BRI, Stop Funding Your Coal Mining!
BRI Managing Director Sunarso stated that the company will limit coal loans at WEF 2022. Until 2023, Bank BRI is still the top 3 bank financing this dirty sector!
BRI’s Commitment to Clean, Coal-Free Financing?
Pioneer of IKBI since 2018
BRI is one of eight banks that launched the Indonesian Sustainable Finance Initiative (IKBI) in May 2018.
USD 1.2 Billion Coal Credit
Despite announcing plans to limit lending to the coal sector in 2022, BRI's financing for the sector has reached USD 1.2 billion to date.
BRI Sustainable Financing
BRI's sustainable financing portfolio for the first quarter of 2024 reached IDR 787.9 trillion.
BRI’s Involvement in Coal Projects
BRI ranks second as the bank that provides the most funding for coal. From 2016 to 2023, BRI's coal financing reached US$4,553.4 million and Rp 2,443 trillion.
BRI is part of a syndicate of five national banks that will finance the construction of the Adaro Group's aluminum smelter project, which uses a captive coal-fired power plant in North Kalimantan. The contract was signed in May 2023.1 BRI's financing in the coal sector for the 2020-2023 period reached US$ 1.2 billion.
Getting in on the Action
Call on BRI to Stop Funding Coal!
Send a tweet to Bank BRI to stop funding coal and switch to funding clean energy in Indonesia!
BCA Bank
BCA's CEO, Jahja Setiaatmadja, stated in March 2024 that BCA will not reduce existing coal loans, but may hold back on new loans.
BNI Bank
The ‘Still Banking on Coal’ report issued by think thank Urgewald (2024) shows that the increase in BNI financing in the coal sector reached 410%.
Bank Mandiri
Bank Mandiri leads a syndicate of five domestic banks financing Adaro Group's aluminium smelter project using captive power plants in northern Kalimantan.
Financial Services Authority
OJK still includes captive power plant financing in the Taxonomy for Indonesian Sustainable Finance (TKBI) document.