Investment Banking

Banks have ploughed billions into Europe’s coal market despite green pledges, finds report

Protesters target Barclays branch in Piccadilly in response to the report

The RWE Weisweiler coal-fired power station in Schophoven, Germany.
The RWE Weisweiler coal-fired power station in Schophoven, Germany. Photo: Lukas Schulze/Getty Images

A group of European banks are keeping coal companies afloat by channelling €8bn into the sector, a climate change lobby group has found.

UniCredit, BNP Paribas, Barclays and Societe Generale were all singled out in a new report unveiling investments in eight coal companies, which together contribute half of all Europe’s coal-based CO emissions.

WSJ Logo
JPMorgan Is Revamping Its Bank for the Superrich to Cater to Global ClienteleExternal link

JPMorgan Is Revamping Its Bank for the Superrich to Cater to Global Clientele