A DFREE CITIES C ONFERENCE 2020 Henrieke Butijn, Climate Campaigner - - PowerPoint PPT Presentation

BANKS AND CLIMATE CHAOS

ADFREE CITIES CONFERENCE 2020

Henrieke Butijn, Climate Campaigner at BankTrack henrieke@banktrack.org

INTRODUCING BANKTRACK

• Civil society watchdog on private sector

(commercial) banks

• Founded in 2003
• Find us at BankTrack.org!

Our mission is to stop banks from financing harmful business activities; to promote a banking sector that respects human rights and contributes to just societies and a healthy planet; and, to support fellow civil society

• rganisations in their engagement with banks

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ACTIVITIES

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THE CLIMATE CRISIS

• The Climate Crisis is here
• The only solution: limiting global warming to 1.5 °C
• How? Global emissions need to be more than

halved in 2030 compared to 2010 levels, and reduced to effectively zero in 2050

• Most CO2 emissions comes from burning of fossil

fuels.

• Limiting global warming to 1.5°C (and phasing out

fossil fuels) is a matter of justice and the protection

• f human rights.

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THE ROLE OF BANKS

• Banks finance the fossil fuel industry, through:
• Project finance
• Corporate loans
• Underwriting of bonds and shares
• Asset management
• Banks finance fossil fuel sectors A LOT

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HSBC: A SUSTAINABLE BANK?

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POLL

How much has HSBC funneled into the fossil fuel industry from 2016-2019?

• USD 1 billion
• Between USD 1 billion and USD 15 billion
• Over USD 15 billion

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HSBC FOSSIL FINANCING

• Financing fossil fuels USD 86.5 billion in 2016-2019.

USD 33.4 billion to fossil fuel expansion

• 2nd biggest fossil fuel bank in Europe

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POLL

Which extreme/unconventional fossil fuel sector received finance from HSBC between 2016 and 2019?

• Arctic oil and gas
• Coal mining
• Tar sands

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UNCONVENTIONAL FOSSIL FUEL FINANCING

• No. 9 tar sands financiers: USD 2.6 bn since Paris
• No. 10 financier of Arctic oil & gas: USD 900 m since

Paris

• No. 5 financier Offshore oil and gas: USD 13.7 bn

since paris

• No. 15 financier Coal power: USD 3 bn since Paris

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FOSSIL FUEL POLICY

Pledged to reduce financed emissions from portfolio of customers to net zero by 2050 ฀BUT฀

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HUMAN RIGHTS POLICY

• Human rights policy does not extend to all its financial services
• No evidence of a process of meaningful consultation with potentially

affected groups

• No evidence of a process for assessing the bank’s relationship to an

impact

• No grievance mechanism, no commitment to remediate human rights

impacts identified by the bank

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COMMUNITIES FIGHT BACK

Payra Port Vaca Muerta Keystone XL

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QUESTIONS?

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