NY Activists Call Out Citibank for Financing Dominion’s Dirty Energy

Written by Ananda

Topics: Coal, Finance

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In solidarity with Wise County residents – who shut down the construction of Dominion Resources’ Coal Power Plant in Wise County, Va this morning, activists in New York arrived at Citibank’s Manhattan doorstep to remind the bank of their ongoing financial support for Dominion and other coal utility companies.

Citi still guilty of finanicng coal
Citi still guilty of financing coal

Since their announcement of the carbon principles – new environmental standards designed to help banks assess the risk associated with investments in coal power, Citi has continued to provide financial assistance to Dominion Resources. Along with Barclays, JP Morgan Chase and Merrill Lynch, Citibank served as joint book-running managers for the sale of $ 1.2 billion of Dominion debt securities in June, 2008.

Dominion currently operates over 30 coal-fired power plants in the US and is proceeding with the construction of a 585 MW coal plant in Wise County, despite widespread opposition amongst Virginians.

1 Comment For This Post I'd Love to Hear Yours!

  1. Jeff Waymack says:

    Greetings,

    I just read the article in Time magazine (Nov 17, 2008 – LIFE section) about ‘Taking On King Coal’. I wanted to send some thoughts to the people at ‘Dominion II’ regarding the article.

    I am confused who ‘Dominion II’ is. According to the first sentence of the article, ‘Dominion II’ is a protest group. In some of my internet searches I have seen protest signs that refer to ‘wiseupdominion.org’. There is no group by that name that I can find and any use of ‘wiseupdominion.org’ leads me to the ‘Official Blog of RAN’.

    I would like to send a message to whatever organization is actually coordinating ‘Dominion II’. Can you give me a lead on this?

    Thanks,

    Jeff Waymack

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