This Just In: Bank of America to Stop Financing Mountaintop Removal!

Written by Annie Sartor

Topics: Coal, Finance

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From Bank of America’s website:

“Bank of America is particularly concerned about surface mining conducted through mountain top removal in locations such as central Appalachia. We therefore will phase out financing of companies whose predominant method of extracting coal is through mountain top removal. While we acknowledge that surface mining is economically efficient and creates jobs, it can be conducted in a way that minimizes environmental impacts in certain geographies.”

We are thrilled that just two and a half weeks after RAN’s day of action against coal and coal finance, Bank of America has made a public commitment to stop financing the devastating practice of mountaintop removal mining. This has been a major demand of the banks for the Global Finance campaign and we applaud Bank of America as it takes a step in the right direction – a step away from coal. Congratulations to everyone who has helped to pressure Bank of America to end it’s financing of coal and mountaintop removal – this is a truly incredible grassroots victory!

We will have more information about Bank of America’s announcement soon, as we work with our team and our allies to respond. For now, let’s celebrate!

-Annie

6 Comments For This Post I'd Love to Hear Yours!

  1. ellen dorfman says:

    Thanks for taking an environmental stand, it’s about time big business understands its ONE PLANET.

  2. David says:

    Awesome! Down with MTR!

  3. Steve says:

    I don’t believe they stopped financing mountaintop removal because they care about the environment, it’s because they can’t afford it any more. We can still thank RAN for bringing it to their attention.

  4. Pam says:

    I am so happy to hear this and yes it is about time big business quit financing mountain top removal. I live in WV and it is a sad site to see our mountains with the tops blown off. Let’s keep this kind of work going. Thanks so much for all you do.

  5. Skinny Ties says:

    The points above are all very insightful, thanks very much.

  6. Mary Rose Curtis says:

    I am so glad that Bank of America will no longer support Mountain top removal. It is fundamentally important for all Americans that we respect and honor the earth, and that we can pass on the beauty of the mountains and clean water to the next several generations, removing pollution whenever possible, Mary Rose Curtis

Trackbacks For This Post

  1. Bank of America to Stop Financing Mountaintop Removal! « The End of Capitalism
  2. The Understory » Bank of America and MTR – What Does it All Mean?
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  4. Rethinking the Campus Environmental Club | RYSE

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