Tag Archives: Banks

In the five years since the Paris Agreement was adopted, 60 of the world’s largest banks have pumped over $3.8 trillion into the fossil fuel industry. JPMorgan Chase is said to be one of the largest funders of fossil fuels around the world The disclosure was made in a report, titled “Banking on Climate Chaos 2021” released on Wednesday, March 24, ...

Some 263 community and not-for-profit organisations from around the world on Monday, March 1, 2021 urged the CEOs of 25 banks not to participate in loans to fund the construction of the world’s longest heated crude oil pipeline. Total is participating in the controversial East Africa Crude Oil Pipeline (EACOP), in partnership with Tullow Oil and China National Offshore Oil ...

Justice Chuka Obiozor of the Federal High Court, Lagos on Wednesday, July 19, 2017 ordered seven commercial banks in the country to temporarily remit a total of $793,200,000 to the Federal Government (FG). The funds were allegedly hidden with the banks in contravention of the Federal Government’s policy on lodgment of funds into the Treasury Single Account (TSA). The judge ...

Together with the UN Environment Finance Initiative (UNEP FI), 11 of the world’s leading banks announced on Tuesday, July 11, 2017 a commitment to develop analytical tools and indicators to strengthen their assessment and disclosure of climate-related risks and opportunities. Following the publication last month of the final recommendations by the Financial Stability Board’s (FSB) Task Force on Climate-Related Financial ...

Nearly 20 leading global banks and investors, totaling $6.6 trillion in assets, on Monday, 30 January 2017 in Paris, France launched the Principles for Positive Impact Finance – a first-of-its-kind set of criteria for investments to be considered sustainable. “The Principles are a timely initiative from the finance sector. They demonstrate the willingness of financial institutions to go beyond current ...