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Bank of America released its new environmental initiative this morning, grandly declaring that “Today’s announcement builds on Bank of America’s legacy of leadership in the environmental arena.” While the bank’s initiative focuses on its financing of renewable energy, key construction projects and reduction of its own operational emissions (emissions from its buildings and facilities), the [...]
Continue reading...Monday, June 4, 2012
Last week I received an announcement from Goldman Sachs proudly promoting their latest Corporate Social Responsibility (CSR) report, highlighting efforts to address environmental, social and governance issues in 2011 and an ongoing commitment to clean energy financing. At first glance, this perhaps sounds good — the optimistic side of me wants to feel some sign [...]
Continue reading...Thursday, May 24, 2012
This post is by Yann Louvel, BankTrack Climate and Energy Campaign Coordinator. Last month we got some promising news from WestLB, the German bank. They produced a new policy on Arctic drilling (which our friends at Platform have written about here) and they published an update of their coal policy. While the first edition of [...]
Continue reading...Tuesday, May 1, 2012
Today Rainforest Action Network and the Sierra Club released our Coal Finance Report Card 2012, our third annual ranking of the largest financiers of mountaintop removal coal mining and coal-fired power plants. The report looks at the stated policies for mountaintop removal and coal financing from each of the largest US Banks and assigns a [...]
Continue reading...Thursday, April 26, 2012
Someone once wrote that a bank is like a giant squid wrapped around the face of humanity. And it feels as if banks have overwhelmed the neighborhood, as I walk just two blocks around my office this lunch hour, counting six different bank branch lobbies along the way. They all reach to grab my attention [...]
Continue reading...Wednesday, April 25, 2012
It’s the time of year when banks put their ‘best foot forward’ and prepare to be scrutinized by their shareholders at annual general meetings (AGMs). It’s a legal requirement, the AGM is held every year where the board of directors is elected, and the highest-ranking staff report to members on previous and future activities. So [...]
Continue reading...Wednesday, April 18, 2012
North Carolina activists put their training into practice today, filling Bank of America branches in five cities with the buzz of people power. The 99% of Raleigh, Durham, Chapel Hill, Asheville and Charlotte joined forces in a wave of coordinated actions organized by the North Carolina Coalition Against Corporate Power. There were several more marches [...]
Continue reading...Monday, April 9, 2012
Wall Street is scared shitless. They’d never admit it, but the way the big Wall Street banks are rapidly relocating their annual shareholder meetings from the concrete canyons of Midtown and lower Manhattan this shareholder season to points south, north and west means that fear is not only visible, you can smell it on them [...]
Continue reading...Monday, April 9, 2012
Two weeks ago it was announced that the U.S. has the highest corporate tax rate in the world sparking furious debate from Fox News types concerned about corporate well being. At RAN, we decided to dig a little deeper to see whether the corporate tax rate really is unfairly penalizing multi billion dollar corporations. Our [...]
Continue reading...Tuesday, March 13, 2012
When we got word that Bank of America CEO Brian Moynihan was visiting our fine city of San Francisco this week, we knew that we needed to track him down and have a frank conversation about his bank quitting coal. RAN is calling on the biggest U.S. banks to stop financing the polluting coal industry [...]
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Monday, June 11, 2012
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