The European Commission’s ESG commitments for banks and BlackRock: It’s about more than a conflict of interest

 BlackRock Zentrale in Midtown Manhattan, New York City.  | Bild (Ausschnitt): © Americasroof [CC BY-SA 3.0] - Wikipedia

In early 2020, Larry Fink, CEO of BlackRock, the world’s largest and arguably most renowned asset management company, wrote in a letter to CEOs that “every government, company, and shareholder must confront climate change”. Not because it is morally important to do so, but because it is financially savvy. Indeed, “our [BlackRock’s] investment conviction is that sustainability- and climate-integrated portfolios can provide better risk-adjusted returns to investors”.   ... →

Press Release: As-Salaam-Alaikum (Peace be with you): How the war in Yemen is filling the coffers of European banks.

  Bild (Ausschnitt): © n.v.

(22.5.2019) The DIRTY Profits 7 report presented today in Frankfurt / Main by the NGO Facing Finance highlights the ten European banks with some of the highest investments in 11 global arms companies, companies that have since 2015 been exporting to unstable/crisis-affected countries in the MENA region (Middle East and North Africa) and countries involved in the war in Yemen.   ... →

Meat, Methane and Global Warming

The meat industry is heavily responsible for global warming, according to a recent study by the Institute for Agriculture and Trade Policy (IATP) and the environmental organisation Grain. The emissions of the animals in the form of methane, as well as the production of the meat are the key factors  contributing to the massive greenhouse gas emissions from the meat industry.   ... →

Update: Dam Collapse in Brazil: Lawsuit against Executives

Bento Rodrigues, Mariana, Minas Gerais Local: Distrito de Bento Rodrigues, Município de Mariana, Minas Gerais.Foto: Rogério Alves/TV Senado | Bild (Ausschnitt): © Créditos: Rogério Alves/TV Senado (CC BY 2.0) [CC BY 2.0] - Wikipedia

Since the disastrous collapse of the tailings dam in the Brazilian state of Minas Gerais in November 2015 (which FACING FINANCE has reported on several times since the incident) the Brazilian public prosecutor’s office filed homicide charges against 21 executive staff members of the mining companies BHP Billiton (Australia), Vale S.A. (Brazil) and Samarco Mineração, which is a joint-venture between Vale and BHP Billiton.   ... →

Munition as Export Hit: German exports increased tenfold

 Heckler & Koch Sturmgewehr G36, Dirk Vorderstraße, Flickr | Bild (Ausschnitt): © Dirk Vorderstraße [CC BY 2.0] - flickr

According to the Government Report on Military Equipment Exports for the first half of 2016, Germany’s export licenses for small arms ammunition increased tenfold, compared to the same period of the previous year.

The total value of licences issued for the export of small arms ammunition rose from EUR 27 million to EUR 283.8 million, whereas exports of small arms decreased from EUR 12.4   ... →

Swakop uranium: promotion of uranium in “Husab” Mine begins in Namibia

This month the mining company, Swakop Uranium, will start uranium mining in the “Husab” uranium mine located on the west coast of Namibia, as reported by Zheng Keping, the managing director of Swakop Uranium. The company is 90% owned by Taurus Minerals Ltd., a subsidiary of the Chinese state-owned company Guangdong Nuclear Power Company (CGNPC) Uranium Resources Co.   ... →