Minneapolis, Minn. – As the Twins pulled into the eighth inning of their closing home game against the Texas Rangers, the crowd was treated to a few unscheduled advertisements. Instead of Cargill’s usual announcements promoting hot dogs, a large banner, hung by activists from the Rainforest Action Network (RAN), was unfurled from behind home plate, making Cargill’s usual advertisement change to read “Cargill Destroys Rainforests.” Fans started chattering in the stands as the banner was held until stadium officials asked activists to take it down. No one was arrested.
After playing dead on top of oil-black plastic sheets outside a Chevron office, protesters marched through downtown San Francisco on Monday to denounce “oil addiction” on the fifth anniversary of Hurricane Katrina, as the U.S. Gulf Coast recovers from its more recent disaster.
Blasting off mountaintops to reach coal in Appalachia or churning out millions of tons of carbon dioxide to extract oil from sand in Alberta are among environmentalists’ biggest industrial irritants. But they are also legal and lucrative.
Environmentalists on Friday criticized a decision by agribusiness giant Cargill Inc to continue buying palm oil from Indonesian firm PT Smart Tbk after SMART received a mixed score in a green audit.
Greenpeace has alleged in its reports that SMART -- which is controlled by Indonesia's Widjaja family, owners of the Sinar Mas conglomerate -- cleared forests in Kalimantan without completing the proper paperwork and destroyed carbon-rich peatlands.
“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 – In the wake of an audit confirming accusations of environmental abuses by the controversial Indonesian palm oil supplier Sinar Mas, Cargill has announced a decision to continue business as usual relations with the disgraced palm oil provider. Posted only as an update to a section of their website, Cargill’s decision is an unexpected step after months of public expectation that the company would sever ties with the large Indonesian palm oil producer.
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.