At the bank's annual meeting in May, Bank of America Chief Executive Brian Moynihan said a new environmental commitment was in the works. At the same meeting, Moynihan also faced criticism from environmental activists about the banks' underwriting of bonds for coal companies and utilities that burn coal.
Amanda Starbuck, director of the energy and finance program at Rainforest Action Network, on Monday said the group was disappointed with the bank's announcement.
"This new commitment completely skirts that issue and makes no strong commitments around actually reducing the coal, the climate emissions, the fossil fuels the bank is financing," she said.
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go here. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.