Posts Tagged with "citigroup"

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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Banking on Coal: New BankTrack Report Highlights Bank Complicity in Global Coal Mining Boom

Thursday, December 12, 2013

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Banking on Coal: New BankTrack Report Highlights Bank Complicity in Global Coal Mining Boom

“Most innovative investment bank for climate change.” – Citigroup “Mak(ing) your life greener and help(ing) tackle climate change.” – Morgan Stanley “Financing a low carbon economy.” – Bank of America When banks tout slogans such as these, you might expect them to mean that they plan to phase out financing for coal, the single largest [...]

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“It’s Easier to Mine Coal Without People Around.”

Monday, March 4, 2013

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“It’s Easier to Mine Coal Without People Around.”

RAN’s latest Coal Risk Update highlights the potential human rights impacts of a planned mountaintop removal mine in Blair, West Virginia. Blair Mountain is a national treasure: The mountain is the site of arguably the most important post-Civil War battlefield in the US. Currently, Arch Coal plans to build a mine that would destroy the [...]

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Financed emissions: A big problem for banks, and a bigger problem for the climate

Tuesday, October 30, 2012

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Financed emissions: A big problem for banks, and a bigger problem for the climate

What is the total greenhouse gas footprint of Citigroup, Bank of America, or UBS? Right now, we don’t know, and that’s a major problem for both banks and the climate. Banks emit greenhouse gases to power their offices and branches, but they also finance the emissions of other companies through their loans, investments, and other [...]

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Texan Takes Fight Against Tar Sands Pipeline to Citigroup

Thursday, April 21, 2011

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Texan Takes Fight Against Tar Sands Pipeline to Citigroup

David Daniel is traveling 1,500 miles from the Piney Woods of East Texas to midtown Manhattan this week with a message for Citigroup, the nation’s third-largest bank: Don’t help a Canadian oil pipeline company endanger my community. At today’s Citigroup annual shareholder meeting, CEO Vikram Pandit was taken to task by David Daniel along with [...]

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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 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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