Tigers threatened by Deutsche Bank
Tigers need large habitats that support their prey requirements. Picture: D. Mukherjee/Greenpeace (© Dhritiman Mukherjee/Greenpeace)
Tiger reserves in India are under threat: Coal India wants to establish new coal mines next to landscapes that have been identified as crucial for sustaining tigers. Massive deforestations are planned. Deutsche Bank is helping the company to finance new coal mines. Please ask Deutsche Bank to cut ties with Coal India.
News and updates Call to actionTo: Chief Executive Officers of Deutsche Bank, Mr. J. Fitschen and Mr. A. Jain
“Tiger habitats need to be protected. Coal India is threatening these tiger habitats. Cut ties with Coal India.”
The Indian state-controlled coal mining company Coal India needs money to persue the construction of new coal mines. The company has mandated Deutsche Bank to organise the increase of capital in return for stock worth a total of US $ 1 billion. Coal India is not only the largest company in the world in terms of coal production, it is also one of the worst. It has forcibly displaced forest communities, destroyed critical tiger habitat and even used child labour.
In Central India, thirteen new coal mines and numerous coal-fired power plants are about to be constructed. Greenpeace India has researched the effects of these construction projects on the tigers. About 1.1 million hectares of tropical rainforest and at least ten tiger sanctuaries are at stake.
The environmental officer of a subsidiary of Coal India, Mr. Shinde, makes it simple: “We have to choose if we want electricity or we want tigers.” Environmentalists and locals strongly oppose the project due to its negative impact on the tigers.
Deutsche Bank, however, has made a decision against the tigers. They have hoped that helping to finance environmental destruction would go unnoticed. The bank’s support for Coal India can only be stopped by public backlash.
Please help us to change Deutsche Bank’s view on this issue. Sign our letter of protest and force Deutsche Bank to rethink their decision and to cut ties with Coal India.
BackgroundBengal tiger
The Bengal tiger is the national animal of India. This tiger species once ranged widely across the Indian subcontinent, from Pakistan to Burma. The Bengal tiger has been classified as an endangered species and the total population is estimated at fewer than 2.500 individuals, of which about 1.800 tigers are occupying landscapes in India. Habitat losses and increasing incidences of poaching are serious threats the Bengal tiger faces.
Deutsche Bank and Coal India
Deutsche Bank is one of largest financers of Coal India. They have already organised the going public in 2010 and still hold shares of the company. Although the new management of Deutsche Bank has made great claims of corporate social responsibility not much has changed. For the second time Deutsche Bank is about to help Coal India to finance the establishment of new coal mines right next to tiger conservation landscapes.
Three other banks also help to organise the increase of capital for Coal India. Credit Suisse, Goldman Sachs and Bank of America are involved as well. (Rainforest Action Network wants you to sign a letter of protest to the Bank of America).
Coal India
Coal India is the biggest coal miner in the world. In 2010 it produced 435 million tonnes of coal. The irresponsible company wants to increase coal production by one third until 2017. The effects on the environment will be horrible.
Coal India and its seven subsidies operate 90 % of all Indian coal mines. Many mines are located in the Jharia area. Intact forest landscapes have been transformed into badlands. Sudden fires in the coal mines cause severe air pollution and threatens 400.000 residents. Farming is barely possible and as a result poverty is very common.
Forest clearances and the establishment of coal mines pose a clear threat to tigers, elephants, and local residents.
Corporate social responsibility is not a virtue of Coal India. 246 coal miners have died in the last few years and 1087 workers were severely injured (2007 – 2010). The working conditions appear to be a nightmare. Additionally, the Indian auditing office announced in 2011 that about two thirds of the mines operated by Coal India are illegal, because they were not licensed by the ministry of the environment.
More information provided by Greenpeace:
Study: How Coal Mining is Trashing Tigerland
Study: Undermining Tadoba’s Tigers – How Chandrapur’s Tiger Habitat is being destroyed by Coal Mining
Adressee:
Chief Executive Officers of Deutsche Bank
Mr. Jürgen Fitschen and Mr. Anshu Jain
Taunusanlage 12
60325 Frankfurt, Germany
Tel. +49 69 91000
Fax +49 69 910-34 225
deutsche.bank@db.com
To: Chief Executive Officers of Deutsche Bank, Mr. J. Fitschen and Mr. A. Jain
Dear Mr. Fitschen, dear Mr. Jain,
I am deeply concerned that you are about to organise a raise of capital for Coal India. This company is one of the biggest polluters in the world. Coal India does not care about the environment at all. In 2011, the Indian auditing office declared that two thirds of the mines operated by Coal India lack the mandatory license by the ministry of the environment. The destruction of large areas of forest leads to habitat losses for the endangered Bengal tigers. 1.1 million hectares of forest and the last tiger reserves are at stake.
A bank that claims to act responsibly should not be financing a company that displaces communities, destroys tiger habitats, and employs child labour.
I urge you to cut ties with Coal India. Take your corporate social responsibility seriously and develop binding environmental and social standards. Working together with companies like Coal India should be out of question for Deutsche Bank.
Sincerely,
Recent successes