130 Banks Just Launched the Principles for Responsible Banking: Will Banks Finally Change for the Better?

130 banks including Citi and MUFG (parent of Union Bank) just committed to align their financing with the Paris Climate Agreement and the Sustainable Development Goals. Wow. Does that mean they are going to totally transform their financing for the better and stop financing deforestation, fossil fuels, and human rights violations? If not, this is going to be just one more greenwashing exercise…

Action in front of the BNP Paribas New York branch where the Principles for Responsible Banking sessions were held (September 23, 2019)

Gizmodo: Your Favorite Snacks May Be Driving Deforestation in Ancient Indonesian Peatlands

“The fact that it takes an NGO-conducted investigation to expose that these major global brands are still actively sourcing Conflict Palm Oil from illegal sources, years after each of them has issued public policies explicitly committing them to stop sourcing from suppliers destroying rainforests and carbon-rich peatlands, signals a major failure of the implementation efforts conducted to date by these companies. Consumer trust is understandably undermined when…”