Charlotte, NC—An international coalition of shareholders and community leaders from as far away as Bogota, Colombia, will testify to the grave impacts resulting from Bank of America’s financing of the coal industry at the bank’s Annual General Meeting today in Charlotte, North Carolina. Shareholders will also consider a resolution requesting the bank to report carbon emissions stemming from financing of carbon-intensive industries. Coal is the top contributor to greenhouse gas emissions (GHG) that cause climate change.
San Francisco, CA – Today, Rainforest Action Network (RAN), Sierra Club and BankTrack released the fifth annual coal finance report card, “Extreme Investments, Extreme Consequences,” which tracks the financiers of the worst-of-worst coal companies. The report shows that even as high-profile bankruptcies and costly environmental cleanup settlements illustrate the growing risks involved with lending to coal companies, U.S. banks provided $31 billion in financing for coal in 2013.
San Francisco, CA -- As Friday's deadline nears to submit public comments opposing the Keystone XL pipeline, progressive groups CREDO and Rainforest Action Network have collected more than 169,000 comments to the State Department urging Sec. Kerry to reject the Keystone XL pipeline, while simultaneously preparing to unleash a massive wave of civil disobedience if Sec. Kerry allows the State Department to continue ignoring the facts on Keystone XL, and recommends approval of the toxic tar sands pipeline to President Obama.
Washington, DC – On the last day of the public comment period, Keystone XL opponents held a rally in front of the State Department to deliver more than 2 million comments submitted to the State Department to urge Secretary Kerry and President Obama to reject the dirty, dangerous pipeline. The public comment period regarding the national interest of the pipeline began on February 5, after the State Department published the final environmental review.
“We’re hearing from people all across this country who know that the Keystone XL pipeline is absolutely not in our nation’s best interest," said Amanda Starbuck, the Rainforest Action Network's climate program director, in a statement. "The two million comments delivered today reflect a huge wave of resistance to the pipeline.
Amanda Starbuck, climate director for Rainforest Action Network, said in a statement protesters took to the streets in more than 270 cities to "demonstrate their personal opposition to Keystone XL." Groups like hers say there were problems cited by the State Department that suggest the pipeline fails the climate test.
But moving from "wet" handling of ash, such as ponds, to "dry handling," such as lined landfills, has its own costs. According to a 2013 report from the Rainforest Action Network and BankTrack, these costs include capital spending of $10 million to $30 million per plant to convert one type of coal ash, fly ash, from wet to dry handling, and $20 million to $40 million per unit at a plant to convert another type, bottom ash. Closing a pond has stranded asset costs of up to $1 million per acre, the report said.
Hundreds of concerned citizens are expected to flock to Union Square in Manhattan Monday night, braving the ongoing snowstorm to participate in a candlelight vigil to urge President Obama to reject the Keystone XL pipeline.