Energy Newsroom

Bank of America Meeting Dominated by Anti-Coal Activists

Bank of America (BAC_)'s annual shareholder meeting Wednesday was dominated by speeches from anti-coal activists, prompting CEO Brian Moynihan on at least one occasion to ask whether anyone had anything else to discuss.

"Anyone have a comment other than climate change?" Moynihan said as the meeting approached the two-hour mark. "Let's diversify a bit."

The Street
Thursday, May 9, 2013

Bank of America and Citigroup Biggest Lenders to Coal

Bank of America Corp., Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM) were the top three financiers of the coal industry last year, according to a report today from three environmental groups.

The three banks helped underwrite bonds or loans totaling $8 billion for mountaintop removal coal-mining operations and power plants, or 38 percent of the total $20.8 billion investment for such activities last year, according to the fourth annual Coal Finance Report Card from the Rainforest Action Network, BankTrack and the Sierra Club.

Bloomberg
Monday, April 29, 2013

Activists Arrested in Chicago Urging President Obama to Reject Keystone XL

Release Date: 
Monday, June 17, 2013

High resolution photos at #NoKXL Flickr Gallery

CREDO, RAN & Other 98% Announce First Planned Act of Civil Disobedience to Stop Keystone XL

Release Date: 
Wednesday, June 12, 2013

San Francisco, CA – CREDO, Rainforest Action Network and the Other 98% announced today their first planned act of civil disobedience as part of the Pledge of Resistance to the Keystone XL pipeline. The organizations have begun recruiting activists to participate in a sit in and risk arrest on Monday, June 17th at the State Department office in Downtown Chicago, IL.

New Coal Finance Report Card Exposes Risk of Extreme Energy Investments

Release Date: 
Monday, April 29, 2013

San Francisco, CA – Today, Rainforest Action Network (RAN), Sierra Club and BankTrack released the fourth annual coal finance report card,“Extreme Investments: U.S Banks and the Coal Industry.” The report finds that in 2012 the banking sector financed $20.8 billion for the dirtiest coal companies, even as U.S. coal consumption for power generation fell 11 percent and as mounting scientific evidence confirmed coal’s extreme impact on health and climate change.

Coal and Climate on the Table for BofA in 2013

Release Date: 
Thursday, March 28, 2013

CHARLOTTE—Today, Bank of America announced plans to host its Annual shareholder’s meeting in Charlotte, North Carolina on May 8 amid strong opposition to the bank’s ongoing funding of the coal industry, the leading contributor to climate change pollution in the U.S. While the Charlotte-based bank invests heavily in strategies to bolster its green public image, it remains the top financier of the failing U.S. coal industry.

In response to the announcement, Amanda Starbuck, Director of the Energy and Finance Program at Rainforest Action Network issued the following statement:

Experts Urge Bank of America to Phase Out Coal Investments

Release Date: 
Wednesday, March 20, 2013

For Immediate Release

Study Exposes Human Rights Risks to Banks Tied to Arch Coal

Release Date: 
Wednesday, March 6, 2013

SAN FRANCISCO—A report released today by Rainforest Action Network details risks associated with Arch Coal and its plans to develop a new mountaintop removal coal mine at Blair Mountain in West Virginia.

Rainforest Action Network Supports Appalachian Health Emergency Act

Release Date: 
Wednesday, February 6, 2013

WASHINGTON, DC—Today lawmakers in the US House of Representatives introduced the Appalachian Community Health Emergency Act (ACHE Act, HR 526) to protect Appalachian families and communities from the nation’s most extreme form of coal mining, mountaintop removal.

Selenium Pollution at Coal Mines Could Spell Trouble at Alpha

Release Date: 
Monday, February 4, 2013

Click here for executive summary and to download

SAN FRANCISCO—New research released today in a Coal Risk Update by the Rainforest Action Network (RAN) details how selenium discharges could expose Alpha Natural Resources to financial risks from water contamination at mountaintop removal mines. In 2012, environmental groups filed four separate lawsuits alleging repeated pollution violations at mine outfalls that could cost the company millions.