“We’re the greenest bank in the business,” claims Pittsburgh, Pennsylvania-based PNC bank (PNC:US) on its web site. “We’re a company committed to lighting the path to a greener way of doing business and a greener way of life.”
SAN FRANCISCO—Within the last two years, Bank of America, Citi, JPMorgan Chase, and Wells Fargo along with Credit Suisse and Morgan Stanley have successively passed public policies limiting their financial relationships with coal operators that practice mountaintop removal (MTR) coal mining. These banks were the lead financiers of the practice prior to their policy shifts. Last month, Wells Fargo became the fourth top US bank to adopt a position limiting MTR financing.
BofA Cutting Off Financing for Mine Operator; UBS Remains Large Lender
Massey Energy, owners of the West Virginia mine that exploded Monday, has drawn criticism for an array of safety violations and environmental issues over the years -- so much so that even some big Wall Street banks refuse to finance the Richmond, Va.-based company.
Houston, TX – As a judgment looms in a monumental 17-year legal battle over oil contamination in Ecuador, affected communities and their allies are challenging Chevron’s Board of Directors to intervene in the company’s dead-end strategy of covering up its massive liability
The corporate annual report - that glossy, seldom-read staple of the business world - usually features upbeat words and images showcasing a company's stellar year.
The "True Cost of Chevron" alternative annual report, in contrast, features a cover photo of an oil spill.
Released Wednesday by a coalition of Chevron Corp.'s fiercest critics, the report pillories the San Ramon oil company for pollution and alleged human rights abuses around the globe, in places as disparate as Ecuador, Burma, Texas and Richmond.
Emergildo Criollo traveled to California recently from his indigenous village in Ecuador to the home of Chevron’s new CEO John Watson and then to a meeting with state lawmakers, demanding that the oil giant Chevron “… take responsibility for their actions and clean up our rivers and forests – our homes.”