End financial support for coal


Dear CEO

I’ve just found out that your institution continues to support coal projects or companies that are expanding coal operations in Europe and blocking the world’s transition away from coal. I am very concerned about the health impacts from burning coal, and the serious damage it is doing to our shared climate. It is distressing to know that instead of helping to phase out this damaging business as quickly as possible, you are supporting its continuation.

RWE in Germany and PGE in Poland, two of the companies which your financial institution is still supporting, emitted 111 and 68 tons of CO2 respectively in 2017 and they are estimated to be responsible for 3,060 premature deaths in 2016.

Banks, insurers and investors such as ABN Amro, Swiss Re and Allianz are now blacklisting coal projects and companies like RWE and PGE because of the adverse impacts they continue to have on the climate and public health. By continuing to support these companies and their projects, your financial institution is part of the problem rather than the solution.

I’m therefore asking you to commit to ending all your company’s support to the coal industry, in line with a full coal phase out by 2030 for OECD countries and by 2040 for the rest of the world. This means ending all support for new coal projects, as well as for companies which are expanding their activities in the coal sector or which don’t have a coal phase out plan aligned with the UN Paris Agreement climate goals.


**your signature**

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