This Just In: Bank of America to Stop Financing Mountaintop Removal!
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
8 Responses to “This Just In: Bank of America to Stop Financing Mountaintop Removal!”
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December 4th, 2008 at 11:20 am
[...] posted by Annie on Rainforest Action Network’s website. Possibly related posts: (automatically generated)Bank of America to Stop Financing Mountaintop [...]
December 4th, 2008 at 3:11 pm
Thanks for taking an environmental stand, it’s about time big business understands its ONE PLANET.
December 5th, 2008 at 7:35 am
Awesome! Down with MTR!
December 8th, 2008 at 5:24 pm
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.
December 9th, 2008 at 4:04 am
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.
December 9th, 2008 at 12:28 pm
[...] companies whose predominant method of extracting coal is through mountain top removal.” We were thrilled. We celebrated. We sent out a press release praising Bank of America for their decision to move [...]
January 10th, 2009 at 3:47 pm
[...] Rainforest Action Network (RAN): This Just In: Bank of America to Stop Financing Mountaintop Removal… 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. [...]
May 5th, 2009 at 11:51 pm
The points above are all very insightful, thanks very much.