The AGMs - The coal companies and their financial supporters Why - PowerPoint PPT Presentation

The AGMs - The coal companies and their financial supporters

Why Annual General Meetings (AGMs)?

Theory of Change explained through a titration curve: push towards the ‘Crescendo Moment’

NOTE: Corona will most likely affect the AGMs

Coal phase-out by 2030 – or no 1.5 C

Who are the most important coal companies?

The campaign targets account for ~ 55% of EU-28 coal-based CO2

We need to double the speed! (emissions of the 8 companies of the previous slide)

The European Priorities for 2020

European financial institutions’ mass exodus from coal - quantity but not quality? 2019 2020

COP26 in the UK

Tracing the financial flows beyond Europe

The Japanese Olympics - There are numerous Japanese financiers behind European coal! NOW POSTPONED TO JULY 2021 Mizuho’s financial support 2018-2020: Fortum (640 million) Enel (about 600 million) RWE (200 million) Uniper (120 million) SMBC’s financial support 2018-2020: Enel (482 million) EPH (365 million) RWE (270 million) CEZ (100)

Objectives for the 2020 calendar year Change the narrative and further institutionalise the 2030/2040 timelines to ensure that there is a paradigm shift around the responsibility covering the power utilities and the financial institutions.

AGM Objectives

Objectives for the AGM season Ensure 2 AGMs have a people power component and thereby force the utility to make a tighter decarbonisation plan COVID-19 MODIFICATION: ALL ACTIONS SHOULD BE CARRIED OUT DIGITALLY

Objectives for the AGM season Institutionalise the UN SG message: no new coal by 2020 and thereby feed into the wider movement’s work against Datteln 4 and a rapid coal exit by 2030 in Europe/OECD.

Who are the priorities amongst the financial institutions? (note: coal specific)

International financial institutions with operations in Europe (who cannot be move ind their home domicile) Japanese megabanks (short term priority in April and May): Mizuho (key moment is April 2020 and their branches in the UK and Germany), Mitsubishi (April and May) and Sumitomo Mitsui Banking Corporation BlackRock (their new coal policy is extremely weak – may not update again until 2021. The UK, US and Germany branches most involved in European coal) The UK Barclays (new coal policy late-March introduced no new restrictions) Lloyds of London (insurer, not bank) HSBC In France (key focus until summer): BNP Paribas Societe Generale In Germany: Talanx Deutsche Bank Increasingly also Commerzbank, DZ Bank and Sparkasse In Italy: Intesa Sanpaolo (first priority) Generali UniCredit Spain Santander BBVA (Mapfre) Poland: PZU

Campaigning tools

Financial data research - Coming out in May! WHO IS BEHIND THE COAL COMPANIES?

Block Fossils Out digital tool launch … postponed will the end of the COVID crisis