"We welcome Standard Chartered’s decision to stop financing new coal-fired power plants and hope that it will exert pressure on other banks, such as HSBC, to follow suit.
"The week before the IPCC will be delivering its report on the importance of limiting global warming to 1.5ºC, Standard Chartered’s decision will go some way towards reinforcing the message that to avoid the worst impacts of climate change, coal can no longer be part of the energy mix.
"We will continue to call on others to commit to similarly climate-appropriate policies and keep fossil fuels in the ground, as part of our Big Shift campaign.”
Notes to editors:
1. Christian Aid works in some of the world’s poorest communities in around 40 countries at any one time. We are where there is great need, regardless of religion, helping people to live a full life, free from poverty. We provide urgent, practical and effective assistance in tackling the root causes of poverty as well as its effects.
2. Christian Aid’s core belief is that the world can and must be changed so that poverty is ended: this is what we stand for. Everything we do is about ending poverty and injustice: swiftly, effectively, sustainably. Our strategy document Partnership for Change explains how we set about this task.
3. Christian Aid is a member of ACT Alliance, a global coalition of more than 130 churches and church-related organisations that work together in humanitarian assistance, advocacy and development.
4. Follow Christian Aid’s newswire on Twitter.
5. For more information about the work of Christian Aid, visit www.christianaid.org.uk
Statement in response to Standard Chartered's announcement today that it will stop financing new coal-fired power plants
Christian Aid welcomes Standard Chartered’s decision to stop financing new coal-fired power plants.
