Posts Tagged with "banks"

Extreme Coal – No Longer Business as Usual

Thursday, 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 [...]

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Breakthrough: JPMorgan Chase Dropping Mountain Destruction

Sunday, 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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Goldman Sachs Sacks Coal Export Investment

Friday, 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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Banks Move to Measure Their True Climate Impacts

Tuesday, 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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Coal India Threatens Communities and Forests

Thursday, August 22, 2013

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Coal India Threatens Communities and Forests

This summer, the RAN energy team has been casting our eyes around the globe and researching the impact that coal mining is having on deforestation. One of the regions that we are most concerned about is in India, where more than 1.1million hectares of forest are threatened by the expansion of open-pit coal mining. Open-pit [...]

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Eye to Eye with Brian Moynihan

Thursday, May 9, 2013

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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 [...]

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Gearing Up for Bank of America’s Shareholder Meeting

Tuesday, May 7, 2013

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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 [...]

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Extreme Investments: 2013 Coal Finance Report Card

Monday, April 29, 2013

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Extreme Investments: 2013 Coal Finance Report Card

Today, RAN, Sierra Club, and BankTrack launched our 2013 Coal Finance Report Card. This year’s report, entitled “Extreme Investments: U.S. Banks and the Coal Industry” evaluates the largest U.S. banks in terms of their financing of companies engaged in coal extraction, transport, and combustion. As our title indicates, coal has become an extreme investment. Long [...]

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Seven of Bloomberg’s Top Ten “Greenest Banks” Are Climate Killers

Wednesday, April 10, 2013

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Seven of Bloomberg’s Top Ten “Greenest Banks” Are Climate Killers

A Guest blog-post by Yann Louvel, BankTrack‘s Climate and Energy Campaign Coordinator This week, Bloomberg published the results of its third annual ranking of the “world’s greenest banks”: Citi was ranked first, followed by Santander and JPMorgan. The study assesses banks based on their lending to clean-energy projects and reduction in their own power consumption [...]

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Bostonians Uniquely Positioned to Accelerate Clean Energy Transition

Thursday, January 24, 2013

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Bostonians Uniquely Positioned to Accelerate Clean Energy Transition

Did you hear? Rainforest Action Network is focused on the Bay State now. Massachusetts is home to several of Bank of America’s top executives, and if the company took a leadership role in addressing its financed emissions, other institutions would follow suit. Big banks are instead keeping the most polluting energy companies afloat – and [...]

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