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October 16, 2015

Reuters: Green worries keep foreign banks away from $3.3 billion Coal India sale

"The pressure in a country where economic growth frequently trumps environmental concerns comes at a convenient time for banks. Many operating in India are under pressure to be more selective when it comes to roles that are heavy on staff but light on returns. The government pays a fee of just 1 rupee ($0.015)."

"Campaigners at Greenpeace and the Rainforest Action Network (RAN), among the groups pressuring banks, said the banks were responding to sustained campaigns against coal and Coal India."

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