Through their support for Venture Global Plaquemines’ bonds, BPCE, Standard Chartered, Barclays and ING are undermining their climate pledges and directly supporting the unnecessary US LNG boom.

📢 We are calling on banks to end all financial support for LNG developers and their new projects.

3️⃣ Venture Global surged under Trump, but its rapid gains now face questions after co-founders bought shares just before approval of the once-blocked CP2 export terminal.

(see: www.theguardian.com/business/202...)

2️⃣ Plaquemines LNG is the second-largest LNG export terminal in the US and the company has recently announced plans to double the terminal’s capacity.

(see: www.reuters.com/business/ene...)

1️⃣ Venture Global is driving the LNG boom: it is currently the largest LNG developer worldwide.

(see: exitlng.org/companies-le...)

As recently as last week, we identified two bonds issued by Venture Global Plaquemines, a subsidiary of giant Venture Global LNG.

These bonds were backed by several European banks, including: BPCE, Standard Chartered, Barclays and ING.

Why this matters:

✊ But there is hope: the top 10 financiers—mainly Chinese, Indian, and Japanese banks—account for 42% of the total. This means that a small group could halt the majority of the regional pipeline if they adopted strict 'no-new-coal' policies!

Find out more in our report!

💰 Between 2021 and 2024, the top 100 global financiers of coal expansion provided $49.5 billion to companies involved in coal expansion in South and Southeast Asia. Global banks’ support for coal developers actually increased by a third in 2024 compared to 2022.

➡️ In this regard, banks supporting the companies behind this expansion are complicit in their climate-wrecking plans, since private groups like Adani rely on international financing to maintain their projects.

But who are they, and how much are they providing to coal expansion? ⤵️

❌ This expansion is locking the regional energy mix into a trajectory incompatible with 1.5°C scenarios. In countries like Indonesia, Vietnam, India, and the Philippines, renewables are already more competitive than coal, and coal’s profitability is in decline.

👉 More than 1/3 of the global pipeline of planned coal power capacity is located in just 7 countries: India, Indonesia, Pakistan, Bangladesh, Vietnam, Laos, and the Philippines.

216 GW of new coal capacity is planned in the area. It could contribute to emitting more than 850 Mt CO2 per year.

🇪🇺 Après des années de campagne, la Banque centrale européenne a annoncé cet été prendre désormais en compte le climat dans son système de garanties financières.

Cette réforme va contraindre les banques à réévaluer leurs prochains soutiens pour les entreprises aux activités climaticides.

Merci ! 💚

👉 Quelques exemples d'avancées obtenues en 2025 grâce à vos dons :

☔ Du côté des acteurs privés, BNP Paribas Cardif, BPCE Assurances, Macif et la MAIF ont adopté de nouveaux engagements concrets pour réduire leur soutien aux projets pétroliers et gaziers.

📢 We urge MUFG—along with other Equator Principles signatories—to rule out financing Papua LNG, and we call on the Equator Principles Limited to launch an investigation into our concerns and to alert its signatories of the complaint.

🚨 But Japanese mega-bank MUFG, which has signed the Equator Principles, is reported to be acting as financial advisor and seeking to raise finance for the project, including from other Equator Principles signatories.

Several Equator Principles banks have already ruled out financing Papua LNG including its previous financial advisor @credit-agricole.bsky.social. The French bank stated it would not finance it following extensive civil society mobilization regarding its climate, biodiversity & human rights impacts.