Posts Tagged with "alpha"

Citi Needs an Intervention

Wednesday, March 9, 2011

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Citi Needs an Intervention

Addiction – noun \ə-ˈdik-shən, a-\: persistent compulsive use of a substance known by the user to be harmful. (Merriam-Webster) Citi has a problem. Despite renewing its vows in 2009 to tackle “Environmental and Social Risk Management,” including mountaintop removal coal mining, Citi is relapsing into fossil fuel addiction. Last year, Citi raised more than $34 [...]

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New UBS Policy Fizzles

Thursday, February 3, 2011

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New UBS Policy Fizzles

‘Tis the season for new bank environmental and social policies! Last Friday, UBS was the latest to announce an updated “Responsible Banking” policy. Let’s see how it stacks up. First off, we have to commend UBS and other banks for choosing to make environmental and social commitments public. Transparency is a critically necessary component of [...]

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Goodbye Massey and Thanks For Nothing

Sunday, January 30, 2011

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Goodbye Massey and Thanks For Nothing

After months of speculation, Massey Energy, the most controversial coal mining company in the USA, is no more. On Saturday Alpha Natural Resources announced that it had bought out the company in a deal worth $8.5 billion. That’s a high price for the stock – metallurgical coal looks lucrative to short-sighted investors as the competing [...]

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New Reporting from Citi on their Mountaintop Removal Financing

Wednesday, April 28, 2010

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In 2009 RAN urged Citi to stop financing mountaintop removal (MTR) coal mining, the environmental tragedy that is destroying the Appalachian landscape and poisoning communities. Citi’s initial response, a statement on their website that the bank had “has implemented a robust MTR Environmental Due Diligence Process” was a disappointment to us. While Citi had at [...]

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