Bankrolling the World

Since 2005, the UK’s high street banks have poured at least £12 billion into coal mining. Much of this is ordinary people’s money. Stop By nancing this dirty industry, banks are complicit in pushing people off their land and destroying communities around bankrolling the world. Coal is extracted and exported for use elsewhere, while many of the affected communities are among the 1.3 billion people who have no access to electricity. coal Join with WDM in calling for banks to get out of coal. The facts: UK banks and coal mining 2005-2012 £4.0bn £3.1bn £2.1bn £1.9bn £900m RBS and NatWest: Barclays: HSBC: Standard Chartered: Lloyds Banking Group: Glencore Xstrata*, South Africa Bumi Resources, Indonesia Drummond, Colombia Borneo Lumbung, Indonesia Cerrejón, Colombia The RBS Group (including NatWest), is the Barclays has long been a target of public HSBC is the UK’s biggest bank and one of Standard Chartered is descended from the A large part of Lloyds Banking Group (inlcuding biggest fi nancier of coal mining in the UK. anger for its lack of ethics, from links to the top three banks in the world. It was ‘Chartered Bank of India, Australia and China’ Halifax and Bank of Scotland) is owned by the After the fi nancial crisis of 2008, RBS was Apartheid South Africa in the 1980s to the established in 1865 as the Hong Kong and and the ‘Standard Bank of British South UK taxpayer. Despite being smaller than the 84 per cent nationalised as part of the bank recent rate fi xing scandal. Shanghai Banking Corporation. As the Africa’. It does most of its business in Asia and other major players in UK banking, Lloyds is still bailouts. But the bank fails to act in the Barclays is also the UK high street bank name suggests, HSBC has a long legacy as a Africa where it proudly continues its colonial a big funder of fossil fuel companies, including public interest. most closely involved with the disgraced colonial bank, promoting the interests of the tradition. It pumps money into dodgy fossil those behind Colombia’s Cerrejón mine. RBS has fi nanced global mining corporation coal mining company Bumi Resources. British Empire in its trade with China. Now fuel companies, involved in destructive Cerrejón is internationally renowned for Glencore Xstrata, a major player in South This controversial mining giant is mired in the bank is involved with stripping the coal, projects at the expense of local people. environmental destruction and human rights Africa’s coal industry. The company is fi nancial scandals. It has destroyed vast oil and gas reserves of countries around the Standard Chartered Bank has loaned over abuses. The mine was constructed on the responsible for using vast quantities of areas of Indonesian rainforest and displaced world to benefi t big business. £600 million to Borneo Lumbung, a company ancestral lands of the indigenous Wayúu precious water and polluting water supplies communities in East Kalimantan. One It fi nances American mining company responsible for destructive projects in the people and has led to extensive evictions at sites like the iMpunzi mine in the indigenous community has been forcibly Drummond, which has had a devastating rainforests of central Kalimantan in Indonesia. and entire villages being wiped off the map. Mpumalanga province. relocated on three separate occasions as a impact on people in Colombia and has also Its mining waste has polluted water supplies Since 2009 the companies behind Cerrejón *Since 2009 Glencore-Xstrata has also been backed by result of the mining. been fi ned for spilling huge quantities of coal to the extent that communities can no have also been backed by Barclays, HSBC, Barclays, HSBC, Lloyds Banking Group and Standard Chartered. into the sea. longer drink the local water. RBS and Standard Chartered. WDM’s climate and energy campaign A handful of corporations mine and burn so many fossil fuels that we are facing runaway climate change. Meanwhile 1.3 billion people lack access to electricity. Together with social movements around the world, WDM campaigners and supporters are demanding an end to the corporate control of energy, beginning with an immediate end to British banks nancing coal mining. Take action at www.wdm.org.uk World Development Movement 66 Offl ey Road London SW9 0LS Tel 020 7820 4900 www.wdm.org.uk .

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