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Overnight we published this ad about @DeutscheBank’s #coal funding in @DIEZEIT, one of Germany’s most read newspapers. Deutsche Bank must not arrange finance for Whitehaven Coal, a company that is planning THREE new or expanded coal mines. #Thread 🧵
Deutsche Bank claims to support the #ParisAgreement and #NetZero2050. Last year the @IEA concluded that #NetZero2050 means “no new coal mines or mine extensions”. More recently, the @IPCC warned yet again that limiting global warming to 1.5ºC means urgently phasing out coal.
Since 2013, Deutsche Bank has loaned to Whitehaven Coal, the largest #pureplay coal mining corporation listed on the #ASX. In February 2020, Deutsche Bank was part of a group of banks that loaned a combined $1 billion to Whitehaven.
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