Friends of the Earth Media Releases

New Report: China Stops Anti-Environment Bank Lending

CHINA PROHIBITS BANKS FROM LENDING TO ENVIRONMENTALLY DESTRUCTIVE COMPANIES

New report highlights regulators' move toward sustainable lending, shows potential way forward for U.S. banking sector

China has adopted new financial sector regulations designed to limit environmental problems including pollution and climate change, according to a report released today by Friends of the Earth-U.S.

The environmental group said that China's effort to improve the sustainability of its financial sector could provide U.S. regulators with ideas for how to approach the financial crisis here.

"Because of the financial crisis and bailout, we in the U.S. have a historic opportunity to update regulations in ways that enable Wall Street to finance a sustainable future," said Michelle Chan of Friends of the Earth, one of the authors of the report. "As this report shows, China offers some interesting examples of how sustainability can be incorporated into financial regulation."

The report, The Green Evolution: Environmental Policies and Practice in China's Banking Sector, describes recent regulations that prohibit banks from lending to companies that fail to comply with environmental laws. In particular, the report found that as part of China's "Green Credit Policy," the country's Ministry of Environmental Protection has put 38 firms on a "credit blacklist" due to environmental violations, resulting in at least $293 million (U.S.) in loans being denied or recalled. It also details China's new "Green IPO" (initial public offering) policy, which requires companies in polluting or energy-intensive industries to disclose environmental information and face a public comment period before stock is sold to the public. Twenty out of 38 companies reviewed had their IPOs rejected or subjected to further assessment by the Environment Ministry since the policy's start in February 2008.

The report found that some Chinese banks, particularly those that received government bailouts, have curtailed lending to polluting and energy-intensive industries. For example, in 2007, Bank of Communications reported that it cut lending to the iron and steel industries by $1.14 billion (U.S.), and ICBC decreased loans to polluting industries by 24 percent.

"China's banking crisis led to massive government bailouts starting in the late '90s," Chan said. "But it wasn't no-strings-attached. Banks had to make drastic changes, and new regulations forced banks to follow prudent lending practices, including taking the environment into account. Policy makers in the United States should demonstrate the same kind of vision."

Although China's green finance policies have recently led to positive changes, the report also points out significant shortcomings. For example, Chinese banks still lag behind international best practices for environmental credit risk management, public reporting, and stakeholder engagement. Also, the scope of China's Green Credit Policy is limited, as the policy does not apply to Chinese banks' growing international lending portfolios. In addition, China's green finance policies may be insufficient to counter contradictory policies that have expanded the use of environmentally harmful energy sources including coal, large-scale hydropower, and nuclear power.

The full report can be viewed at: http://www.foe.org/pdf/Chinese_Bank_Report_2008.pdf.

Obama’s Commitment to Tackle Global Warming Welcomed, But He Must Go Further

WASHINGTON, D.C.—President-elect Barack Obama spoke via video to the bipartisan "Governors Climate Summit" in California today, announcing a climate change agenda consistent with the one he outlined during his campaign.

Friends of the Earth President Brent Blackwelder had the following response:

"After eight years of failed leadership from an administration that did all it could to stand in the way of progress, Barack Obama's commitment to tackle global warming head-on is a welcome change. As his address today indicates, Obama understands the gravity of the threat, knows that combating global warming will strengthen our economy, and supports needed solutions, including investments in clean energy and putting a price on carbon emissions. But Obama must go further. His current timeline for reducing emissions must be strengthened—scientists say the U.S. must reduce emissions at least 25 percent below 1990 levels by 2020 (and probably much more than that) if we are to have a decent shot at avoiding catastrophic warming. In addition, we must not waste precious resources by spending them on expensive and inefficient dead-end or nonexistent technologies including nuclear power or so-called 'clean coal.' Obama is demonstrating leadership on global warming from the get-go. But the enormity of the task at hand requires him to be even more aggressive."

G20 Told Financial System Is Inadequate to Fix Economy

With representatives of 20 of the world’s wealthiest nations scheduled to meet here this weekend to discuss the global financial crisis, Friends of the Earth released a series of recommendations to make the world’s financial system more stable, transparent, accountable, and environmentally sustainable.

"This financial crisis is just the latest sign that the global financial system is not working,” said Friends of the Earth-U.S. President Brent Blackwelder. "Now President Bush has called a meeting aimed at propping up that system, when what is needed is fundamental change. We cannot turn to the same actors and institutions that created this mess and expect a different result. We need a new approach."

Unemployment Figures Show Need for Green Jobs Stimulus

The Department of Labor reported today total jobless rolls have climbed to the highest level in 25 years: 3,845,000 Americans continued to collect unemployment benefits in the most recent week for which data is available.

Friends of the Earth President Brent Blackwelder said the news underscores the need for rapid investments in clean energy infrastructure that can create green-collar jobs.

"Our country is confronting an economic crisis, an energy crisis, and a climate crisis and there’s a common solution to all three. Investing in clean energy and increased efficiency will strengthen the economy, create good jobs, and rebuild the middle class." Blackwelder said. "We can create millions of jobs by investing in railways and public transportation, weatherizing homes and retrofitting buildings, creating a smart energy grid, and deploying clean technologies such as wind and solar power. Voters sent a message on Tuesday: they want a clean-energy economy. Now it’s time for our congressional leadership to deliver."

Biofuel Industry Attempts to Undermine Global Warming Standards

Environmental groups delivered a letter to the Environmental Protection Agency today calling on it to meet its responsibility under the law and reject a biofuel industry attempt to weaken global warming standards for ethanol.

New Ads Focus on Yucca Mountain; Hearings Demanded

WEBSITE: http://dontdumponnevada.org

Friends of the Earth is working with the Progressive Leadership Alliance of Nevada and the Sierra Club on a coordinated media campaign warning that transporting dangerous nuclear waste to the proposed Yucca Mountain nuclear waste dump is a recipe for disaster. Millions of Nevadans – and millions in 39 states coast-to-coast – live in close proximity to planned transportation routes of the material.

Print and radio advertisements in English and Spanish warn that highly toxic radioactive waste does not belong on our railroads and highways. The groups are urging the Surface Transportation Board, a federal agency working with the U.S. Department of Energy to develop routes for the radioactive waste to reach Yucca Mountain, to schedule open hearings so the public can gauge the threat posed by the shipments.

"Nevadans don’t deserve to be dumped on," said Erich Pica of Friends of the Earth. "The Surface Transportation Board can keep this dangerous waste from traveling through Nevada, and that’s what we’re calling on them to do."

World Bank Climate Initiatives Come Under Fire

ACTION AID USA * CAMPAGNA PER LA RIFORMA MONDIALE * INSTITUTE FOR POLICY STUDIES * FRIENDS OF THE EARTH INTERNATIONAL * OIL CHANGE INTERNATIONAL

Watchdog groups take aim at new 'Climate Investment Funds;' report exposes World Bank's 256 percent increase in support for coal

WASHINGTON, D.C.-- Two days before the World Bank's annual meetings, a coalition of watchdog and nonprofit groups exposed World Bank lending for dirty projects and urged individual nations to refrain from supporting the World Bank’s new "Climate Investment Funds."

The groups released a report today titled "Dirty is the New Clean: A Critique of the World Bank's Strategic Framework for Development and Climate Change." The report argues that the World Bank's track record disqualifies it from managing clean technology transfer and climate adaptation funds. Instead, the groups argue, such funds should be established under the United Nations Framework Convention on Climate Change, in order to ensure they are used equitably and effectively, in accordance with the principle of common but differentiated responsibility, and that nations receiving financing are thoroughly involved in funds' design and implementation.

Ad Links Nuclear Loan Guarantees to Bush Bailout

Loan guarantees sought by nuclear industry for reactor construction amount to 'preemptive bailout,' with expected default rate of 50 percent or higher

WASHINGTON, D.C.-- A new ad from Friends of the Earth accuses nuclear industry lobbyists of seeking a "preemptive bailout" from Congress in the form of risky, taxpayer-backed loan guarantees from Congress.

"First the government bails out the banks, now all of Wall Street, at a cost of over 1 trillion dollars. So why would taxpayers ever risk billions to build nuclear power plants?" the ad asks. "With cheaper, safer alternatives, why is Congress even considering a preemptive bailout for nuclear power?"

Friends of the Earth Opposes Bush's Blank-Check Bailout of Financial System

Friends of the Earth announced its opposition to the Bush administration’s proposed trillion-dollar bailout of the financial system today, and called on elected officials to ensure that any government action related to the financial crisis fixes deep structural flaws in the financial system that have spawned not only the current financial crisis but are also jeopardizing our planet’s future.

“Friends of the Earth opposes the Bush administration’s proposed blank-check bailout for these wealthy financiers. What is needed is truly fundamental reform, not this no-strings-attached proposal. The government must impose oversight and re-regulation on the financial system," Friends of the Earth President Brent Blackwelder said. "The days of the fox guarding the henhouse, with corporate lobbyists writing the laws that regulate their industries, must end. And we must consider environmental impacts to be economic impacts as we move forward. While the risks posed to the economy by the current financial crisis are indeed dire, we also face long-term risks posed by the climate crisis. These problems are intertwined, and reforms of the financial system must take this into account.

FDA Holds Yet Another Nanotech Meeting, But Still No Action

ROCKVILLE, MD—The Food and Drug Administration came under heavy fire today at a meeting it held to once again solicit comments regarding the agency's oversight of nanomaterials. The FDA held a similar meeting in October 2006. A coalition of nonprofit consumer and environmental groups accused the agency of being derelict in its duty to protect Americans from harmful products.

"Despite having received thousands of comments from Americans concerned about the threat that nanomaterials pose to human health and the environment, FDA still refuses to regulate such materials, adapt regulations for the new properties and risks of nanotechnology, or even require products be labeled," said Jaydee Hanson, the International Center for Technology Assessment’s (ICTA) policy director. "This meeting is more of the same: all talk, no action. The agency has not even tried to address the public's vocal concerns."

Leading Grocers Pledge to Keep Cloned Food Off Shelves

Washington, D.C.—Four national grocery store chains have pledged to keep cloned meat and dairy products off of their shelves in response to a request from Friends of the Earth, the environmental group announced today. This spring, Friends of the Earth presented grocery store chains more than 8,000 signatures from consumers urging them to reject products made from cloned animals. Albertsons, PCC Natural Markets, SUPERVALU and Harris Teeter responded with letters indicating they will not stock such products.

Friends of the Earth does not support Club4Climate

WASHINGTON, August 15, 2008. A U.K.-based firm called Club4Climate is linking to our website and implying an affiliation with our organization. There is no such affiliation. Friends of the Earth does not support Club4Climate and has not given it permission to use its logo. We are not accepting financial contributions from Club4Climate.

EPA Ignores Warnings Over Flawed Ethanol Mandate

WASHINGTON, August 7, 2008. Three prominent national environmental groups criticized today’s Environmental Protection Agency (EPA) announcement that it would not grant Texas Governor Perry’s request to temporarily waive the federal mandate for ethanol. Friends of the Earth, Clean Air Task Force, and the Environmental Working Group had urged the EPA to grant the waiver to Governor Perry.

S.C. Nuclear Fuel Test Failure Should Trigger Suspension of Weapon-Grade Plutonium Fuel Use, Groups Say

WASHINGTON (August 4, 2008) -- Citing the recent failure of an experimental plutonium fuel assembly test at a South Carolina nuclear plant, two watchdog groups today called on the Department of Energy (DOE) to suspend a risky, multibillion dollar program that would use 37 tons of surplus nuclear weapons plutonium for U.S. nuclear reactor fuel.

Pro Sports Asked to Ban Gene Doping

Friends of the Earth announced today that it has sent letters to major U.S. professional sports organizations asking them to prohibit gene doping. "Altering one's genetic makeup to impact athletic performance is unacceptable," said Gillian Madill, genetic technologies campaigner at Friends of the Earth. "Gene doping is cheating, and it's dangerous. Professional sports organizations should ban it."

Nuclear Cost Approvals Should be Revoked

DURHAM, NC – Federal regulators now say a nuclear plant design touted as “certified” in 2004 remains years from completion, more delays in the design approval process are likely, and problems involving major components and plant systems persist. In response, public interest groups in North and South Carolina today filed legal motions calling for revocation of $230 million in preconstruction costs approved by both states’ electricity regulatory commissions in May and June for two new Duke Energy reactors.

Blumenauer Introduces Bill to Help Provide Relief from High Gas

Washington, DC – Today Congressman Earl Blumenauer (D-Ore) introduced the bipartisan “Transportation and Housing Choices for Gas Price Relief Act,” H.R.6495, with Reps. Ellen Tauscher (D-CA) and Christopher Shays (R-CT) as original cosponsors. With gas prices tripling over the last seven years, American families need solutions that will help them now. This bill provides immediate relief by giving people more transportation options, helping Americans reduce their commuting costs, assisting transit agencies with rising fuel costs, and increasing housing options near public transportation.

Bush Admin. Blasted for Refusal to Address Global Warming

Washington, D.C., July 11, 2008 -- Environmental conservation groups today blasted the Bush Administration’s refusal to act to reduce carbon dioxide pollution before the end of its second term. In an “advanced notice of proposed rulemaking” (ANPR) released today, the Environmental Protection Agency (EPA) made it clear it will delay action to address CO2 emissions indefinitely.

French Uranium Spill Shows Nuclear Is Not Safe

FRANCE—Nearly 8,000 gallons of radioactive waste spilled from the Tricastin nuclear site Wednesday, forcing the closure of two French rivers and threatening human populations and the environment.

Groups to Environment and Public Works Committee: Biofuels Mandate Should Be Suspended

WASHINGTON, D.C.—Environmental groups sent a letter to the Senate Environment and Public Works Committee today urging it to suspend the federal biofuels mandate, arguing that the mandate is a major driver of unsustainable biofuels production in the United States and abroad.

Farr Fights Cruise Ship Pollution

WASHINGTON, D.C.—U.S. Representative Sam Farr (D-CA) introduced legislation last night to force the cruise industry to stop dumping human sewage and other wastes into U.S. coastal waters. "This bill is just in time for cruise season," said Danielle Fugere of Friends of the Earth. "The Clean Cruise Ship Act will stop these giant ships—small floating cities with thousands of passengers – from dumping waste along our shores and threatening the very environments vacationers seek to enjoy."

Harry Reid Tells Truth about Coal, Oil

WASHINGTON, D.C.—Senate Majority Leader Harry Reid spoke about the adverse health and environmental consequences of burning coal and other fossil fuels on Monday, and a YouTube video of Reid’s remarks has gone viral, reaching more than 360,000 viewers.

Clean and Affordable Energy Act Passes DC Council First Reading

WASHINGTON, D.C.—The City Council voted unanimously today advance the "Clean and Affordable Energy Act of 2008" on its first reading. This innovative and historic legislation will establish a sustainable energy utility to reduce the city’s energy use, train residents for green jobs, and help low-income residents limit their energy bills through improved efficiency.

New Flood Control Policies Needed in Wake of Midwest Floods

WASHINGTON, D.C.—Record flooding is devastating Iowa and other parts of the Midwest, and with global warming promising to create even more extreme weather, Friends of the Earth said today that it’s time to revamp the country’s failed flood control policies.

Doggett Bill Pushes Global Warming Solutions in House

Friends of the Earth President Brent Blackwelder welcomed the announcement of a global warming bill authored by Rep. Lloyd Doggett (D-Texas) with the following statement: "We welcome the introduction of another global warming bill in the House of Representatives and thank Congressman Doggett for his leadership. Congressman Doggett's bill will provide a useful basis for discussion and debate as members of the House continue to grapple with different approaches to addressing the climate crisis.

Economists Say DC Soccer Stadium Funding 'Cannot be Justified'

WASHINGTON, D.C.—The proposal to spend $150 million or more in D.C. taxpayer funds to subsidize a new soccer stadium "will not generate notable economic or fiscal benefits for the city" according to 26 economists from across the nation who signed a joint statement being released today.

Public Transportation Can Address Gas Prices and Warming

WASHINGTON, D.C.—Friends of the Earth transportation policy coordinator Colin Peppard had the following statement today about public transportation’s potential to protect Americans from high gas prices: "During last week's debate on the Lieberman-Warner bill, many senators questioned how global warming legislation would impact gas prices. However, we can protect American families from rising fuel costs and reduce greenhouse gases at the same time by providing Americans with alternatives to their cars, so they have to fill up less often."

Groups to World Bank: Clean Means Clean

Washington, D.C. and Bonn, Germany, June 4th, 2008 – Today, 121 groups are issuing a declaration opposing the World Bank's proposal for Climate Investment Funds. The statement comes out during UN Climate Convention talks in Bonn and on the eve of a US Congressional Hearing on the Clean Technology Fund.

Friends of the Earth Welcomes Markey Global Warming Bill

WASHINGTON, D.C. -- Friends of the Earth President Brent Blackwelder responded today to Rep. Edward Markey's announcement of his global warming bill with the following statement: "For years, Congressman Markey has been one of the environment's strongest champions on Capitol Hill. The bill he is announcing today is a strong starting point for debate in the House of Representatives, and we welcome its introduction."