Guest post by Yann Louvel, Climate and Energy Campaigner, BankTrack.
Private banks are the first to claim to fight climate change - but do they put their money where their mouth is? That’s exactly what we, a group of NGOs (the german Urgewald, the South African's Groundwork, Earth Life and the international network Backtrack decided to look for last year, analyzing the investments of the world’s largest banks in the coal industry, the major culprit in the drama of climate change. And the answer to that question is… NO.
The report which presents the results of the study, Bankrolling Climate Change : A look into the Portfolios of the World’s Largest Banks, was launched last November in Durban during the UN climate negotiations, and the results are outstanding. We examined the portfolios of 93 of the world’s leading banks and looked into their support for 31 major coal-mining companies and 40 producers of coal-fired electricity, the biggest source of man-made CO2 emissions. And...



















