#TheTimeIsNow: BNI President Director, Stop Funding Coal, The Cause of Climate Crisis!
#TheTimeIsNow: BNI President Director, Stop Funding Coal, The Cause of Climate Crisis!
The Issue
Bahasa Indonesia Version
Climate-related disasters occur in almost every corner of the world. The World Meteorological Organization (WMO) says that the number of worldwide weather-related disasters has increased fivefold in the last 50 years. More than two million people died due to natural disasters that are caused by climate change, with economic losses reaching US$ 3.64 trillion (51 quadrillion IDR).
Coal pollution is the biggest contributor to accelerating the climate crisis. According to world researchers, if the coal industry continues to operate, in approximately 10 years various climate-related disasters will become more frequent and destroy life on earth. Maximum disaster management efforts will not be enough. So, to secure a safe and better future, the use of coal energy must be stopped now. We don't have much time.
A number of banks and financial institutions around the world have already committed to stop funding the coal industry. The bad news is state-owned banks in Indonesia are still supporting this rogue industry with people’s money. One of the banks is Bank Nasional Indonesia (BNI).
What can significantly stop the coal industry is to cut the source of its funding.
In a report by the international research agency Urgewald, BNI is found to be one of six banks in Indonesia that still provides credit to coal companies. In April 2021, BNI was a facility agent in providing a syndicated loan of 400 million USD for Adaro. Adaro itself is the second-largest coal producer in Indonesia with coal reserves of 1.1 billion tons. If the coal is burned, it will produce 2.2 GtCO2-e of emissions, almost 1.5 times the total emissions produced by Indonesia in 2018.
Unfortunately, Adaro is not the only mining company that received a loan from BNI. Many mining companies are also funded by BNI. This will prevent Indonesia from dropping out of its ranking as the 3rd largest coal producer in the world.
Even though according to the 2020 BNI report, it is committed to reducing Greenhouse Gas (GHG) emissions that cause the climate crisis.
BNI also ventured into the international market. BNI has a network of overseas branches (KCLN), in six world financial centers, including Singapore, Hong Kong, Tokyo and Osaka - Japan, New York - United States of America, Seoul - South Korea, and London - England. The number of branch offices will continue to grow with BNI’s expansion plan.
Therefore, we urge President Director Royke Tumilaar to make BNI immediately commit to stop funding coal companies. #TheTimeIsNow for BNI to quit coal and fund renewable energy.
Regards,
Fossil Free Campus Indonesia
(Community collaboration of Fossil-Free Universitas Indonesia and the Fossil-Free Universitas Gadjah Mada)
The Issue
Bahasa Indonesia Version
Climate-related disasters occur in almost every corner of the world. The World Meteorological Organization (WMO) says that the number of worldwide weather-related disasters has increased fivefold in the last 50 years. More than two million people died due to natural disasters that are caused by climate change, with economic losses reaching US$ 3.64 trillion (51 quadrillion IDR).
Coal pollution is the biggest contributor to accelerating the climate crisis. According to world researchers, if the coal industry continues to operate, in approximately 10 years various climate-related disasters will become more frequent and destroy life on earth. Maximum disaster management efforts will not be enough. So, to secure a safe and better future, the use of coal energy must be stopped now. We don't have much time.
A number of banks and financial institutions around the world have already committed to stop funding the coal industry. The bad news is state-owned banks in Indonesia are still supporting this rogue industry with people’s money. One of the banks is Bank Nasional Indonesia (BNI).
What can significantly stop the coal industry is to cut the source of its funding.
In a report by the international research agency Urgewald, BNI is found to be one of six banks in Indonesia that still provides credit to coal companies. In April 2021, BNI was a facility agent in providing a syndicated loan of 400 million USD for Adaro. Adaro itself is the second-largest coal producer in Indonesia with coal reserves of 1.1 billion tons. If the coal is burned, it will produce 2.2 GtCO2-e of emissions, almost 1.5 times the total emissions produced by Indonesia in 2018.
Unfortunately, Adaro is not the only mining company that received a loan from BNI. Many mining companies are also funded by BNI. This will prevent Indonesia from dropping out of its ranking as the 3rd largest coal producer in the world.
Even though according to the 2020 BNI report, it is committed to reducing Greenhouse Gas (GHG) emissions that cause the climate crisis.
BNI also ventured into the international market. BNI has a network of overseas branches (KCLN), in six world financial centers, including Singapore, Hong Kong, Tokyo and Osaka - Japan, New York - United States of America, Seoul - South Korea, and London - England. The number of branch offices will continue to grow with BNI’s expansion plan.
Therefore, we urge President Director Royke Tumilaar to make BNI immediately commit to stop funding coal companies. #TheTimeIsNow for BNI to quit coal and fund renewable energy.
Regards,
Fossil Free Campus Indonesia
(Community collaboration of Fossil-Free Universitas Indonesia and the Fossil-Free Universitas Gadjah Mada)
Petition Closed
Share this petition
The Decision Makers
Petition Updates
Share this petition
Petition created on March 10, 2022