Ekō

📢 New report reveals French Insurance Giant AXA Rapidly Divests $20 Million from Israeli Banks in Response to Public Pressure! 💰 For Ekō , Profundo investigated the #investments of AXA in #bonds and #shares issued by five Israeli #banks: Bank Hapoalim, Bank Leumi, Israel Discount Bank, First International Bank of Israel and Mizrahi Tefahot Bank. ❗ The United Nations denounced all five #banks for their complicity in #warcrimes against Palestinians. 💸 This report shows that global #insurer AXA has fully divested from all five complicit Israeli banks as of 24 June 2024. “As Israel escalates violence against Palestinians in the occupied West Bank, continues to forcibly starve and bomb 2.3 million Palestinians trapped in the besieged Gaza Strip, and razes entire cities to the ground, it is impossible for any company to justify enabling Israeli war crimes. After AXA’s sell-off, others should think twice about investing in companies complicit in war crimes.” - Leili Kashani, campaigner with the corporate accountability group Ekō 📜 In addition, the report lists the top 50 #investors in the five selected Israeli banks. Researcher: Jeroen Walstra Read the full report: https://lnkd.in/eTFcNihF Read Ekō's press release: https://lnkd.in/ed5DV9wJ #insurance #axa #investing #divest #france #palestine #gaza #bank #banking #israel

Whilst @abrdn went the right way on the last Adani Green bond, they are still in the top 5 most heavily invested asset managers in #Dirty30 fossil fuel bonds (as a proportion of their funds under management). Will they go the right way on climate and usher in a new green CEO? We certainly hope so. #ToxicBonds

We're calling on Lombard Odier Group to take another look at its Adani Green Energy Ltd. investments in light of this new research. Buying Adani bonds cannot be in line with sustainable investing. It's time to #DenyDebt to #Adani Sign the petition here: https://lnkd.in/eTUapcJH

Adaro isn't a household name in most parts of the world. But it's time it was. This coal giant - the second largest in Indonesia - will clear whole communities and ecosystems to keep digging up coal. And it's doing it with support from major global banks. Despite all being members of the Net Zero Banking Alliance, Citi, J.P. Morgan and Deutsche Bank won't rule out supporting Adaro's thirst for coal. That's why in the last 72 hours more than 31,000 Ekō members have called on these banks to put their money where their mouth is. Help protect the communities and ecosystems that are at risk from Adaro's coal expansion. Join 31,000 others and urge banks to cut ties with Adaro now: https://lnkd.in/gn75v8nQ Market Forces BankTrack

Ekō has filed a formal complaint requesting B Lab revoke Lombard Odier Group #BCorp certification unless they immediately commit to divest and deny new debt from companies deriving more than 10% of their revenue from coal, oil and gas. B Corporation certified companies are supposed to meet high standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community and the environment. Lombard Odier has not been transparent about its investments in fossil fuel companies, and continues to contribute to run-away climate change through its irresponsible investments. Contrary to its sustainable claims, Lombard Odier holds hundreds of millions shares and bonds issued by coal, oil and gas companies. An analysis of its investment funds by The Ferret revealed that 23 of its funds are invested in fossil fuel companies, including its investment funds with net zero targets. Lombard Odier’s bondholdings in Adani Group companies alone total over US $141 million. Lombard Odier’s investment in any arm of the Adani Group is violating its own – as well as B Corp’s – investment restriction policy of not investing in companies that derive more than 10% of their revenue from coal. Despite this, Lombard Odier invested in Adani Green’s ‘green bond’ which was Adani’s first USD bond offering since Hindenburg. https://lnkd.in/dvMap7Sf

Big news: Bloomberg reports that after 12 months of campaigning from Ekō members and Toxic Bonds, abrdn has boycotted Adani’s most recent bond sale 🎉 This is a big step and we congratulate abrdn and Stephen Bird for seeing through Adani’s greenwash. Adani’s record of climate crimes is well known. But that hasn’t stopped investors stumping up millions to buy its latest “green” bond. What’s different this time is that abrdn - previously a large holder of Adani bonds - has not bought in. Over the past 12 months we’ve visited abrdn at its AGM, we staged a cheeky sideshow for staff at the Edinburgh Fringe, our friends Glimpse delivered coffee and cake to their doorstep and Ekō members sent holiday greetings from across the world. After taking this all in good humour we are glad to see that abrdn has taken this significant step to deny debt to Adani. But we hope this isn’t the end. abrdn still stands out as one of the most important investors without a meaningful policy on fossil fuels. In drafting a new policy on fossil fuels, abrdn has the opportunity to go from climate laggard to climate leader. Let’s hope Stephen Bird takes it.

Big news: Bloomberg reports that after 12 months of campaigning from Ekō members and Toxic Bonds, abrdn has boycotted Adani’s most recent bond sale 🎉 This is a big step and we congratulate abrdn and Stephen Bird for seeing through Adani’s greenwash. Adani’s record of climate crimes is well known. But that hasn’t stopped investors stumping up millions to buy its latest “green” bond. What’s different this time is that abrdn - previously a large holder of Adani bonds - has not bought in. Over the past 12 months we’ve visited abrdn at its AGM, we staged a cheeky sideshow for staff at the Edinburgh Fringe, our friends Glimpse delivered coffee and cake to their doorstep and Ekō members sent holiday greetings from across the world. After taking this all in good humour we are glad to see that abrdn has taken this significant step to deny debt to Adani. But we hope this isn’t the end. abrdn still stands out as one of the most important investors without a meaningful policy on fossil fuels. In drafting a new policy on fossil fuels, abrdn has the opportunity to go from climate laggard to climate leader. Let’s hope Stephen Bird takes it.

The world’s largest private coal developer - India’s Adani Group - has just announced it’s raising $400m through its “green energy” division. But with Adani all roads lead to coal. And though it may look green, this is a toxic bond. Shame on Deutsche Bank, DBS Bank and Barclays for signing onto this deal. Ekō members have been campaigning with other Toxic Bonds partners for over 12 months to cut off Adani’s access to the trillion dollar bond market. With news that this bond will be issued in March it’s up to all of us to call on investors like TIAA, abrdn and PIMCO to deny debt to Adani and boycott this bond. Add your voice and sign the petition now: https://lnkd.in/gwVeWn4p Bank On Our Future BankTrack Reclaim Finance - ONG