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.
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.
One week after the managing director of the Russian NGO Ecodefense applied for political asylum in Germany, 45 NGOs worldwide declare their solidarity with the environmental organisation, including urgewald, Bürgerinitiative Umweltschutz Lüchow-Dannenberg, Greenpeace, WWF Germany, 350.org and Friends of the Earth USA.