Barclays faces complaint over backing for power plant near world’s largest mangrove forest
Summary
Barclays Bank is facing a complaint for financially supporting a coal power plant near the Sundarbans, the world’s largest mangrove forest in Bangladesh and India. The complainants say Barclays did not properly check the environmental and human risks before backing the project, which threatens local wildlife, including Bengal tigers, and communities.Key Facts
- Barclays helped fund the Rampal coal power plant near the Sundarbans, a UNESCO world heritage site.
- The Sundarbans is a large mangrove forest home to many species and millions of people depending on the ecosystem.
- Complaints say Barclays broke international rules by supporting companies involved in a project that pollutes air and water.
- Heavy metals like mercury and arsenic have been found in the water around the power plant, threatening the forest and wildlife.
- Barclays underwrote debt for NTPC Ltd, a company involved in the plant, and bonds for the Export-Import Bank of India, which lent money for the project.
- The plant’s emissions contribute to climate change and put the region at risk from rising seas and extreme weather.
- UNESCO and some banks opposed the project due to its likely environmental harm, but Barclays continued support.
- Experts urge Barclays and other banks to stop financing fossil fuel projects and invest more in renewable energy like solar power.
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