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Deep sea drilling near Guyana one of the biggest oil projects of our time

World Bank providing millions to oil development in Guyana    

Court gave green light to oil companies ExxonMobil, Hess and CNOOC

Urgewald’s director Heffa Schuecking says:

„We are extremely happy to have convinced Crédit Mutuel to take this important step. They are now setting the benchmark for a consistent coal exit. Once again, it is one of the smaller banks that leads the way in terms of efficient climate action. (...)”

Japanese and European banks top lenders, Chinese banks top underwriters

US companies biggest institutional investors in the coal plant pipeline

French global insurer AXA has put European coal companies on notice that they should publish coal phase out plans compatible with the UN Paris clima-te agreement by 2021, announcing today that it will totally phase out its insu-rance and investment exposure to coal by 2030 in the EU and OECD countries, and by 2040 everywhere else.

•    New Study: $1.6 Bn Invested in Fossil Fuels

•    Clear Contradictions to Bank’s Ambitions: "Clean & Green"

•    People from Affected Countries Warn of Harmful Projects
 

The world‘s newest multilateral development bank, the China-led Asia Infrastructure Investment Bank (AIIB) is coming to Luxembourg for its first annual meetings outside of Asia this week Friday and Saturday. In spite of European governments planning for a fossil-free future and holding a 22% share in the AIIB, the bank is not living up to its green promises. New research proves that 20% of the $8 billion the AIIB invested to date has backed fossil fuels - and only 8% renewables.