Two more banks, Italy's Intesa Sanpaolo and the Asian Development Bank (ADB), confirmed they would not finance the planned Papua LNG project!
Italy's Intesa Sanpaolo and the Asian Development Bank (ADB) joined a growing number of banks refusing finance for the planned #PapuaLNG project! 🎉
This oil and gas development led by #TotalEnergies could impact 12,700 Indigenous people and increase pressure on incredibly endangered species.
📢 This complaint marks the first time our Equator Complaints website has been used to submit an official complaint to the #EquatorPrinciples.
We look forward to a constructive response from the Secretariat and Steering Committee. 👀 #PapuaLNG
＜共同プレスリリース＞パプアニューギニア、オーストラリア、日本、ヨーロッパの6団体が、パプアLNGガスプロジェクトにおける三菱UFJ銀行（MUFG）の関与について、世界初のエクエーター原則に基づく異議申立てを行いました。
#papuaLNG #mufg #japan #climate #humanrights
BREAKING: Six organisations from Papua New Guinea, Australia, Japan and Europe have filed the first-ever Equator Principles complaint against #MUFG over #PapuaLNG – a gas project that could affect 12,700+ Indigenous people and threaten ~100 species. #climate #biodiversity #humanrights
The teams of Reclaim Finance, ShareAction and Fuel Poverty Action in front of Barclays' AGM.
We were at #Barclays’ AGM today to ask the bank to stop financing all companies expanding oil and gas production, as well as liquefied natural gas #LNG projects AND companies developing them, starting with TotalEnergies’ #PapuaLNG. ⤵️🧵
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➡️ A noter que ces investissements obligataires, qui lui permettent de financer ses projets climaticides comme #EACOP, #MozambiqueLNG ou #PapuaLNG, ont représenté 73,6% des financements de TotalEnergies entre 2016 et 2024, et ont même été sa seule source de financement en 2024.
“Banks – including Japan’s megabanks, which have remained silent on this matter – must urgently distance themselves from the #PapuaLNG project and disclose their decision.” – Rachel Deans, Market Forces
Italy’s largest banking group Intesa Sanpaolo and the Asian Development Bank have said they will not finance the US$10 billion #PapuaLNG project being developed by France’s TotalEnergies, Australia’s Santos and US-based ExxonMobil.
This project has already been flagged for violating international standards. #PapuaLNG threatens the rights of indigenous communities and endangers one of the world’s most biodiverse regions, home to critically endangered species. #TotalEnergies #Santos #MUFG
Along with 30 NGOs around the world, we’re calling on banks to refuse finance for projects like #PapuaLNG – a massive new gas development that would release 220 million tonnes of CO2 over its project lifespan (or what the entire population of Bangladesh emits in a whole year).
The proposed #PapuaLNG project poses serious social, human rights, environmental, reputational and financial risks.
Together with 30 other NGOs, BankTrack is calling on MUFG and other global banks, to rule out finance for this high-risk gas project.
Background image of Papua New Guinea rainforest. A photo of a protestor holding a sign that says 'MUFG say no to Total Energies and Papua LNG' is superimposed on top. Text reads 'What's at stake with the Papua LNG project: Climate, Biodiversity, Human Rights' with downwards facing thumb icons as dot points. Last paragraph says 'Banks, listen to communities and civil society organisations around the world. Reject Papua LNG.'
The proposed #PapuaLNG project poses serious social, human rights, environmental, reputational and financial risks.
Together with 30 other NGOs, Market Forces has written to MUFG and other global banks, calling on them to rule out finance for this high-risk gas project. #climate
Reports indicate MUFG is the new #PapuaLNG financial advisor. The previous financial advisor Credit Agricole said it won’t finance the project -nor will other French banks. This was a blow to TotalEnergies who leads the project, along with Exxonmobil, Santos & JX Nippon🧵4/5
🇵🇬 PNG has a plan to upscale #RenewableEnergy, it just needs funding. Up to 95% of fossil gas from #PapuaLNG would be exported, most likely to Asia. Yet campaigns such as @DontGasAsia emphasize that people there want cheap, clean energy from renewables - not more #FossilFuels🧵3/5
The letter outlines the serious social, #HumanRights, environmental, reputational & financial risks related to #PapuaLNG project: www.jubileeaustralia.org/news/latest-... 🧵2/5
🚨BREAKING!!!🚨 31 civil society groups on 4 continents just wrote to 31 global banks calling for them not to fund #PapuaLNG. Find out more: jubileeaustralia.org/news/latest-... 🧵1/5
