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Dirty fuel, dirty money

Source: Lee Williams, Contributoria

Despite their pledges to fight climate change, banks are still investing in fossil fuel extraction

Imagine the scenario. You are a committed eco-warrior. You save water, turn off your lights, cycle or use public transport whenever possible; you boycott companies and products that harm the environment; you’ve even cut down drastically on meat and dairy products, all to do your bit for the planet. Then one day you discover that, against your knowledge, you are directly funding climate change. How on earth could that be, you might be forgiven for asking?

European banks slammed for backing coal industry

Source: Probir K Sarker, Dhaka Tribune

'Banking on Coal – Undermining our Climate' will be released on Friday during the UN Climate Summit at Warsaw

Two Polish private banks – Bank Gospodarstwa Krajowego and PKO Bank Polski – have been identified to be on the dirty list of banks that are heating up the globe, damaging the environment and hurting local communities, a new report says.

Campaign asks UniCredit to 'get out of coal'

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Pressure is growing not only on international financial institutions but also on private banks to stop financing fossil fuels.


Yet another bail-out package? A comeback to 'The Vienna Initiative and financial stability in emerging Europe'

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The European Bank for Reconstruction and Development promotes the support for western European banks in central and eastern Europe although evidence for this initiative's success is disputable at best.


Deja vu for Vienna II – a sustainable recovery is needed for the CEE financial sector

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As pressures mount on western European banks to shore up capital ratios and with 2012 economic growth forecasts for Europe falling close to zero, officials from the European Central Bank, the European Commission, and several international financial institutions (IFIs) are meeting today in Vienna with regulators from CEE countries to discuss a second round of financial support for a fragile CEE banking sector.


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