Bank moves out of coal: A guide to the latest new banking sector commitments on reducing coal financing
In the run-up to the Paris Climate Summit in December 2015 and since then, various major international banks have begun to abandon the coal sector. Below are the most recent moves – as of November 2018 – from these institutions to exit or reduce finance for the coal mining and/or coal power sectors – we will update this guide as and when more banks make firm commitments on coal. You can find on this page further analysis on these coal policies.
These are all positive steps, although some are better than others. However only a plan to fully phase out finance for the coal sector – both mining and power – is an adequate response to the challenge of climate change, and so far none of the banks in this table have shown enough ambition to reach the requisite standard.
See the list of banks that moved out of coal here: https://www.banktrack.org/campaign/bank_moves_out_of_coal#_
By: banktrack.org
Source: banktrack.org
