Leading responsible banks pledge to quit coal as climate summit approaches (Pressrelease BankTrack)

Co-operative Bank and Triodos Bank bring Paris Pledge signatories to 18

19 November 2015, Nijmegen

Today the UK’s Co-operative Bank and Netherlands-based Triodos Bank became the latest banks to confirm they will continue to steer clear of providing finance for coal mining and coal power, by signing BankTrack’s Paris Pledge. [1]   First signed by six banks in early September, today’s commitment from two of Europe’s leading responsible banks brings the total number of Paris Pledge signatories to 18, from ten countries around the world.   ... →

Münster to divest from fossil fuels.

Münster is the first German city to decide to withdraw public funds from climate-damaging industries. The financial and Main Committee of the City Council decided in a result of  4:11. that two municipal funds were no longer allowed to invest in the gas, oil and coal industry from 2016. The request came from the Green party and the SPD .   ... →

New report: Fossil fuels receiving over 9 times more finance than renewable energy

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The world’s 25 largest private sector banks channelled at least USD 931 billion into fossil fuel companies in the period 2009-2014, according to a new report launched today by Fair Finance Guide and BankTrack, while over the same period the banks’ financing of renewable energy totalled USD 98 billion.

Alexandre Naulot, spokesperson at Fair Finance Guide International, said: “This analysis, the first international study to compare private sector bank financing of fossil fuels and renewable energy, identifies the alarming priority that banks have been giving to dirty energy over clean energy since 2009, the year of the Copenhagen climate summit.   ... →

West bank: Norwegian Fund excludes further companies, including Heidelberg cement

The Norwegian insurance company KLP has excluded the company HeidelbergCement (Germany) and Cemex (Mexico) from its investment portfolio. This is due to the illegal exploitation of non-renewable resources in the occupied Palestinian territories. The subsidiaries of HeidelbergCement and Cemex in Israel, Hanson Israel and RMC Group,  are two of the 11 companies that operate quarries in the area of the West Bank.   ... →

Norway ends investment in Coal Companies

Norway’s parliament has voted that the Norwegian Government Pension Funds should sell its shares in the coal industry, in both mining and utility. The world’s largest sovereign wealth fund is one of the top ten investors Coal. By 2016, all companies  which gain more than 30 percent of their income or electricity through coal production will be excluded from the fund((Http://www.ipe.com/news/esg/norways-oil-fund-to-sell-all-remaining-coal-stocks/10008186.fullarticle   ... →

Storebrand: Fossil Fuel Firms are “Financially Worthless”

Storebrand, a Norwegian Pension fund, has decided to pull out of fossil fuels following Carbon Tracker’s latest report, Unburnable Carbon 2013. Christine Tørklep Meisingset, Storebrand’s head of sustainable investment, was quoted from her press release on the blue&green tomorrow website as saying “these resources are worthless financially…they do not contribute to sustainable development in the extent and the pace we want.”   ... →