According to BusinessDay some of the word’s biggest banks are responsible for the majority of carbon-dioxide emissions from the coal sector, says report issued at UN climate change summit The world’s 20 biggest commercial banks are responsible for 75% of emissions from the coal sector, according to a joint study released on the sidelines of the COP-17 climate change negotiations in Durban.
The top "climate killers", as the report dubs them, are JPMorgan Chase, Citi, Bank of America, Morgan Stanley, Barclays, Deutsche Bank, Royal Bank of Scotland, BNP Paribas, Credit Suisse, UBS, Goldman Sachs, Bank of China, Industrial and Commercial Bank of China, Crédit Agricole/Calyon, UniCredit/HVB, China Construction Bank, Mitsubishi UFJ Financial Group, Société Générale, Wells Fargo and HSBC….
Banks’ financing of the coal sector is in sharp contrast to their everyday rhetoric, the report notes, as almost all have committed themselves to combating climate change.
Read more at http://www.businessday.co.za/articles/Content.aspx?id=160192
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