about the bank’s continued support for fossil fuel companies. The letter heralds the start of a major campaign on the bank’s role in coal, oil and gas.

“Coal is such a fundamental part of power generation in many developing countries where we operate that we do not think it is the right thing, from a social or economic perspective, to withdraw.”

You’d be forgiven for thinking that these are the words of a hardened coal baron intent on exploiting all possible coal reserves from developing countries.