European financial institutions and international investors and banks including BlackRock and the Japanese megabanks are keeping Europe’s terminally declining coal industry on life support, handing companies €12 billion in investment, and €9.8 billion in loans and underwriting in less than 1.5 years, according to a new report.
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Updated for 2020, Fool’s Gold - The financial institutions risking our renewable energy future with coal examines eight European, and four significant international, financial institutions, and finds that all continued to pump money into coal companies in the year after the IPCC released its 1.5 degrees C special report.
ČEZ Czech energy company has broadly outlined its own coal phase-out dates as the trajectory of coal exclusion policies is trending in a positive direction.
The Czech Republic’s coal commission will join state-owned energy company ČEZ tomorrow to hold a ceremony marking the closure of the Prunerov I coal plant.
The future of coal has darkened considerably with energy company PKN ORLEN announcing that it will not invest in Ostrołęka C as a coal-fired project.
Polish state-owned energy company PGE has omitted the Gubin coal mine project from its latest financial report, confirming in this way that it has been shelved.
UK bank Barclays has bypassed an opportunity to put right its weak fossil fuel policy with the release of its new environmental report.
This 2019 report takes a close look at eight European financial institutions with the most significant ties to the eight most polluting utilities in Europe.
The bank UniCredit is one of the last ones in the EU that is still involved in providing loans to many European energy companies that mine or burn coal.