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Banks and Climate

RAN is pushing the banking sector to cut financing to new and existing dirty energy projects, such as coal mining and coal fired power, as well as emphasizing the benefits of increasing funding to clean energy projects such as wind and solar. 

These technologies are ready right now to power our lives; all that we lack is the political will to make our clean energy future a reality.

Join our relentless fight to demand that Wall Street act responsibly to keep energy clean for our health and well-being. Keep fossil fuels in the ground, and stop poisoning communities in pursuit of gas, coal and oil.

Banks and Coal

In 2015, pressure from RAN and our allies prompted nine major U.S. and European banks to adopt broad-based commitments to reduce financing for the coal industry. 

This year, we will build on this momentum to push more banks to adopt similar policies and move leaders towards a rapid phase-out of financing for coal mining and power. With the Paris climate conference calling for the world to work towards a 1.5 degree climate target, an immediate halt to all coal infrastructure investment and development is urgently needed.

Human Rights and the Environment

Coal mining and power operations do not only have grave consequences for the climate. Many also violate fundamental human rights. These violations include forced resettlement, contaminating critical drinking water supplies, destroying the livelihoods that support communities, or responding to peaceful protests against environmental damage with violence. Moreover the global climate crisis is evolving into a human rights crisis, with tens of millions of people around the world already facing impacts from drought, storms and rising sea levels.

Banks and Human Rights

Published in 2011, the U.N. Guiding Principles on Business and Human Rights place clear responsibilities on global private banks to develop mechanisms to avoid contributing to human rights violations and to remedy abuses that occur. In light of the ongoing human rights abuses of some mining and power companies that RAN has reported on, banks must move swiftly to meet their basic human rights obligations.