The reports of King Coal’s demise appear to be exaggerated. At least for now.
Join RAN and help Bank of America become the Bank of Solutions instead of the Bank of Coal!
Over the past 2 years, Bank of America has invested over $4.3 billion in coal. Bank of America is the biggest bank in the United States and the biggest underwriter of the coal industry—bankrolling coal mining, infrastructure investments and coal plants around the country. While Bank of America claims to support environmental responsibility, they continue to lead investments in coal, one of the biggest threats to public health and climate stability.
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As outrage at the country’s largest banks increases with the Occupy Movement and record bank customers move money to credit unions and local banks, RAN finds yet another reason customers should be wary of BoA. Our campaign briefing shines a light on the company as the country’s top financier of the coal industry, in turn, a leading contributor to climate change in the United States.
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In the 1974 classic Roman Polanski neo-noir film Chinatown, private detective Jake Gittes (played by Jack Nicholson) discovers one of LA’s dirty secrets: Wealthy developers are legally stealing precious water from poor struggling farmers in California’s central valley to hydrate the posh homes of Beverly Hills and a rap
Pedestrians in uptown Charlotte were in for a surprise when they stopped to answer a routine question this Saturday: “Have you seen this person? He’s wanted for committing crimes in our community.”
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As outrage at the country’s largest banks increases with the Occupy Movement and record bank customers move money to credit unions and local banks, RAN finds yet another reason customers should be wary of BoA. Our campaign briefing shines a light on the company as the country’s top financier of the coal industry, in turn, a leading contributor to climate change in the United States.
From the cradle to the grave, coal is a risky business. Each stage in the life cycle of coal– extraction, transportation and combustion–presents increasing health, environmental, reputational, legislative and financial risks.
Rainforest Action Network and the Sierra Club’s report card, Policy and Practice, ranks ten of the world’s largest banks on their financing of mountaintop removal (MTR) coal mining projects and lending policies.
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