Marathon Sponsor Accused of Financing Pollution of Chicago’s Air
CHICAGO—This weekend when 45,000 runners join the Bank of America-funded Chicago marathon, the route will take them past one of the city’s dirtiest and most controversial coal plants, the Midwest Generation Fisk plant, which is also financed by the bank. The environmental group Rainforest Action Network has found that just last year Bank of America provided $66 million in financing to Edison International and its subsidiary Midwest Generation.
SAN FRANCISCO— Bank customers around the country have an opportunity to show their discontent with the big banks by pledging to close their Bank of America accounts as part of a new effort launched today from Rainforest Action Network. The ‘not one more dollar’ pledges will be bundled—much like the big banks packaged mortgages for sale—and presented to Bank of America executives in protest of the bank’s funding of coal, the country’s number one contributor to climate change. (1)
Rainforest Action Network and Amazon Watch Statement
NEW YORK—Yesterday, a US court dealt Chevron a severe blow after lifting a ban on an $18bn judgment against the oil giant for contaminating the Amazon. A New York appeals court vacated a lower court's order that had blocked Ecuadorean plaintiffs from collecting money in a long-running lawsuit over pollution in their Amazon rainforest home.
In February, a judge in Ecuador ruled that Chevron should pay to clean up contamination in the oil fields where Texaco, bought by Chevron in 2001, once worked.
With Chevron Corp. set to hold its annual shareholder meeting this morning, a global network of the company's critics on Tuesday released a report accusing the oil giant of environmental crimes around the world.
A big banner with the words "Chevron Guilty: Clean Up Amazon" fluttering under Richmond-San Rafael bridge on Monday morning, hung by 5 environmentalists who have accused the energy giant of causing rainforest pollution in Amazon, have got them into trouble.
The environmental activists including Amazon Watch finance manager Thomas Cavanagh were all arrested by Marin California Highway Patrol officers.
It happened two days before a scheduled Chevron shareholder meeting at San Ramon Chevron corporate headquarters.
Among the developments this week at Chevron’s raucous annual shareholder meeting—some surprising, some not so—was the oil company’s continuing refusal to settle an $18 billion lawsuit over oil pollution in Ecuador.
A letter from New York state comptroller Thomas DiNapoli and several investor groups urged Chevron to settle case, which has dragged on in various forms since 1993.
SAN RAMON -- Activists besieged Chevron at its shareholders meeting here Wednesday, in a gathering punctuated by shouts from attendees, warnings the event would be terminated early and interventions by security guards.
The acrimony at the annual meeting nearly obscured the company's discussion of a performance in 2010 that produced a gusher of profits and a jump in the oil giant's stock price.
"We had a tremendous year," Chevron's chief executive officer, John Watson, told the shareholders.
Yesterday, along with hundreds of millions of Americans, you likely settled up your taxes formally with the IRS. Incredibly, most of the biggest and most profitable finance and energy companies in the country are paying far less than their fair share. Last, month, Alex wrote about the most startling—and highest profile—incident involving GE, the country's largest corporation.