Global Risks Finance accounts for Climate Emergency – is your bank involved?

23 October 2019

NB It is believed that the main banks have withdrawn funding for the Derby/Derbyshire incineration plant, however this has not been confirmed and both Derby City and Derbyshire County Council have said that they are continuing to try to find otheR WAYS TO RE-OPEN IT, DESPITE REDUCTION, REUSE, RECYCLING & COMPOSTING BEING CHEAPER; SEE PAGE)’.

LATEST FROM RENEWI CEO ON THE FAILED DERBY/DERBYSHIRE INCINERATOR (CURRENTLY CLOSED BUT EXPECTED TO RE-OPEN, ONCE OTHER ‘PARTNERS’ ARE FOUND)

In its 2019 annual report, Renewi chief executive Otto de Bont identified issues with the company’s municipal waste division which has accrued €98 million ($111 million) of losses.

He said at the time: “In the municipal division, our main challenge is the Derby facility.” He added: “Following the failure of our partner, Interserve, to commission the new Derby facility, we have now provided for the complete termination of the PPP contract.”

He continued: “Recognising the significant risks that the facility cannot be commissioned in a timely way, we have written off our historic €40 million investment in the Derby project, taken a €7.6 million provision for ongoing losses and assumed termination costs in the event that the contract comes to an end, and have provided €11.6 million against delay damages which we believe are owed to us by Interserve but which remain outstanding.”

Renewi – alongside the collapsed company Interserve – reached financial close in 2014 on the PPP project. Interserve went into administration earlier this year (15 March, 2019) and its creditors took control of the company.

The following banks continue being misled…

Lloyds, Bank of Ireland, Green Investment Group, (Foresight Group) MacQuarie, Sumitomo Mitsui Banking Corporation and BayernLB Bank are among the banks to fund 4.3 MILLION tonnes of CO2, Deaths Brought Forward causing, dioxin/nitrogen dioxide/heavy metals emitting, Derbyshire RRS/Shanks/Renewi/Interserve incineration plant. NB also sometimes called-‘waste to energy’ or ‘energy from waste. Mass balance reveals that ‘EfW’ incinerators waste more energy then the tiny amount created, (if at all, they’re mainly for disposal) Deloitte, Price Waterhouse Coopers, Evershed LLP and Jardines are among the consultants that set up the high-carbon-trading incineration contract. The Derbyshire incineration plant alone will emit 4.3 MILLION TONNES OF CO2 over its 25 year ‘lifespan’.  Over 50 such burners are planned for the UK and are touted worldwide as ‘low-carbon’ and ‘energy transition’ BayernLB Bank has Ministers on the carbon trading committee. Handy. ALL such ‘waste’ incineration plants are high carbon. (Also called CHP/combustion etc) Contracts for incinerators reveal they need fossil-fuel plastics to burn (see PWC/Deloitte page for contracts extract) in stark contrast to the claim of being ‘low-carbon’. Cheaper reduction, reuse, recycling and composting have to end, to feed the incineration contracts ‘calorific’ and ‘organic’ values. NB Derby city 50% recycling rate dropped to less than 35% in the same year the contract was signed. No coincidence

Public Health England intend to use base level indicators of high child mortality for their new studies on birth defects, infant mortality, in the vicinity of ‘modern’ incinerators. Sinfin’s child mortality rate is the highest in the city, as well as suffering the highest stillbirth rates, lowest birthweight, highest rate of asthma in children. The evidence of nano-particles, for which there is no filtration system, is here –  https://eplanning.derby.gov.uk/acolnet/DocumentsOnline/documents/29079_177.pdf. In the very near future we will be able to pinpoint EXACTLY which companies and processes were involved.

Here are sample letters for you if you’re with some of the above banks/thinking of joining them and want to write and tell them what you think…

—Sumitomo Mitsui, Japan – Chairman takeshi_kunite@smbcgroup.com, Chief Executive Officer jun_ohta@smbcgroup.com, koichi_miyata@smbcgroup.com, makoto_takashima@smbcgroup.com. Sumitomo Mitsui UK – CEO tetsuro_imaeda@smbcgroup.com

Dear Chairman Takeshi Kunibe, CEO Jun Ohta, Koichi Miyata, MakotoTakashima, Tetsuro Imaeda

The demand for climate-related information is growing. Understanding that inadequate information can lead to the mispricing of assets and a misallocation of capital, more and more financial decision makers are demanding information on the business risks and opportunities associated with climate change.

In 2015, at the request of the G20 Finance Ministers and Central Bank Governors, the Financial Stability Board (FSB) and its chair Mark Carney established the industry-led Task Force on Climate-related Financial Disclosures (TCFD).

In line with the TCFD guidelines, we enclose information on the high-carbon Derby/Derbyshire Renewi incineration plant, and ask that you reconsider the funding of over 4.3 million tonnes of CO2 that the incinerator will emit over its 20 year lifespan. https://derbyfoe.com/co2-from-plastics-biomass-incineration-wid-definition/ Mass balance reveals more energy wasted, than the tiny amount created; incineration is energy-inefficient and also wastes water, up to 20 Olympic swimming-pools worth, daily.

In addition to carbon dioxide, the plant will emit nitrogen dioxide, in a designated Air Quality Management Area and dioxin, amongst many other pollutants. https://derbyfoe.com/nitrogen-dioxide-emissions-from-so-called-waste-to-energy-incineration/

https://derbyfoe.com/dioxin-from-plastics-biomass-incineration/

The company has admitted that particulates from the incinerator will cause Deaths Brought Forward

https://derbyfoe.com/human-rights-shanks-renewi-macquarie-green-investment-group-et-al-plastics-biomass-incineration/

The contracts also end cheaper resource reduction, reuse, recycling, composting and the circular economy. https://derbyfoe.com/pwc-deloitte-global-risk-plastics-biomass-waste-contracts-end-circular-economy/

Composting biowaste eg organics, foodwaste, – (instead of burning, also called ‘bioenergy’ )- results in a better form of compost which sequesters carbon, alleviates floodrisk and water run-off, reduces use of artificial fertiliser which leads to less run-off resulting in algal ocean blooms, improves soil structure leading to less desertification, aids world hunger through increasing food yields more sustainably.

In its 2019 annual report, Renewi chief executive Otto de Bont identified issues with the company’s municipal waste division which has accrued €98 million ($111 million) of losses.

He said at the time: “In the municipal division, our main challenge is the Derby facility.” He added: “Following the failure of our partner, Interserve, to commission the new Derby facility, we have now provided for the complete termination of the PPP contract.”

He continued: “Recognising the significant risks that the facility cannot be commissioned in a timely way, we have written off our historic €40 million investment in the Derby project, taken a €7.6 million provision for ongoing losses and assumed termination costs in the event that the contract comes to an end, and have provided €11.6 million against delay damages which we believe are owed to us by Interserve but which remain outstanding.”

Renewi – alongside the collapsed company Interserve – reached financial close in 2014 on the PPP project. Interserve went into administration earlier this year (15 March, 2019) and its creditors took control of the company.

Please also see Miyake,Y., A.Yura et al ‘Relationship between distance of schools from the nearest municipal waste incineration plant and child health in Japan” Eur J Epidemiol 20(12): 1023-9, https://link.springer.com/article/10.1007/s10654-005-4116-7 which found that schoolchildren within 4km of a municipal waste incinerator suffered ill health effects. There are 55 schools within 4km of the Derby/Derbyshire Renewi incineration plant.

and

‘Body burdens of heavy metals in children living close to an incinerator’ 16/5/2019 – https://www.sciencedirect.com/science/article/pii/S0045653519309129?dgcid=rss_sd_all

From Sumitomo Mitsui Corporate website “Today, mankind is faced with diverse issues such as global warming, rapid population growth, and declining birthrate and aging of the population in the advanced countries. How can we, as a provider of comprehensive financial services, contribute to resolving such social issues for the sustainable development of the society. We believe that it would be our corporate social responsibility to practice by asking ourselves what we could and should do.”

We recognise that Sumitomo Mitsui has a serious commitment to corporate social responsibility and we request that the bank investigates the funding of such unsustainable development, which leads to environmental destruction and pollution; worsened for future generations.

Yours sincerely

—–

Green Investment Bank Atria One Level 7 144 Morrison St Edinburgh EH3 8EX 

Dear Mr Daniel Wong

This is to ask your bank to withdraw funding for the Derbyshire incineration plant, destined for Sinfin Lane in Derby and which will cause Deaths Brought Forward, is high-carbon- producing over 172,000 tonnes of carbon dioxide each year, polluting, – will add to air pollution in a designated Air Quality Management Area and Derby City Council has admitted that air quality will worsen because of the stack and associated traffic.

Derby City Council has also acknowledged that the life expectancy of Derby people – already a full year less than the national average, will not improve if air quality does not improve.

The incineration contract, (signed through Eversheds LLP, with Shanks and Resource Recovery Solutions) also ensures the dismantling of recycling, as the 13000 tonnes monthly the incinerator needs, is to be of a certain ‘organic’ and ‘calorific’ value. As you know, residual waste – after full recycling has been carried out – does not have these ‘values’.

Derby City Council and Derbyshire County Council have also revealed, in a PFI bid to DEFRA that incineration is unaffordable and that recycling is cheaper. 

You may not know that RRS/Shanks has revealed intent to cause Deaths Brought Forward’ because of pollution from the incinerator, in people who are seriously ill. The actual quote from RRS/Shanks Pg55.7 para 7.5.29:

“In order to convert Deaths Brought Forward (DBF) in life expectancy, the Committee on the Medical Effects of Air Pollution provided an estimate of an average two to six month loss of life expectancy per Death Brought Forward, in its 2001 report.”

and para 7.5.32

‘It is important to note that an increased risk of mortality and morbidity due to elevated PM10 (particulate) exposure is small and limited to a fraction of a population which is already in poor health. As such, the term DBF does not constitute new/additional deaths but a reduction in life expectancy for those whose health is already seriously compromised.’  

The Human Rights Act states that, no-one shall be deprived of their life intentionally.

Your bank has, as part of its Corporate Responsibility Statement, a pledge to be green; meaning you help to resolve issues of climate change and human health, not  worsen the effects. Over 4.3 MILLION tonnes of carbon dioxide are to be emitted  from the Derbyshire incineration plant over its 25 yr lifespan. If you are to be involved in a high-carbon trading scheme you will also be trading Deaths Brought Forward

A complaint is also being made to the United Nations.

Yours sincerely

———

Director Lloyds Bank 25 Gresham St London EC2V 7HN 

Dear Mr Horta-Osório  

Dear Mr Horta-Osario

The demand for climate-related information is growing. Understanding that inadequate information can lead to the mispricing of assets and a misallocation of capital, more and more financial decision makers are demanding information on the business risks and opportunities associated with climate change.

In 2015, at the request of the G20 Finance Ministers and Central Bank Governors, the Financial Stability Board (FSB) and its chair Mark Carney established the industry-led Task Force on Climate-related Financial Disclosures (TCFD).

In line with the TCFD guidelines, we enclose information on the high-carbon Derby/Derbyshire Renewi incineration plant, and ask that you reconsider the funding of 4.3 million tonnes of CO2 that the incinerator will emit over its 20 year lifespan. https://derbyfoe.com/co2-from-plastics-biomass-incineration-wid-definition/ Mass balance reveals more energy wasted, than the tiny amount created, as the plant is energy-inefficient.

In addition to the carbon dioxide, the plant will emit nitrogen dioxide, in a designated Air Quality Management Area and dioxin, amongst many other pollutants. https://derbyfoe.com/nitrogen-dioxide-emissions-from-so-called-waste-to-energy-incineration/

https://derbyfoe.com/dioxin-from-plastics-biomass-incineration/

The company has admitted that particulates from the incinerator will cause Deaths Brought Forward

https://derbyfoe.com/human-rights-shanks-renewi-macquarie-green-investment-group-et-al-plastics-biomass-incineration/

The contracts also end cheaper resource reduction, reuse, recycling, composting and the circular economy. https://derbyfoe.com/pwc-deloitte-global-risk-plastics-biomass-waste-contracts-end-circular-economy/

In its 2019 annual report, Renewi chief executive Otto de Bont identified issues with the company’s municipal waste division which has accrued €98 million ($111 million) of losses.

He said at the time: “In the municipal division, our main challenge is the Derby facility.” He added: “Following the failure of our partner, Interserve, to commission the new Derby facility, we have now provided for the complete termination of the PPP contract.”

He continued: “Recognising the significant risks that the facility cannot be commissioned in a timely way, we have written off our historic €40 million investment in the Derby project, taken a €7.6 million provision for ongoing losses and assumed termination costs in the event that the contract comes to an end, and have provided €11.6 million against delay damages which we believe are owed to us by Interserve but which remain outstanding.”

Renewi – alongside the collapsed company Interserve – reached financial close in 2014 on the PPP project. Interserve went into administration earlier this year (15 March, 2019) and its creditors took control of the company.

Lloyds Corporate Responsibility statement includes the following “For 2019, we’re also prioritising actions to help the UK transition to a low carbon economy.” 4.3 million tonnes of carbon dioxide is not low carbon or net zero, which the UK Government espouses.

Derby city and Derbyshire county councils have both declared a climate emergency.

Yours sincerely

——–

Head of Finance, Bayern Bank LB p and info@bayernlb.de

Dear Dr Wolf Schumacher and Bayern LB Board members

I am one of your customers/thinking of joining your bank (delete as appropriate) /have recently read of your bank’s Corporate Responsibility Statement (CRS), which states: – 

“Without an ecologically and socially compatible economic strategy, long-term benefits for society at large would not be possible. We therefore take into account ecological and social issues along the entire value chain in order to meet our corporate responsibility goals. We mainly take our lead from global and societal megatrends: Demographic change, shortage of resources, climate change and globalisation” 

I was pleased to see such strong words. However, I have learned of Bayern LB involvement in the planned Derbyshire UK incineration plant, in Sinfin, Derby.

This is high-carbon, – 4.3 MILLION tonnes of carbon dioxide over the plants 25 year ‘lifespan’ –  unsustainable, polluting and an experiment on future generations.

I quote Owen Paterson Minister for the Environment ‘study health statistics to investigate whether there is a link between waste incinerators and birth outcomes, including any possible link between municipal waste incinerator emissions and babies born with congenital anomalies in areas where good quality data are available.’ The destination for the incinerator – Sinfin – contains a high number of stillbirths and the highest levels of child mortality, in the city of Derby. The baseline of ‘good quality data’ is thus abhorrently available.

You can see from this study, the evidence of heavy metal emissions on the foetus. Heavy metals and particulates are also emitted during waste incineration.   https://eplanning.derby.gov.uk/acolnet/DocumentsOnline/documents/29079_177.pdf 

You may not know that the developer RRS/Shanks has reealed intent to cause Deaths Brought Forward’, because of pollution from the incinerator and associated traffic, in people who are seriously ill. The actual quote from RRS/Shanks Environmental Statement Pg55.7 para 7.5.29 In order to convert Deaths Brought Forward (DBF) in life expectancy, the Committee on the Medical Effects of Air Pollution provided an estimate of an average two to six month loss of life expectancy per Death Brought Forward, in its 2001 report.” and para 7.5.32 ‘It is important to note that an increased risk of mortality and morbidity due to elevated PM10 (particulate) exposure is small and limited to a fraction of a population which is already in poor health. As such, the term DBF does not constitute new/additional deaths but a reduction in life expectancy for those whose health is already seriously compromised.’   They appear to believe that because people are seriously ill, it does not matter that they may die earlier than their lifespan course.

The Human Rights Act states that, no-one shall be deprived of their life intentionally.   Bayern LB’s statement cannot surely include  Deaths Brought Forward or the effects of combustion on birth outcomes, .to be a ‘long-term benefit’ for society at large, as well as worsening climate change. In the very near future we will be able to pinpoint EXACTLY which companies and processes were involved.

It is hard to believe that Bayern LB would be involved in this incineration plant, without fully taking into account the ‘ecological and social issues’ as promised in the CRS and I hope that this may be an oversight.

I have also seen that three Ministers are on the carbon-trading committee of the Bayern Bank – surely Ministers will not trade-off Deaths Brought Forward, for carbon credits?

I look forward to your reply.  

yours sincerely

The Chairman Bank of Ireland 1 Donegal Square South Belfast BT1 5LR

Dear Chairman Mr Patrick Kennedy

I am a customer of Bank of Ireland/ am considering opening an account at Bank of Ireland] BUT I have recently read that your bank funds the  Derbyshire incineration plant, claimed to be ‘energy-from-waste’ but which will actually emit 4.3 MILLION tonnes of CO2 and is wasting more energy in the process, than is actually created.

You may not know that the developer RRS/Shanks has revealed intent  to cause ‘Deaths Brought Forward’ because of pollution from the incinerator, in people who are seriously ill.

The actual quote from RRS/Shanks is ‘Pg55.7 para 7.5.29

“In order to convert Deaths Brought Forward (DBF) in life expectancy, the Committee on the Medical  Effects of Air Pollution provided an estimate of an average two to six month loss of life expectancy per Death Brought Forward, in its 2001 report.”

and para 7.5.32

 ‘It is important to note that an increased risk of mortality and morbidity due to elevated PM10 (particulate) exposure is small and limited to a fraction of a population which is already in poor health. As such, the term DBF does not constitute new/additional deaths but a reduction in life expectancy for those whose health is already seriously compromised.’

The carbon dioxide emissions from the planned Derbyshire incineration plant will be over 172,000 tonnes EACH YEAR, in total 4.3 MILLION tonnes of CO2, from a supposedly ‘low carbon’ incinerator. This is underestimated because recycling collections are currently being destroyed, to feed the waste incineration contract tonnages.

Your Corporate Responsibility Statement includes ‘our continued success as a commercial enterprise is dependent on maintaining its strong track record as a responsible corporate citizen.’

Funding 4.3 MILLION tonnes of carbon dioxide and Deaths Brought Forward’ is not ‘Recognising ‘the importance of wider social, ethical and environmental considerations’ to be ‘factored into our business decisions’

Yours sincerely