THREAD: Urgewald & partners just published an analysis of the financiers & investors behind the *entire* coal industry for the 1st time.
One of the shocking results:
Banks provide more money to coal than in 2016🤯
Read the full analysis: coalexit.org/finance-data
#EndCoalFinance
One of the shocking results:
Banks provide more money to coal than in 2016🤯
Read the full analysis: coalexit.org/finance-data
#EndCoalFinance
Banks provided $US 543 billion to the coal industry in 2019, likely at least as much in 2020. A sobering reality check on banks’ climate commitments.
The vast majority of banks’ coal exclusion policies have too many loopholes for their impact to be meaningful.
The vast majority of banks’ coal exclusion policies have too many loopholes for their impact to be meaningful.
US investors account for 58% of the global coal industry, holding bonds & shares worth $602 billion!
@JoeBiden must address #WallStreet as a huge driver of climate pollution. Its massive investments in the coal industry are driving us ever deeper into a climate crisis.
@JoeBiden must address #WallStreet as a huge driver of climate pollution. Its massive investments in the coal industry are driving us ever deeper into a climate crisis.
While large EU investors have begun screening coal companies out of their portfolios, the vast majority of US investors have refused to do so.
@Vanguard_Group & @blackrock have a massive #climateproblem - they account for 17% of investments in the coal industry!
@Vanguard_Group & @blackrock have a massive #climateproblem - they account for 17% of investments in the coal industry!
US investors are turning a blind eye to the climate crisis. Their money is keeping the dead man coal walking.
Japanese investors come in 2nd place in the ranking of coal financiers.
UK makes 3rd place - not a good look for the #COP26 host!
Japanese investors come in 2nd place in the ranking of coal financiers.
UK makes 3rd place - not a good look for the #COP26 host!
The coal policies adopted by Japanese banks are among the weakest in the world. They even allow financing of companies that plan new coal power plants.
Japan’s banks must stop pouring fuel on the fire!
Japan’s banks must stop pouring fuel on the fire!
427 banks channeled over US$ 808 billion to companies on the #GlobalCoalExitList.
The Big 5 are all Chinese banks. They funneled US$ 146 billion to the coal industry over the past 2 years. China plans 247 GW of new coal plants.
#EndCoalFinance before it ends us!
The Big 5 are all Chinese banks. They funneled US$ 146 billion to the coal industry over the past 2 years. China plans 247 GW of new coal plants.
#EndCoalFinance before it ends us!
Coal power is dying - but US investors are providing a lifeline.
Despite Larry Fink's “sustainable commitments”, @blackrock is still the 2nd largest investor in the coal industry. Only @Vanguard_Group’s exposure to coal is bigger.
Despite Larry Fink's “sustainable commitments”, @blackrock is still the 2nd largest investor in the coal industry. Only @Vanguard_Group’s exposure to coal is bigger.
US investor @Vanguard_Group is really acting as a vanguard...into the climate crisis! No one pours more fuel on the fire.
If we do not move financiers like Vanguard to exit coal soon, they will propel us into a future where the Paris climate goals are no longer within reach.
If we do not move financiers like Vanguard to exit coal soon, they will propel us into a future where the Paris climate goals are no longer within reach.
Over a year ago, Larry Fink promised that @blackrock would put sustainability at the center of its business. How come BlackRock still holds $84bn in the coal industry. 🤓
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