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Barclays: The Biggest Banker of Mountaintop Removal Coal

By Ben Collins, April 21 2014

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Barclays: The Biggest Banker of Mountaintop Removal Coal

This year’s grades for the banks that finance the worst coal companies are in, and they’re not pretty. Financing companies that use mountaintop removal (MTR) coal mining practices puts communities, the environment, and bank shareholders at risk. But last year, several banks continued to hand billions of dollars to top producers of mountaintop removal coal–earning [...]

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Extreme Coal – No Longer Business as Usual

By Ben Collins, April 17 2014

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Extreme Coal – No Longer Business as Usual

For the first time since we began publishing coal finance report cards five years ago, we have an encouraging trend to report: Major banks have begun making noise about the growing financial risk associated with climate change—and specifically associated with coal, the top global contributor to carbon pollution. On top of that, major banks have [...]

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Breakthrough: JPMorgan Chase Dropping Mountain Destruction

By Amanda Starbuck, April 13 2014

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Breakthrough: JPMorgan Chase Dropping Mountain Destruction

This could be the tipping point for the horrific practice of Mountaintop Removal coal mining. Just this week, JPMorgan Chase updated its environmental policy, revealing that it will be ending financial relationships with Mountaintop Removal coal mining companies. Wells Fargo and BNP Paribas/Bank of the West have recently taken similar steps. If the other major [...]

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Cargill’s Latest Trade in Conflict Palm Oil

By Robin Averbeck, April 2 2014

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Cargill’s Latest Trade in Conflict Palm Oil

Over the past months, we’ve been working on a report profiling Kuala Lumpur Kepong Berhad (KLK), one of the most notorious producers of Conflict Palm Oil on the planet. We knew when we started that KLK’s practices were devastating, but nothing could have prepared us for what we uncovered. Today we released a report profiling [...]

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Meet Ross Bhappu, The Money Behind Coal Export Proposals On the Columbia River

By Guest, March 4 2014

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Meet Ross Bhappu, The Money Behind Coal Export Proposals On the Columbia River

This is a guest post by Joe Smyth of Greenpeace USA. You can follow him on Twitter at @joesmyth. The coal industry’s efforts to export huge amounts of taxpayer-owned coal from Montana and Wyoming to Asia has generated unprecedented opposition in the Pacific Northwest—tens of thousands of people have rallied, attended public hearings, and called on their [...]

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Investor Summit: Bank of America puts our Climate at Risk

By Guest, January 29 2014

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Investor Summit: Bank of America puts our Climate at Risk

This post is by Yann Louvel, BankTrack Climate and Energy Campaign Coordinator. Earlier this month, Bank of America participated in the 2014 Investor Summit on Climate Risk as the “convening sponsor” of the event. While there was a lot of talk about the urgency of the problem of tackling climate change, there were a few things the [...]

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Goldman Sachs Sacks Coal Export Investment

By Amanda Starbuck, January 10 2014

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Goldman Sachs Sacks Coal Export Investment

This year got off to a good start when Goldman Sachs withdrew its investment in the dirtiest coal project on the west coast by selling off its equity investment in Carrix, the parent company of SSA Marine, which was behind a colossal coal export terminal proposal near Bellingham, Washington. The move comes after coal companies [...]

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Banking on Coal: New BankTrack Report Highlights Bank Complicity in Global Coal Mining Boom

By Ben Collins, December 12 2013

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Banking on Coal: New BankTrack Report Highlights Bank Complicity in Global Coal Mining Boom

“Most innovative investment bank for climate change.” – Citigroup “Mak(ing) your life greener and help(ing) tackle climate change.” – Morgan Stanley “Financing a low carbon economy.” – Bank of America When banks tout slogans such as these, you might expect them to mean that they plan to phase out financing for coal, the single largest [...]

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Banks Move to Measure Their True Climate Impacts

By Amanda Starbuck, October 29 2013

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Banks Move to Measure Their True Climate Impacts

The banking sector has a huge influence on climate change. Behind every energy carbon-emitting utility, fossil fuel company and infrastructure project you will find a complex web of financing: from underwriting and loans, to advisory services and asset management. For the last decade, our team at RAN has been challenging banks to take responsibility and [...]

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Heads Up, Big Banks: The Divestment Movement is Coming for You

By Guest, October 14 2013

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Heads Up, Big Banks: The Divestment Movement is Coming for You

This post is cross-posted from WeArePowerShift, and was authored by Harry Alper, a 2011 graduate of Washington University in St. Louis and organizer with Rainforest Action Network. It’s May 2013, and Bank of America CEO Brian Moynihan is having a bad day. Moynihan is presiding over his bank’s annual shareholder meeting in Charlotte, North Carolina, [...]

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