Children in Indonesia are suffering from bronchitis,
tuberculosis and even dying because of PLN’s greedy fossil fuel
expansion.
PLN is Indonesia’s biggest electricity provider. But instead of
generating clean energy from renewable sources, the corporation
continues to burn dirty coal. Air pollution and ash from its coal
plants has killed more than 2,500 people.
But PLN is running out of money to finance its polluting plans
and is desperately going to western banks like Citi, HSBC and
Standard Chartered asking them to back its €500 million bond.
This is where we come in. If we show the banks just how toxic PLN’s
plans are they’ll have no choice but to walk away.
Tell banks Citi, HSBC and Standard Chartered: don’t
fund PLN’s polluting plans.
PLN’s big bond is maturing in October this year. Which means PLN
must pay back the €500 million it borrowed, or try and get it
refinanced through the banks. Western banks Citi, HSBC and
Standard Chartered were all involved in financing PLN’s old bond,
but since then HSBC and Standard Chartered have started to scale
back their support for coal projects.
Global momentum is building for clean, renewable energy sources
every day. Solar and wind are the cheapest form of new energy and
the banks know this. Let’s make sure they don’t bow to pressure
from PLN to keep financing polluting and outdated forms of
energy.
Sign the petition: Citi, HSBC and Standard Chartered
don’t finance PLN’s coal addiction.
We’ve done it before. Together, we forced Indonesian coal
giant Adaro to spin off its coal business. HSBC and Standard
Chartered are already backing away from coal projects worldwide.
With enough pressure, we can make them walk away from PLN
too.
