The US and British financial institutions have become one of the leading investors in the Russian carbon bomb” fuel project, according to a new database of ownership from the last few years.
The activists in Ukraine said these institutions must immediately end the investment, to limit the funding of the Russian invasion to Ukraine and to avoid climate disorders.
Carbon bombs are fossil fuel extraction projects identified by researchers to contain at least 1 billion tons of CO2 climate warming, three annual British emissions.
Russia is a hotspot, with 40 carbon bombs, 19 of which are operated or developed by Russian companies supported by foreign finances. The companies are Gazprom, Novatek, Lukoil, Rosneft Oil Company and Tatneft.
The database, produced by Leave it in the Ground Initiative (Lingo), found that more than 400 foreign financial institutions have provided support of $ 130 billion (£ 109 billion) to Russian companies – investments $ 52 billion and $ 84 billion credit. Data was released on Wednesday, Ukraine Independence Day and six months since the beginning of the Russian invasion.
Financial institutions in the US have almost half a foreign investment in Russian carbon bomb companies, with 154 institutions holding $ 23.6 billion. The largest combination of investment and credit – $ 10 billion – provided by JPMorgan Chase, another analysis is also identified as a leading fund provider of fossil fuels.
The largest single investment in the Russian carbon bombing company is $ 15.3 billion in Rosneft held by Qatar Investment Authority, Qatar’s country’s wealth funds.
Britain ranks third in the list of investment countries, with 32 financial institutions have an investment of $ 2.5 billion. HSBC has the largest total investment and credit, of $ 308 million. Financial groups in Japan, Norway, Switzerland and the Netherlands also have significant investments, while Chinese and Italian institutions provide $ 45 billion in credit among them.
Putin’s war is funded through money from fossil fuels and fossil fuels, causing climate disorders when we speak,” said Svitlana Romanko, Director of Ukraine NGO Razom We Stand,
who called for all foreign investment in Russian Fossils for us to stand at the end of Russia In Russian Russian Russian Russia Russia Russia Russia’s fuel and permanent embargo company in Russian oil, gas and coal. “Investing in Russian carbon bombs is the worst thing you can do today.”
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