We are calling on financial institutions to demand that utilities develop socially responsible plans for phasing out coal by 2030, the latest.
European financial institutions and international investors and banks including BlackRock and the Japanese megabanks are keeping Europe’s terminally declining coal industry on life support, handing companies €12 billion in investment, and €9.8 billion in loans and underwriting in less than 1.5 years, according to a new report.
Updated for 2020, Fool’s Gold - The financial institutions risking our renewable energy future with coal examines eight European, and four significant international, financial institutions, and finds that all continued to pump money into coal companies in the year after the IPCC released its 1.5 degrees C special report.
The COVID-19 pandemic has had great impacts on all aspects of society, in the energy industry, the economic shutdown has led to reductions in CO2 emissions.
This report finds that Fortum is taking on responsibility for coal plants that caused about premature deaths and spent millions in health costs in 2016.
This 2019 report takes a close look at eight European financial institutions with the most significant ties to the eight most polluting utilities in Europe.
The bank UniCredit is one of the last ones in the EU that is still involved in providing loans to many European energy companies that mine or burn coal.
The principles in this briefing are intended to guide financial institutions and to align portfolios with the UN Paris Climate Agreement.
How financial institutions are phasing-out support to European coal utilities. The key power utilities in Europe that need an urgent transformation.