Edwin Gariguez and his colleagues are calling on banks to stop lending, underwriting, and investing on businesses behind new and planned liquefied natural gas terminals in the Verde Island Passage.
A Filipino priest is touring top European banks to demand they curtail ties with companies behind new fossil fuel projects in a region of his home country that is rich in fish and coral. But he is leaving his meetings with bankers feeling frustrated.
Gariguez and his colleagues are calling on banks – including Standard Chartered STAN.L, Barclays BARC.L, Deutsche Bank DBKGn.DE, and UBS UBSG.S – to stop lending, underwriting, and investing in Shell SHEL.L and the conglomerate San Miguel SMC.PS. “It’s really frustrating on my part,” Gariguez said on a stopover in Frankfurt after meetings with Deutsche Bank and DWS DWSG.DE. “We expect accountability and a more meaningful response, but it’s not coming.”
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