Business & Finance
Barclays faces UK complaint over financing linked to power plant near Sundarbans
South Asian campaigners allege the British lender failed to conduct adequate human rights and environmental due diligence regarding the Rampal coal facility.
The short version
- Three complainants from Bangladesh and India filed a formal case with the UK's Office for Responsible Business Conduct against Barclays Bank.
- The filing alleges Barclays breached international guidelines by underwriting debt and bonds for entities involved with the Rampal coal-fired power plant near the Sundarbans mangrove forest.
- The UK government body will assess the submission to decide whether to open a formal review, while Barclays and the plant operator declined to comment.
Key facts
- A formal complaint was submitted to the UK Office for Responsible Business Conduct by environmental campaigner Sharif Jamil, farmer Animesh Mandal, and the Dakshinbanga Matsyajibi Forum fish workers union.[The Guardian]
- The complaint alleges Barclays underwrote debt for NTPC Ltd and underwrote bond issuances between 2016 and 2019 for the Export-Import Bank of India, which funded the Rampal power plant.[The Guardian]
- King's College London's Human Rights and Environment Clinic is assisting the complainants in the action against the British bank.[The Guardian]
- Barclays Bank and the Bangladesh India Friendship Power Company Ltd declined to comment on the filing.[The Guardian]
What remains uncertain
- Whether the UK Office for Responsible Business Conduct will formally accept and investigate the submitted complaint remains undetermined.[The Guardian]