Posts Tagged with "banks"

I’m Visiting Barclays Bank and I Need You to Back Me Up

Wednesday, April 23, 2014

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I’m Visiting Barclays Bank and I Need You to Back Me Up

This is a guest post by Paul Corbit Brown, president, Keeper of the Mountains. Tomorrow, I’m visiting Barclays and I need you to back me up. In 2013 Barclays gave $550 million in financial support, more than any other bank, to companies destroying my home of central Appalachia with mountaintop removal coal mining (MTR). That’s [...]

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Barclays: The Biggest Banker of Mountaintop Removal Coal

Monday, 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

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 banks have [...]

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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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