ClimateQuiet 21d · day 22
Barclays hit with complaint over financing tied to Sundarbans coal plant
Three complainants allege the UK bank breached guidelines by underwriting entities linked to the Rampal power station near the world's largest mangrove forest.
What to know
- Complaint filed with UK's Office for Responsible Business Conduct accuses Barclays of insufficient due diligence before underwriting financing linked to the Rampal coal plant.
- The plant sits near the Sundarbans, a Unesco World Heritage mangrove forest supporting millions of livelihoods and Bengal tiger habitat.
- A November study found elevated mercury and arsenic in the Pasur River, tied to industrial discharge and the power station.
- Barclays underwrote debt for NTPC and bond issues for the Export-Import Bank of India that helped finance the project between 2016 and 2019.
“The health of the forest is in trouble.”
Sharif Jamil, Environmental campaigner and complainant · The Guardian ↗ · Sep 1
Sharif Jamil Environmental campaigner, Dhaka; complainantBarclays British bank accused of underwriting financing linked to the plantNTPC Ltd Indian state-owned joint-venture partner in the Rampal/Maitree power projectKing's Legal Clinic Legal body assisting the complainants
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