Tagged: banks

banks

One day after a hoax impersonation shamed Mizuho and other banks for financing new coal power plants against their own industry standards, the real Mizuho announced that they plan to limit their coal-financing policies in the future. Sadly, that real resolution isn't more binding than the fake one.

Despite some banks announcing moves to limit coal finance, Japan's major commercial banks still enable new coal power plants to be built and operated in countries most vulnerable to their social and environmental impacts, including Indonesia and Vietnam, among others.

Read our draft of the Equator Principles 4 and press releases here.

Read the "coming clean" press release here.

Interested stakeholders (i.e. concerned earthlings) should submit feedback for the real EP4, encouraging them to add effective grievance mechanisms, increase transparency, and build in consequences for members like Mizuho, MUFG, and SMBC who break their own industry-standard rules.

For more information and to take action:

Equator Banks Act

No Coal Japan

350.org

Divest Invest Protect

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Executives, investors, and opponents alike reacted with surprise to the news that Bank of America, realizing it was heading for a taxpayer bailout, was asking Americans to start thinking about what they'll do with the bank once they own it, and to start advertising that vision too.

 

Selected press:

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Money is not the only thing that hides in Switzerland!

During the First World War, Zurich became a magnet for a bunch of anarchic folks who were rebelling against the 'rationality' that created the war and the economic fatalism that we are still dealing with today. They drank their absinthe at the Cabaret Voltaire, which after a hiatus for the better part of a century was re-established in the original Zurich site. The Yes Lab was invited to visit the Cabaret Voltaire for a Dada blessing, and we were delighted to find that the good folks at the Cabaret, with the help of an outfit called "Knobotiq" had brought together all the ingredients needed for a readymade protest.

We just combined Occupy Zurich, Reverend Billy and Voina, added a host of other n’er-do-wells, mixed it all up with some beautiful urban camo gear, and inserted the concoction into a local bank, where it simmered for the next 20 minutes.

The local bank in this case is among the world’s largest: UBS is a financial services giant renowned for aiding tax evaders, funding environmental destruction, and getting bailed out by the public.

Watch the video, and see if you can spot the activists despite the amazing camouflage of the legendary MacGhillie suits.  Expect more from these in the future

 

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