HSBC funding of Open Cast Mining

Photo Credit : Andi_Apple Flikr.com Nikon Gold winning photo depicting the Fimmersdorf power station and the open cast mining of Garzweiler

After their December announcement that HSBC would no longer be funding new oil and gas projects, the global banking giant has been called out for "making a secretive loan to a coal company " (Moulds 2023) in the sum of £340million.  The loan was made to German Energy company RWE, to expand their Garzweiler open cast mining operations.  RWE  are also responsible for bulldozing 13 villages and plan to evict the nearby village of Luzerath in their expansion plans for the 35Km2 mine.    In her article for the Bureau of Investigative Journalism, Moulds states that the deal was financed using sustainability loans.

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