Withdraw From Coal: Coal Divestment Criteria and Scorecard
Is your bank funding the climate crisis by funding coal? From 2009 to 2019, 15 Philippine banks were identified to have directly channeled at least 12.63 billion USD to coal-fired power plant projects and coal developer companies.
The use of coal, the dirtiest of all fossil fuels, is not only the single biggest source of emissions which induce the worsening climate crisis, it is also the cause of suffering of many communities affected by air, water, and land pollution from coal operations.
On May 28, the Withdraw From Coal Campaign launched its Coal ​Divestment Criteria and Scorecard, a coal exposure and policy assessment tool which seeks to aid Philippine banks rethink their coal financing activities and assess the risks involved in such.
The initiative was launched in a webinar which brought together experts, civil society and faith-based organizations, and media for a learning session on coal financing in the Philippines and the divestment movement.
Watch the insightful discussion, led by CEED Executive Director Gerry Arances, Bishop Gerardo Alminaza of the Diocese of San Carlos, Energy Collaboratory Director Tony La Vina of the Manila Observatory, and Bro. Daryl Jusay, Co-Treasurer of the Association of Major Religious Superiors of the Philippines, in the video below.
RESOURCES:
Presentation – The Climate Crisis and Coal Divestment – Bishop Gerardo Alminaza
Presentation – Withdraw From Coal Divestment Criteria and Scorecard – Gerry Arances, Executive Director of CEED
Read the Coal Divestment Criteria Briefer:
WFC-CDCB-060920Updated June 2020.