Banks have still got a long way to go to meet their own carbon principles says a new report from the Rainforest Action Network (RAN) in the US. Three leading banks put forward these carbon principles in February 2008 to make it tougher to finance conventional coal-fired plants in the US as a way to mitigate carbon emissions and climate change.
Six banks have now signed on to the Carbon principles, but the RAN report indicates adherence to the principles has been hollow and is just a greenwashing exercise by the banks.
