Energy companies in the US are currently considering the expansion of electricity generation from coal, as an alternative to dependence on foreign oil supplies. However, three large players on the US financial markets, namely Citigroup, JP Morgan and Morgan Stanley are no longer so eager to invest in coal-fired power stations. They expect the US to take measures against the pollution caused by this form of electricty generation, which will lead to a considerable increase in the price. The banks have formulated the Carbon Principles as a set of guidelines that will help advisors and financiers to evaluate the climate risks associated with decisions on the financing of electricity generation.

New report reveals alarming investment practices by financial groups
Today, the financial watchdog Netwerk Vlaanderen launches the report ‘Bank Secrets’. The dossier details the investments by 12 financial groups in companies violating fundamental human rights. The investors channel money to 13 companies selling weapons to dictators, denying people access to land and clean water, co-operating with armed rebel groups and being involved in forced relocations and heavy and irreversible pollution.