Urgewald

🌍 As if Glasgow never happened: banks are still fueling the coal industry At #COP26 in Glasgow, world leaders promised to phase down coal and seemingly put an end to the coal party. But three years later, commercial #banks have done the opposite: they’ve funneled $385 billion into the #coal industry between 2022 and 2024. Our latest findings show that there is no sign of a consistent downward trend. 📈 US banks alone contributed over $51 billion, increasing their coal financing since Glasgow. The top 5 - Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and Jefferies - have all ramped up their support. Jefferies stands out, increasing its coal exposure nearly 400% and becoming a major financier of Adani. 🇪🇺 European banks added $20 billion to coal over the same period. While UBS significantly cut back, Barclays and Deutsche Bank increased their coal financing by 20% and 151% respectively, contradicting their stated climate goals. 🇨🇳 Chinese banks remain the largest coal financiers by far, with $248 billion in coal funding since 2022 - accounting for nearly two-thirds of global coal financing. Their focus is almost exclusively on domestic coal companies. 🇯🇵 Japanese banks provided $21 billion to coal, but unlike the US and Europe, they’re showing a modest downward trend - financing dropped by nearly a third since 2022. Still, major players like Mizuho and Mitsubishi UFJ lack credible coal exit strategies. 🚨 2024 was the hottest year ever recorded: 1.55°C above pre-industrial levels. At least 30% of that temperature rise comes from coal. 👉 The International Energy Agency (#IEA) says coal must go by 2030 in advanved economies - but only 24 of the 99 biggest banks have a plan to get there. Phasing out coal is one of the fastest and simplest ways to cut emissions, yet most banks still ignore this truth. 💣 Financing coal means financing #climate chaos. Every dollar spent on coal is a dollar pushing us closer to irreversible tipping points. If banks are serious about net zero, they must stop supporting the coal industry - now. 📢 It’s time for #investors to hold banks accountable. For #regulators to limit risky financial flows. And for civil society to name and shame institutions still clinging to coal. 📥 Full findings and data: www.stillbankingoncoal.org BankTrack Stand.earth Rainforest Action Network Friends of the Earth Japan ReCommon The Climate Reality Project The Climate Reality Project Europe Attac Österreich

❗Jetzt handeln: Nein zur Finanzierung von Atomkraft durch Weltbank & ADB! Die Weltbank und die Asiatische Entwicklungsbank (ADB) stehen kurz davor, das Verbot zur Finanzierung und Unterstützung von Atomkraftprojekten aufzuheben. Wir erinnern die Präsidenten der Banken, Ajay Banga und Masato Kanda, daran, warum ihre Institutionen Atomkraft bisher abgelehnt haben: ☢️ Risiken der Verbreitung von Atomwaffen ☢️ Erhebliche Sicherheitsbedenken ☢️ Radioaktiver Abfall ☢️ Extrem hohe Kosten Hinzu kommen: ⚠️ schwere Verletzungen der Rechte indigener Völker beim Uranabbau ⚠️ Bau von Atomkraftwerken dauert Jahrzehnte ⚠️ Zentralisierte Energiequelle zu unflexibel für die Stromnetze der Zukunft Entwicklung und Atomkraft schließen sich gegenseitig aus. Eine Kehrtwende zurück in die Vergangenheit könnte die Energiewende in Entwicklungsländern zunichte machen. Wir fordern die Weltbank und die ADB auf, die Finanzierung von Atomkraft nicht zuzulassen. Unterstützt uns dabei mit einer Unterschrift - hier geht's zur Petition: https://chng.it/YgScVj2HQM

🚨 Red Alert: Nuclear Backsliding at Development Banks The Asian Development Bank (ADB) and the World Bank Group are on the brink of a dangerous U-turn: Both institutions are moving to allow nuclear power financing - undoing decades of responsible energy policy. The World Bank already lifted its ban on June 10, paving the way for funding Small Modular Reactors (SMRs) and life extensions for old nuclear plants. Now, the ADB is reviewing its Energy Policy - and all signs point to the same direction. This would be a disaster: ❌ Nuclear is too costly, too risky, and far too slow to address the energy and climate crisis. ✅ Wind and solar are the cheapest, fastest, and safest solutions - especially for low-income countries. Together with 20+ NGOs, urgewald is urging ADB to keep nuclear out of its energy policy (link to open letter in the comments). The future is renewable, not a high-risk technology with unsolved radioactive waste challenges. 👉 Take action now! Sign the petition and tell ADB: Nuclear power is not the path to a livable future. 🔗 https://chng.it/TNDD7QcMTM

Renewable energy insurance is growing – but not fast enough to meet climate goals. According to Insure Our Future’s latest analysis, the global #renewable #insurance market grew by 9% annually since 2020 - reaching $8 billion in premiums by 2024. Meanwhile, fossil fuel insurance shrank by 2% each year. A positive sign? Yes. But it’s still only half of the 18% annual growth required to align with the International Energy Agency’s Net Zero 2030 pathway. Key insights from the report “Renewables Gallop as Fossil Fuels Stall”: ✅ Chinese insurers lead the charge: PICC, Ping An, and Yingda Taihe added over $200 million in new renewable premiums between 2023 and 2024, with PICC alone reaching $485 million. ✅ Europe follows, but more cautiously: Allianz, AXA, and Zurich wrote $141 million in new premiums. Allianz leads in Europe with a total of $390 million. ✅ US insurers risk falling behind: No major US insurer added more than $25 million in renewable premiums last year. Despite this progress, fossil fuel coverage still dominates the market and its decline is too slow for the dimensions of the climate crisis. Few insurers have adopted policies to restrict #LNG expansion – a major climate and insurability risk. Despite mounting evidence of uncertain demand, the gas industry is doubling down on new LNG supply, which could lock in climate risk for decades, and further exacerbate insurability concerns already stressing markets and societies today. Companies like #Allianz and #MunichRe should seize renewable opportunities much more consistently and stop clinging to fossil fuel coverage – or risk a climate-induced market collapse. Read the full briefing here: 👉 https://lnkd.in/dMZdQpgH

Who makes the rules when big funders join forces?   Development banks and climate finance institutions are increasingly working together through joint frameworks. This is meant to make projects faster and more efficient - but it also raises big questions:   ❓ Who is accountable when rules are centralized under one donor? ❓ How do we make sure affected communities still have a voice? ❓ What role should civil society play in shaping these frameworks?   These questions matter because efficiency should never come at the cost of #transparency, #accountability, or #humanrights.   📅 Join us on September 23 + 24 in Berlin for a networking event and workshop hosted by the IKI Independent Complaint Mechanism @ ZUG gGmbH and us. This conference brings together accountability mechanisms from multilateral and bilateral development banks, implementing agencies and civil society to discuss challenges and identify potentials for future innovations. We will dive deeper into: ✔ Current trends in joint frameworks (#WorldBank, ADB, EBRD, EIB, GCF, IKI) ✔ How to handle reprisals and ensure remedy ✔ Practical steps for better cooperation without weakening accountability   ➡ Register here: https://lnkd.in/dUUnHEsw   Let’s make sure that climate and #developmentfinance serves people - not just processes.

The Net-Zero Banking Alliance halts its activities. Now it's time for central banks, bank regulators and oversight agencies to finally step up to the plate. Following the exit of numerous global banks, the #NZBA has announced that it is freezing its activities. When the world is on fire, we need climate action, not climate talk. Voluntary alliances like NZBA did not deliver. Fossil fuel finance needs effective regulation, which would also improve the financial system's resilience. Regulators should start by drawing a clear line at the financing of fossil fuel expansion.

🚨 Join us for an important in-person event on climate & development finance accountability! 🚨 I’m proud to be co-organizing: Cooperation of Accountability and Safeguard Systems in Climate and Development Finance 📅 23 September 2025 🕕 18:00–21:00 📍 ZUG gGmbH, Stresemannstraße 68-70, Berlin As MDBs and funders like the IKI increasingly align their frameworks, we must ask: ➡️ What happens to accountability, transparency, and community rights? ➡️ Do safeguard systems remain accessible and effective? This event brings together experts, practitioners, and civil society voices to explore how we can ensure development cooperation stays fair, inclusive, and rights-based. 💬 Expect critical insights, new connections, and open dialogue (under Chatham House Rules). 🔁 Please share widely & bring your networks – we’re looking forward to a powerful discussion! Event details here: https://lnkd.in/gPTsrxUi Register here: https://lnkd.in/ggCmU3-Q #ClimateFinance #DevelopmentFinance #Accountability #Safeguards #CivilSociety #MDBs #IKI #BerlinEvents #ClimateJustice Urgewald IKI Independent Complaint Mechanism @ ZUG gGmbH Independent Accountability Mechanisms network (IAMnet) Urgewald

Grüne Imagekampagnen nach außen - fossiles Lobbying hinter den Kulissen: Was Siemens Energy wirklich antreibt Nach außen präsentiert sich #SiemensEnergy als Partner der Energiewende. Doch unser neuer Bericht deckt auf: Hinter den Kulissen betreibt der Konzern intensive #Lobbyarbeit, um das fossile Gasgeschäft zu sichern – auf Kosten des Klimas. 💼 Lobby-Realität: ▪️ Bereits zu Beginn der neuen Legislaturperiode trafen sich Vertreter*innen von Siemens Energy mit der Leitungsebene des Bundesministeriums für #Wirtschaft und #Energie – um „gas- und kraftwerksbezogene Themen“ zu besprechen. Details? Nicht öffentlich. ▪️ Siemens Energy fordert im Bundestag und Lobbyregister, dass keine strikten Klimaauflagen für Gaskraftwerke gelten sollen – und dass alle Wasserstofffarben, inklusive klimaschädlichem blauen Wasserstoff, zugelassen werden. ▪️ Bei Exporten plädiert der Konzern für staatliche Kreditgarantien auch für Gaskraftwerke - selbst wenn dies neue fossile Abhängigkeiten schafft. 🌍 Warum Gas schlecht fürs Klima ist: 🔺 Gas ist dreckig - entlang der Lieferkette entweicht Methan, ein Treibhausgas, das in den ersten 20 Jahren über 80-mal klimaschädlicher ist als CO2. 🔺 Neue Gaskraftwerke bedeuten einen fossilen Lock-in: Mit einer Lebensdauer von bis zu 40 Jahren blockieren sie den schnellen Umstieg auf 100 % Erneuerbare. 🔺 Der Umstieg auf grünen Wasserstoff in Kraftwerken ist frühestens in den 2040er Jahren realistisch - viel zu spät für die 1,5-Grad-Grenze. 📢 Unsere Forderung: Siemens Energy muss den Ausstieg aus dem fossilen Gasgeschäft einleiten - und die Bundesregierung klare Regeln setzen: Kein Neubau ohne verbindlichen Umrüstungsplan und Ausstieg aus fossilem Gas bis 2035. 🔎 Details in unserem neuen Bericht (Link in den Kommentaren).