Financial institutions have chaneled $745 billion over the past three years to new coal power projects worldwide despite effort to reduce fossil fuel use to fight climate change, a report released Thursday said.
The amount was calculated using data covering both lending and underwriting between January 2017 and September 2019 for all 258 coal plant developers identified in the Global Coal Exit List, drawn up by the Urgewald and BankTrack groups.
Altogether, the report cites more than 1,000 new coal power stations or units in the pipeline.
“Most of the top banks providing loans or investment banking services to these companies acknowledge the risks of climate change, but their actions are a slap in the face to the Paris Climate Agreement,” said Greig Aitken, climate campaigner at BankTrack.
The top three lenders listed are the Japanese banks Mizuho, Mitsubishi UFJ Financial Group and the Sumitomo Mitsui Banking Corporation.
These are followed by Citigroup and BNP Paribas.
© 2019 AFP
Trump has bigger 2020 re-election problems than impeachment: ‘A target-rich environment for Democrats’
With Donald Trump expected to be acquited by the GOP-majority Senate in an impeachment trial being manipulated by Senate Majority Leader Mitch McConnell, Democrats are setting their sights on the 2020 election where they feel the president is vulnerable on a host of other issues that can be piled on his House impeachment.
According to a report from the Daily Beast, democratic strategists who will be helping direct the 2020 campaign against Trump by the eventual Democratic nominee are licking their chops at the prospect of highlighting the president's poor stewardship of the country.
Will the GOP ‘stand for gaslighting or reality?’: George Conway thumps senate Republicans who refuse to consider Trump’s crimes
Appearing on CNN's "State of the Union," conservative attorney George Conway launched a broadside against Republican senators for their conduct in the impeachment trial of Donald Trump, saying they are selling lies to the public.
Speaking with host Jake Tapper, Conway -- the husband of White House adviser Kellyanne Conway -- painted a withering portrait of the GOP that is hellbent on acquitting the president of obvious impeachable crimes.
"I'm deeply saddened," Conway began. "It is very upsetting and this is a moment of reckoning not just for the country and the rule of law and the constitution, but it is a specific day of reckoning for the Republican senators who took this oath, and the republican party generally, are they going to stand for lies instead of truth?"
Trump issues veiled threat at NPR after Pompeo blow-up with reporter over Ukraine
President Donald Trump issued a veiled threat against National Public Radio on Sunday morning, just days after Secretary of State Mike Pompeo went on an expletive-filled rant at an NPR reporter that she revealed to the public afterward.
On Sunday, the president retweeted Fox News host Mark Levin who argued, "Why does NPR still exist? We have thousands of radio stations in the U.S. Plus Satellite radio. Podcasts. Why are we paying for this big-government, Democrat Party propaganda operation."