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Deutsche Bank Blacklists Mountaintop Removal Companies
At Deutsche Bank’s shareholder meeting last week, the bank announced an end to its support formountaintop removal mining. In his speech, the bank’s outgoing CEO, Juergen Fitschen, said: “Using explosives to destroy the summits of mountains does not seem to us to be a legitimate or ecologically sensible manner of surface mining. For this reason, […]
Royal Bank of Scotland Rules Out Financing Major Coal Port Expansion
In yet another sign of major international banks’ growing unwillingness to fund coal terminal projects that threaten the iconic Great Barrier Reef, Royal Bank of Scotland last night joined Deutsche Bank and HSBC in publicly ruling out financing of the controversial Abbot Point coal terminal near Bowen, Queensland. The terminal will export coal from the […]
“Sustainable” badge for Bank of America stretches credibility of Dow Jones Sustainability Index
S&P Dow Jones Indexes and RobecoSAM have revealed that Bank of America is to be added to its long-running Dow Jones Sustainability Indices (DJSI), a major reference point for sustainable investors. The move comes just as campaigners around the world are urging the bank to rethink its decision to underwrite a major share offer for […]
New Resource Bank Releases First Sustainability Report
New Resource Bank (OTCBB: NWBN) is pleased to announce its 2013 sustainability report, Banking for the World We Want. The report, the bank’s first, covers 2012 data. It is available online here, and in print by request. “New Resource’s approach to banking is built on the belief that the money in our community can support […]
RBS sustainability report shows deliberate manipulation of truth by the state-owned bank
Commenting on an RBS sustainability report published last week (10th April 2013), Paul Daly, Corporate Accountability Campaigner, Friends of the Earth Scotland, said: “One third of RBS energy lending still goes to climate-trashing projects. The report looks solely at project funding, which excludes loans to companies involved in tar sands, or corporations who get coal […]
Raising public awareness and build NGOs’ capacity in China
The forum was held at the International Conference Hall of Tian Yu Hotel in Tianjin, China. Over 70 participants attended the forum, including representatives from local and International NGOs, green businesses, prestigious universities, Ministry of Environmental Protection, China Industrial Bank and several media. In the morning session, four speeches were given by the guest speakers. […]
UPDATE 4-BTG’s Esteves, Agnelli team up on new Brazil miner
* BTG Pactual, AGN to spend $520 mln in mining venture * Former Vale CEO Agnelli sees resilient mining sector * Venture B&A allows BTG to enter metals, ore industry * Seeks acquisitions amid price drop in mining assets Two of Brazil’s most prominent dealmakers have joined forces to create a $520 million mining venture, […]
Santander profit hit by bad Spanish property loans
Profits at Spanish banking giant Santander have halved after it made more write-downs against unrecoverable loans secured against property. The bank, which is the eurozone’s biggest, said first-half profits halved to 1.7bn euros ($2.6bn; £1.3bn) in the six months to the end of June. Write-offs for Spanish property loans were 2.8bn euros. It has written […]
Barclays Libor scandal: how can we change banking culture?
They’ve taken hundreds of billions of taxpayers’ money in bailouts – and still they can’t resist ripping us off. What – if anything – can be done about it? We don’t know each other, but I want to offer you a deal: You each give me £20,000. And that’s it. What do you get in […]
Barclays: Cameron says bank faces ‘serious questions’
Prime Minister David Cameron has said that Barclays Bank management has “serious questions” to answer over how it manipulated banking lending rates. Barclays was fined £290m ($450m) after an investigation into claims that several banks manipulated the Libor rate at which they lend to each other. The Chancellor George Osborne confirmed that HSBC, RBS, Citigroup […]
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