The Boston Globe wrote a bit more about the latest on the TXU ordeal. The article explains how the” new front on fighting global warming follows trails of money, not wisps of polluting chemicals, straight to the doorsteps of banks.”
One of the issues that folks have with banks like Citigroup and Merrill Lynch is in their tactics to, as a company, decrease their own emissions of CO2 (through their landholdings and properties) while approving business deals and projects that proliferate and encourage global warming and climate change:
Tim Greeff , a global warming specialist at the Natural Resources Defense Council , a Washington, D.C.-based advocacy group, said Citigroup’s internal and external environmental policies were not consistent. “It is sort of like allowing [tobacco-maker] Philip Morris to claim they are fighting tobacco addiction by asking their own employees not to smoke, while continuing to sell cigarettes to everyone else,” Greeff said.
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Tim Greef’s analogy above alludes to the cozy relationship shared between big tobacco lobbyists and today’s global warming skeptics. Fortunately, many groups have been helping to shed light on the tobacco-tactics used to spread disinformation about global climate change, the latest being a comprehensive report released by by our friends at The Union of Concerned Scientists, exposing Exxon Mobil’s efforts to muddy the waters around global warming since 1998.
Check it out for a breath of fresh air: http://www.ucsusa.org/news/press_release/ExxonMobil-GlobalWarming-tobacco.html