Just minutes ago, RAN’s Global Finance team finished up a press conference announcing to the world that we are formally launching a campaign against the world’s two largest banks – Citi and Bank of America. Why? Because they are the top funders of the dirty coal industry – and the crucial link supplying billions of dollars to companies and projects that are destroying communities, our environment and our climate. These two banks account for around $4 trillion in assets – and it’s time we held them accountable for their investments. They hold the necessary capital to transform our economy away from destructive fossil fuels like coal, and towards one based on sustainable, equitable, clean energy.
You can read all about the campaign at the Global Finance homepage, see our press release announcing the campaign, and read our latest report: Banks, Climate Change, and the New Coal Rush. If you missed out on the great conference this morning – you can listen to the recording here:
The call featured:
- Becky Tarbotton (Director of RAN’s Global Finance Campaign)
- Bill McKibben (Author and founder of Step It Up!)
- Judy Bonds (West Virginia coal-field resident, and founder of Coal River Mountain Watch)
- Leslie Lowe (energy and environment program director at the Interfaith Center on Corporate Responsibility)
Join us in an ambitious campaign targetting the two largest banks in the world to address the world’s largest problem: climate change. Get involved!
-Matt
Twitter Updates
If Bank of America and Citibank are the biggest banks, aren’t they also “behind” most hospitals, orphanages, and farmer’s markets. Why not go after the people who are buying these things, like the Dept. of Energy or whatever State Government are purchasing these power plants. The banks are not going to stop loaning money to the Dept. of Energy. You’re wasting your time, and as usual will get nothing done. Lets go to the Dept of Energy and grind it to a halt, instead of going to some business and wasting our time. Lets make senators vote for legislation, that DEMAND alternative energy, I am afraid we are wasting our time, and I don’t think we have time to waste.
Banks are simply the most influential actors in the market place, the most effective point of intervention. If we can change their behavior, we can help change the market as a whole. The orphanages that were previously going to be powered by a Citi-financed coal plant will instead be the beneficiaries of a new wave of investment in sustainable alternatives.
Going after the governments is a good idea, too, but we don’t have time to wait for them to make change for us. Plenty of people are already working that strategy. Our role is to point out the culpability that private actors, like Bank of America and Citi, have for cashing in on bad government policy.
Showing some love to this topic “new to this wordpress”. I defiantly agree with it also. If you really think about it than it all makes alot of sense