Archive | Finance RSS feed for this category

Banks Move to Measure Their True Climate Impacts

By Amanda Starbuck, October 29 2013

1 Comment

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 [...]

Continue reading...

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

By Guest, October 14 2013

1 Comment

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, [...]

Continue reading...

Divestors Take Their Fight to Big Banks

By Guest, October 10 2013

0 Comments

Divestors Take Their Fight to Big Banks

Cross-posted from Fossil Free blog. This post was written by Hannah Jones, Swarthmore Mountain Justice alumna. If you’re reading this, you already know: we’re living in a time of unprecedented climate activism. Yet even as student divestment campaigns command the attention of the president and major newspapers, many campuses are hearing disappointing noises from their [...]

Continue reading...

Coal India to Investors: What’s a Few Billion Tons of Coal Between Friends?

By Ben Collins, September 24 2013

0 Comments

Coal India to Investors: What’s a Few Billion Tons of Coal Between Friends?

Yesterday, Greenpeace and the Institute for Energy Economics and Financial Analysis (IEEFA) released a report that reveals that Coal India, the world’s largest coal miner, may be overstating its coal reserves by an estimated 3.5 billion metric tons. As the company and its bankers prepare a new offering of Coal India shares to the investing [...]

Continue reading...

Ignoring Human Rights Abuses and Coal’s Uncertain Future, Big Banks Line Up for Piece of World’s Largest Coal Miner

By Guest, September 4 2013

2 Comments

Ignoring Human Rights Abuses and Coal’s Uncertain Future, Big Banks Line Up for Piece of World’s Largest Coal Miner

This is a guest post by Ashish Fernandes, a climate campaigner with Greenpeace. Green is in on Wall Street. Or so you’d think, if you believe the sustainability policies of some of the United States’ biggest banks. Bank of America, Citi, Goldman Sachs, JP Morgan and Morgan Stanley all have paid lip service to environmental [...]

Continue reading...

Dump Now, Pay Later: Coal Risk Update on Coal Ash

By Ben Collins, July 2 2013

1 Comment

Dump Now, Pay Later: Coal Risk Update on Coal Ash

Each year, the U.S. coal-fired power plant fleet produces over 130 million tons of coal ash. And while this ash frequently contains arsenic, lead, mercury, and other toxic chemicals that threaten human health, it is less regulated than your household trash. For decades, power plants have disposed of coal ash in over 2,000 landfills and [...]

Continue reading...

Bank of America’s New Corporate Social Responsibility Report Defends Business-as-Usual on Coal

By Ben Collins, June 24 2013

15 Comments

Bank of America’s New Corporate Social Responsibility Report Defends Business-as-Usual on Coal

This morning, Bank of America released its 2012 Corporate Social Responsibility (CSR) report, which falls well short of committing to the serious action we need from banks on climate change. Just ahead of the president’s climate speech tomorrow, which is anticipated to set reductions for emissions from existing power plants, it is disappointing to find [...]

Continue reading...

Eye to Eye with Brian Moynihan

By Amanda Starbuck, May 9 2013

0 Comments

Eye to Eye with Brian Moynihan

VIDEO: To watch more of what happened yesterday at the Bank of America shareholder meeting in Charlotte, watch the clip at the bottom of this blog post. As I stood eye-to-eye with Bank of America (BofA) CEO, Brian Moynihan, a large stop-watch projected onto the wall of the conference room started to count down. I [...]

Continue reading...

Charlotte Teach-In: “We can no longer afford to stand still like we’re not a part of this planet.”

By Ben Collins, May 8 2013

4 Comments

Charlotte Teach-In: “We can no longer afford to stand still like we’re not a part of this planet.”

Last night, Saint Matthew’s Catholic Church in Charlotte graciously hosted a panel discussion on “Communities and Coal.” We were lucky to hear from panelists from communities impacted by coal in Appalachia and the Pacific Northwest, as well as from experts on the health consequences of climate change and the growing impacts of coal on communities [...]

Continue reading...

Gearing Up for Bank of America’s Shareholder Meeting

By Amanda Starbuck, May 7 2013

1 Comment

Gearing Up for Bank of America’s Shareholder Meeting

I’m in Charlotte this week to talk to Bank of America’s annual shareholder meeting. For the past two years, RAN has been calling on the bank to get serious about addressing climate change.This is a bank that declares a “commitment to positive environmental change” proudly on its website and a bank that has fanfared multi-billion [...]

Continue reading...