Pages tagged "coal"


World’s Top Coal-Financing Banks Still Won’t Touch Abbot Point

 

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This week, BankTrack launched their latest report on the top coal-financing banks in the world. The ranking, topped by JPMorgan Chase and Citigroup, includes several other U.S. banks in the top 20 based on their total financing for coal mining and coal-fired power since 2005.  

As the piece we’ve cross-posted below notes, it’s telling that even the top financiers of coal in the world have decided to stay away the proposed coal terminal expansion at Abbot Point on the Great Barrier Reef. But unfortunately, even though most of their competitors have concluded that expanding Abbot Point would be a disaster for the climate and the reef, Bank of America still hasn’t gotten the message.

By Ben Collins (RAN), Yann Louvel (BankTrack) and Julien Vincent (Market Forces), cross-posted from RenewEconomy:

The proposed expansion of the Abbot Point coal export terminal is running out of friends in the banking world. This week’s news that U.S. giants Citigroup, Goldman Sachs, and JPMorgan Chase will not finance the proposed coal export terminals at Abbot Point bring the total number of banks to have made this commitment to nine. Even Morgan Stanley, currently in business with Adani over the partial sale of the existing coal export terminal at Abbot Point, acknowledge the environmental risks associated with the proposed new terminals and won’t provide funding to expand the coal port.

And a new report from global banking watchdog BankTrack underlines the significance of these commitments.

The report lists the top twenty global banks in terms of their investments in the coal industry over the past decade. Leading the list are JPMorgan Chase, Citigroup, the Royal Bank of Scotland and Barclays, having financed the global coal industry to the tune of US$105 billion since 2005.

However, these major coal-funding banks are also doing something good.

They have all signalled that they are not going to fund the proposed expansion of the Abbot Point coal port, the focal point for exports out of what would be a series of new mega coal mines proposed in Queensland’s Galilee Basin.

It says a lot about the unacceptability of the proposals to build two massive new coal export terminals in the Great Barrier Reef World Heritage Area that banks with the strongest record of financing the sector have all opted out. In fact, six of the top ten and nine of the top twenty coal funding banks have now stated that they don’t plan to fund the expansion of Abbot Point, although holdouts such as U.S.-based Bank of America have so far refused to state their position on financing Abbot Point.

Despite poor market conditions, high costs and the massive outpouring of concern over the environmental impacts of their projects, Indian companies GVK and Adani remain hell-bent on opening up the Galilee Basin in Queensland. When we say “mega” coal mines, we really mean it. The smallest is as large as Australia’s biggest operating coal mine and the largest, twice the size. All of the proposals in the Galilee Basin would produce enough coal to chew up 7% of the world’s remaining carbon budget, drastically reducing our chances of keeping a lid on global warming.

Adding insult to environmental injury, the coal would be shipped out through new coal export terminals to be built in the Great Barrier Reef World Heritage Area, turning the region into a coal shipping superhighway. All for the sake of feeding the world dirty and expensive fuel when renewable energy options are already more economically viable.

The more international banks acknowledge that building coal ports in the Great Barrier Reef to massive expand exports is a bridge too far, the sharper it brings Australia’s “big four” banks into focus.

report last week from the Institute for Energy Economics and Financial Analysis confirmed that if the Galilee Basin mega mines are going to go ahead, they would need the support of the likes of ANZ, Commonwealth Bank, NAB and Westpac. Historically, these banks have loaned the most money and taken part in far more fossil fuel deals than any other bank, so their importance to financing the new mega mines and coal export terminals in the Reef is obvious.

So far, the banks have been coy about saying anything about the proposals to expand coal exports through the Great Barrier Reef, falling back on sustainability policies that have, in recent years, seen them lend nearly $20 billion to fossil fuels. It has created an absurd situation where banks headquartered in Paris, London, and New York are doing more to stand up and defend the Reef than Australian banks.

It is already costing the banks. Several thousand customers have so far joined the rapidly growing divestment movement, moving to other banks in protest of the big four’s massive lending to the fossil fuel industry. And thousands more, worth hundreds of millions of dollars, sit in waiting, ready to shift their business based on whether the Australian banks will stand up and defend the Reef or fund its demise.


Groups to Bank of America: Don't Finance Great Barrier Reef Destruction

FOR IMMEDIATE RELEASE

October 30, 2014

 

contact:

Claire Sandberg, Rainforest Action Network, claire@ran.org, 646-641-6431

Joe Smyth, Greenpeace, 831-566-5647, joe.smyth@greenpeace.org

Groups to Bank of America: Don’t Bankroll Reef Destruction

Australian coal port threatens global climate, Great Barrier Reef

San Francisco—An international coalition of groups called on Bank of America to rule out financing the controversial Abbot Point coal port in Queensland, Australia, days after three major U.S. investment banks pledged to steer clear of the project. Citigroup, JPMorgan Chase, and Goldman Sachs all issued public-facing statements vowing not to finance the expansion of Abbot Point, but Bank of America has so far refused to take a position. The project would significantly harm the Great Barrier Reef--construction of the new port would require dredging part of the Great Barrier Reef World Heritage area--and would drive global climate change by drastically increasing carbon emissions.

"Not only do numerous reports show that the Galilee Basin projects are poor investments, but groups in India, such as Conservation Action Trust, have stated that exporting Australian coal to be burnt in India will threaten the health and livelihoods of people in India. These projects are not just bad for people, they are bad business.,” said Sierra Club International Campaign Representative Nicole Ghio.

"Smart investors understand that dumping money into speculative coal mining and export projects makes no sense, especially as the largest coal consuming countries begin to move away from coal to reduce air pollution and carbon emissions," said Kelly Mitchell, Greenpeace USA energy campaign director, "The Abbot Point expansion would serve the interests of a shrinking and desperate coal industry, at the expense of one of the great natural treasures of the world. Bank of America should promise not to finance it, and avoid this risky and extremely controversial coal export proposal."

“We've seen the world's biggest banks in the U.S. and Europe abandon the Abbot Point Coal Port project one by one. These banks understand that financing the project would devastate the Great Barrier Reef and unleash one of the world's largest stores of carbon. Bank of America needs to act responsibly, and commit to not financing the destruction of the Great Barrier Reef as well,” said Paul Ferris, SumOfUs Campaigns Director.

“Bank of America has publicly stated its commitment to accelerate the transition from high-carbon to low-carbon energy societies,” said Alex Levinson, executive director of Pacific Environment. “But if it bankrolls the destructive Abbot Point coal port expansion, the only thing it will accelerate is global climate change.”

“It’s unbelievable that in the midst of a climate emergency, Bank of America would even consider bankrolling a carbon bomb on the scale of the Alberta tar sands. On top of it, Abbot Point poses an immediate threat to one of the world’s most diverse ecosystems, the Great Barrier Reef. Bank of America needs to join the rest of its peers by rejecting this terrible project immediately,” said RAN Climate and Energy Program Director Amanda Starbuck.

Earlier this year, Bank of America proclaimed that “society needs to transition from high-carbon to low-carbon energy, and the bank has a responsibility to accelerate this transition.” Last month, Bank of America CEO Brian Moynihan reiterated the bank’s commitment to climate action when he spoke at the U.N. climate summit in New York. But Bank of America’s stated environmental position clashes starkly with the bank’s refusal to rule out bankrolling the expansion of Abbot Point.

Building a new, larger export facility at Abbot Point is a key component of the plan to dramatically increase coal production in Australia’s Galilee Basin, one of the largest stores of carbon in the world. If the plan goes forward, Australia’s coal exports would likely double, and make the the country the number one coal exporter in the world. The proposed expansion has strong backing from the Australian government, but will require financial support from global investment banks to move ahead. Five major European banks (Deutsche Bank, Royal Bank of Scotland, HSBC, Barclays, and Credit Agricole) publicly ruled out investment in Abbot Point earlier this year after months of campaigning from an international coalition. That group was joined yesterday by U.S. banks Citigroup, JPMorgan Chase, and Goldman Sachs, which issued public-facing statements as evidence of their commitments.


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Tell Bank of America: Don't Finance the Destruction of the Great Barrier Reef

The coal industry is trying to move forward with a deal that would threaten Australia’s treasured Great Barrier Reef and turbocharge climate change—but they can’t do it without major financial backing. Three of the biggest Wall Street investment banks have said they won’t fund the deal.1 But Bank of America won’t commit to staying away.

Tell Bank of America—don’t finance the destruction of the Great Barrier Reef!

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Right now, the coal industry is pushing an incredibly destructive plan: to build out one of the biggest coal ports in the world right in the middle of the Great Barrier Reef. A huge corporation called Adani is attempting to dredge 3 million cubic meters of seabed, wrecking part of the biggest stretch of coral reef in the world and one of the planet’s most biodiverse ecosystems. 

The Great Barrier Reef is home to thousands of species, including the endangered Green Sea Turtle, and it’s a crucial area for humpback whales giving birth and raising their young. Expanding Abbot Point coal terminal and massively increasing dangerous coal ship traffic would put a global treasure—in fact, a protected World Heritage Site—at grave risk.

It would also cook the climate. The coal industry wants to build out Abbot Point so it can dig new mega-mines in a vast reserve called the Galilee Basin. That would double coal production in Australia, already the world’s second-biggest coal exporter. Unbelievably, in the midst of a climate emergency, Bank of America is considering bankrolling a carbon time-bomb on the scale of the Alberta tar sands. 

Without the backing of major financial institutions, this deal cannot go ahead. Tell Bank of America to stay away from the Abbot Point coal port expansion.

For the last two months, RAN has been working behind the scenes, asking the biggest Wall Street investment banks to commit to not finance reef and climate destruction. An international coalition of environmental groups has joined the fight, and tens of thousands of you added your voices to a petition calling on Wall Street to stay away from this reckless deal. 

Your pressure is working! In the last three weeks, we’ve won public commitments from three of the biggest Wall Street banks—Goldman Sachs, JPMorgan Chase, and Citigroup—to not finance the Abbot Point terminal expansion.

But Bank of America is still holding out. Tell them to commit: don’t fund a deal that would wreck the Great Barrier Reef and cook the climate!


RAN to Bank of America: Don’t Bankroll Reef Destruction

FOR IMMEDIATE RELEASE

October 28, 2014

 

contact:

Claire Sandberg, claire@ran.org, 646-641-6431

 

RAN to Bank of America: Don’t Bankroll Reef Destruction

Australian coal port threatens global climate, Great Barrier Reef

 

San Francisco—Rainforest Action Network (RAN) called on Bank of America to rule out financing the controversial Abbot Point coal port in Queensland, Australia, a day after three major U.S. investment banks pledged to steer clear of the project. Citigroup, JPMorgan Chase, and Goldman Sachs all assured RAN in writing that they would not finance the expansion of Abbot Point, but Bank of America has so far refused to take a position. The project would significantly harm the Great Barrier Reef--construction of the new port would require dredging part of the Great Barrier Reef World Heritage area--and would drive global climate change by drastically increasing carbon emissions.

Earlier this year, Bank of America proclaimed that “society needs to transition from high-carbon to low-carbon energy, and the bank has a responsibility to accelerate this transition.” Last month, Bank of America CEO Brian Moynihan reiterated the bank’s commitment to climate action when he spoke at the U.N. climate summit in New York. But Bank of America’s stated environmental position clashes starkly with the bank’s refusal to rule out bankrolling the expansion of Abbot Point.

“If Brian Moynihan’s public remarks on climate mean anything, then Bank of America needs to reject Abbot Point,” said RAN Climate and Energy Program Director Amanda Starbuck. “It’s unbelievable that in the midst of a climate emergency, Bank of America would even consider bankrolling a carbon bomb on the scale of the Alberta tar sands. On top of it, Abbot Point poses an immediate threat to one of the world’s most diverse ecosystems, the Great Barrier Reef. Bank of America needs to join the rest of its peers by rejecting this terrible project immediately.”

Building a new, larger export facility at Abbot Point is a key component of the plan to dramatically increase coal production in Australia’s Galilee Basin, one of the largest stores of carbon in the world. If the plan goes forward, Australia’s coal exports would likely double, and make the the country the number one coal exporter in the world. The proposed expansion has strong backing from the Australian government, but will require financial support from global investment banks to move ahead. Five major European banks (Deutsche Bank, Royal Bank of Scotland, HSBC, Barclays, and Credit Agricole) publicly ruled out investment in Abbot Point earlier this year after months of campaigning from an international coalition. That group was joined yesterday by U.S. banks Citigroup, JPMorgan Chase, and Goldman Sachs, which all made public commitments under pressure from RAN.


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RAN Applauds Move by U.S. Banks to Reject Australian Coal Port

FOR IMMEDIATE RELEASE
October 27, 2014

contact:
Claire Sandberg, claire@ran.org646-641-6431


Rainforest Action Network Applauds Move by U.S. Banks to Reject Australian Coal Port

Abbot Point coal export project presents dire threat to climate and to the Great Barrier Reef

San Francisco—Rainforest Action Network commended the move by leading U.S. investment banks to rule out financing the Abbot Point coal export project in Queensland, Australia. Under pressure from RAN, Citigroup, Goldman Sachs, and JPMorgan Chase all issued written commitments—released publicly for the first time today—to not bankroll the controversial project, which would involve dredging part of the Great Barrier Reef.

“We’re pleased to see some of the biggest banks on Wall Street reject this destructive project that presents a grave threat to the Great Barrier Reef and to the global climate,” said RAN Climate and Energy Program Director Amanda Starbuck. “These banks have clearly taken a good look at the Abbot Point plan and decided that dredging a World Heritage Site to make way for coal ships is obviously a terrible idea.”

The chilly reception to Abbot Point from U.S. banks follows five major European banks (Deutsche Bank, Royal Bank of Scotland, HSBC, Barclays, and Credit Agricole) publicly ruling out investment in Abbot Point earlier this year after months of campaigning from an international coalition. BlackRock has also warned investors to steer clear of the project. This new move by major U.S. banks signals that the Adani Group and GVK may be unsuccessful in their bid to secure an estimated $26.5 billion in external financing necessary for the planned expansion of coal export facilities and associated mine and rail infrastructure.

Rainforest Action Network is campaigning to stop Abbot Point due to concerns over how terminal construction and operation would impact the Great Barrier Reef; building the terminal would require dredging an ecologically sensitive area of the Great Barrier Reef World Heritage Area. Additionally, if Abbot Point moves forward it could unlock one of the world’s largest untapped stores of carbon, the Galilee Basin, by providing critical export infrastructure. Nine new mega coal mines are currently planned for the Galilee Basin, five of which would be bigger than any coal mine currently operating in Australia. Galilee basin mines, if fully developed, would produce up to 330 million metric tons of coal per year for export, more than doubling Australia's exports. Australia is already the number two exporter of coal in the world.

“Stopping Abbot Point is a top priority for us, because this single project is the key to whether one of the largest stores of carbon on the planet, the Galilee Basin, stays in the ground where it belongs, or is sold on the global market and released into our atmosphere,” said Starbuck.

 

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Wall Street: Don't Destroy the Great Barrier Reef!

In the coming months, big Wall Street banks could finance the destruction of the Great Barrier Reef.

Raise your voice to stop them! 

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Photo: Shutterstock

The Great Barrier Reef, off the coast of Australia, is the world's biggest stretch of coral reef and is probably the planet’s richest area in terms of animal diversity. It’s home to 1,500 species of fish, 400 kinds of coral, and at least 30 types of whales and dolphins—it’s an important area for humpback whales giving birth and raising their young. The reef is also a key habitat for two endangered—and beautiful—species: the green sea turtle and the dugong, or “sea cow.” And it’s a global treasure, a protected UNESCO World Heritage Site.1

Now the Great Barrier Reef is facing a massive threat. A huge corporation, Adani, wants to expand the Abbot Point coal terminal into the one of the world’s biggest coal ports, right in the middle of the reef World Heritage Area. To do that, they’re planning to dig up 3 million cubic meters of seabed, wrecking the habitat of thousands of species. Analysts project that, if the port is expanded, thousands more coal ships would pass through the reef each year, polluting the ocean as they go and posing a constant threat of catastrophic spills.

But the port can’t go forward unless Adani finds several big banks to fund their astonishingly reckless plan. Thanks to the efforts of a worldwide coalition of environmentalists, a number of European banks have pledged not to underwrite the project. So now the company is looking to Wall Street—and so far, the big U.S. banks haven’t yet committed to not financing the project.

Tell Wall Street not to bankroll the destruction of the Great Barrier Reef!

There’s another reason we need to stop this plan, besides the acute threat to the reef: the Abbot Point port expansion would light the fuse on a carbon bomb on the scale of the Alberta tar sands. The port is a key piece of infrastructure in a coal industry plan to build a cluster of new mega-mines in a vast coalfield called the Galilee basin. Australia is already the world’s second-biggest coal exporter, and these new mines would double the country’s output. With the world hurtling toward devastating levels of global warming, the next few years are crucial for us to change the course of climate history, and the fight over Abbot Point is one that we have to win. We have the technology to meet our energy demand from clean, renewable sources—there’s no need to unlock these vast reserves of dirty coal for the sake of corporate profits.

Rainforest Action Network has a long track record of pressuring banks to quash dirty energy deals, and we’re already talking to the biggest players on Wall Street to push them not to bankroll the destruction of the Great Barrier Reef. We’re telling bank executives: destroying a World Heritage Site and cooking the climate for the sake of as little as a few million dollars in fees is not a good deal. But we can’t win in the boardroom unless Wall Street knows that this is one deal the public won’t let them get away with. In the coming months, Adani will be reaching out to the big banks to secure financing, so we need to raise our voices now.

Add your name to our petition today.


Don't Let Big Banks Destroy the Great Barrier Reef!

Stand with RAN as we demand that Wall Street not destroy the Great Barrier Reef.

The coal industry is embarking on a project that would destroy the Great Barrier Reef by massively expanding a coal terminal and building new coal mines in eastern Australia. The resultant dredging and ship traffic would devastate this delicate ecosystem and global treasure. The climate impacts would be terrible as well -- doubling coal production in Australia, already one of the world's worst offenders in mining this dirty fossil fuel.

But the coal industry needs international bank funding to make their reckless new project happen. Several European banks have already made public commitments not to fund this horrifically destructive project. Stand with RAN as we push the big Wall Street banks to do the same. 

Take action now, and tell Wall Street you won't stand for them destroying the Great Barrier Reef.  


Add your voice!

Wall Street must not finance the destruction of the Great Barrier Reef by funding the coal industry’s reckless scheme to expand the Abbot Point coal terminal. The expansion would devastate a delicate ecosystem and lead to terrible damage to the climate. Make a public commitment not to fund this horrifically destructive project now! 

 

12,813 signatures

You Did It! No U.S. Tax Dollars for Dirty Coal Plants Abroad!

Jharkand_2.jpgWe did it! We’ve won the first round in a fight against using U.S. tax dollars to finance the dirtiest coal projects around the world, thanks to an outpouring of opposition from environmental activists, including RAN members.

West Virginia Senator and “mouthpiece for the coal industry” Joe Manchin had sought to include a giveaway to Big Coal in legislation reauthorizing the federal Export-Import Bank. But Manchin backed down in the face of mounting pressure earlier this week, instead introducing a “clean” bill without the coal industry goodies.

This is big step in the right direction. Pushing public banks to scale back funding for coal is critical to Rainforest Action Network’s long-term goal of preventing the entire financial sector from bankrolling climate chaos. Public sector financing is one of the few areas on climate where the United States is leading the way, as a result of a new rule put in place last year by the Obama administration limiting the use of federal money to support dirty coal plants abroad.

That policy now remains in place, thanks in part to your advocacy. But Manchin looks determined to reintroduce his coal giveaway as an amendment in the coming months, and if he does we’ll need to raise our voices again. We’ll be watching — and we’ll be back in touch.

But let’s take a moment to celebrate! Thanks for standing up to Big Coal.


The Coal Industry is Getting Desperate

Kelly.pngThe coal industry’s mouthpieces in Washington are getting desperate.

This week, Rep. Mike Kelly (R-PA) had this to say about the Environmental Protection Agency’s proposed carbon pollution standards for power plants:

“You talk about terrorism — you can do it in a lot of different ways.”1

Here’s a good rule of thumb in political debate: when someone invokes terrorism out of the blue, you know they’ve lost the argument.  

Because the environmental movement has it right — pollution from coal-fired power plants kills communities and cooks our climate. That’s why the EPA’s long-overdue carbon standards, announced last month, are so important.

This new rule is a welcome step, but we need more. Tell the EPA to strengthen its limits on carbon pollution from power plants.

We already limit arsenic, mercury, soot and other air pollution from power plants—but, until now, not carbon pollution. Power plants are the single largest source of carbon pollution in the United States. Setting the first-ever federal limits on carbon pollution is an essential step to address global warming and here at RAN we absolutely support a national carbon pollution standard.

No matter what the fossil fuel industry-funded politicians like Mike Kelly may say, communities across the nation are already seeing and feeling the impacts of global warming, from increased health risks like asthma attacks and lung disease, to devastating extreme weather events like Superstorm Sandy and wildfires across the American West. The science is clear: inaction will only increase these deadly and costly threats.

This is exactly why communities from Chicago to North Carolina, from New England to New Mexico, have spent years fighting to shut down the polluting power plants in their neighborhoods.

The EPA is now accepting public comments on its proposed rule. Write the EPA today—say we need a stronger rule for a stable climate! 

To be clear, the proposed carbon pollution standard is just one step. To keep our climate stable, we must rapidly shift our energy production away from the highest-polluting fossil fuels and accelerate our transition to truly clean, renewable energy generation.

The proposed rule is not yet enough to slow global warming and not yet enough to inspire the world to make the necessary deep cuts in climate pollution. That is why we will be working hard next year to include much deeper cuts in the final rule.

We know that the coal industry and the politicians it funds will work to undermine this rule and doom communities to years of future pollution.

Please urge the EPA to ignore the naysaying polluters and do even more to address global warming and set limits on carbon pollution from power plants. 

Together, we can meet our obligation to protect our climate for our children and future generations.

SOURCES:

1. “Congressman Compares EPA’s New Climate Rule To Terrorism”, ThinkProgress, July 28, 2014. 


No U.S. Funding for Coal Plants Abroad

HarryReid_720x720.pngThe coal lobby's best friend in the Senate is trying to roll back progress on stopping climate change. 

West Virginia Democrat and “mouthpiece for the coal industry” Joe Manchin is trying to undo a new rule that would limit the use of U.S. tax dollars to finance dirty coal plants around the world. Senate Majority Leader Harry Reid is currently weighing whether or not to allow Manchin to attach his pro-coal amendment to existing legislation. 

Tell Harry Reid: No U.S. tax dollars for dirty coal plants abroad!

It all has to do with a federal bank you've probably never heard of, the Export-Import Bank. The Export-Import Bank provides financing for U.S. businesses operating internationally, and up until now has been a huge funder of fossil fuel development around the globe. Under President Obama, the bank has financed more than $27 billion in international fossil fuel projects, compared with less than $2 billion in clean energy projects. So it was a big step forward when the White House announced plans last year to drastically restrict the bank’s support for coal plants abroad. 

But now senators with deep ties to coal mining, led by Manchin, want to block the new rule from taking effect, and they’re threatening to hold up the bank’s reauthorization in Congress if they don’t get their way. If they succeed, it would send the wrong signal to the entire financial sector, undermine the president’s leverage to push other nations to adopt similar policies on coal finance, and have devastating impacts for local communities slated for development. 

Tell Harry Reid: No concessions for Big Coal in the Export-Import Bank reauthorization!

It’s no surprise that senators in the pocket of Big Coal like Joe Manchin would try and block this modest and urgently-needed policy. Manchin is one of the top recipients of coal industry money in Congress today, and has a history of deep personal ties to coal companies: environmentalists in West Virginia report that Manchin has “been nothing but a mouthpiece for the coal industry his whole public life.”1

But it’s a disappointment to see the Democratic Senate leadership consider bowing to Manchin’s demands. Harry Reid has criticized Republicans for “denying reality” on climate change, and has said he won’t allow the GOP to hold this year’s interim budget hostage over Republican opposition to EPA action on carbon pollution. But it’s not enough for Reid to talk tough with his political opponents if he’s willing to entertain concessions to the fossil fuel industry to please members of his own party. 

Right now, Senator Reid is leading negotiations over whether to allow Manchin’s pro-coal amendment into the final bill. We have a limited window to make sure Reid knows we’ll hold him accountable for whether our tax dollars are used to fuel climate change. 

Tell Senate Majority Leader Reid not to back down on international coal finance.

Pushing public banks to scale back funding for coal is critical to Rainforest Action Network’s long-term goal of preventing the financial sector overall from bankrolling climate chaos. That’s why we can’t let a minority of coal loyalists undo the gains we’ve worked to achieve together. With a constantly shrinking amount of time left to stabilize atmospheric carbon and avert the worst impacts of climate change, we need Senator Reid to stand tall and uphold this long-overdue policy. 

Add your voice now.

P.S. For more on this issue, check out my op-ed in The Hill, the influential Capitol Hill newspaper: "Will Harry Reid Undermine Obama's Climate Legacy?" 

SOURCES:

1. “Sen. Manchin Maintains Lucrative Ties to Family-Owned Coal Company”, New York Times, July 26, 2011.
http://www.nytimes.com/gwire/2011/07/26/26greenwire-sen-manchin-maintains-lucrative-ties-to-family-64717.html


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