Posts Tagged with "coal"

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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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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Heads Up, Big Banks: The Divestment Movement is Coming for You

Monday, October 14, 2013

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Heads Up, Big Banks: The Divestment Movement is Coming for You

This post is cross-posted from WeArePowerShift, and was authored by Harry Alper, a 2011 graduate of Washington University in St. Louis and organizer with Rainforest Action Network. It’s May 2013, and Bank of America CEO Brian Moynihan is having a bad day. Moynihan is presiding over his bank’s annual shareholder meeting in Charlotte, North Carolina, [...]

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Coal India to Investors: What’s a Few Billion Tons of Coal Between Friends?

Tuesday, September 24, 2013

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Coal India to Investors: What’s a Few Billion Tons of Coal Between Friends?

Yesterday, Greenpeace and the Institute for Energy Economics and Financial Analysis (IEEFA) released a report that reveals that Coal India, the world’s largest coal miner, may be overstating its coal reserves by an estimated 3.5 billion metric tons. As the company and its bankers prepare a new offering of Coal India shares to the investing [...]

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Ignoring Human Rights Abuses and Coal’s Uncertain Future, Big Banks Line Up for Piece of World’s Largest Coal Miner

Wednesday, September 4, 2013

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Ignoring Human Rights Abuses and Coal’s Uncertain Future, Big Banks Line Up for Piece of World’s Largest Coal Miner

This is a guest post by Ashish Fernandes, a climate campaigner with Greenpeace. Green is in on Wall Street. Or so you’d think, if you believe the sustainability policies of some of the United States’ biggest banks. Bank of America, Citi, Goldman Sachs, JP Morgan and Morgan Stanley all have paid lip service to environmental [...]

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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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Dump Now, Pay Later: Coal Risk Update on Coal Ash

Tuesday, July 2, 2013

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Dump Now, Pay Later: Coal Risk Update on Coal Ash

Each year, the U.S. coal-fired power plant fleet produces over 130 million tons of coal ash. And while this ash frequently contains arsenic, lead, mercury, and other toxic chemicals that threaten human health, it is less regulated than your household trash. For decades, power plants have disposed of coal ash in over 2,000 landfills and [...]

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Make Yourselves Heard On This Issue

Friday, June 28, 2013

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Make Yourselves Heard On This Issue

Tuesday was quite a day for our movement. President Obama made his big speech about climate change, evoking a range of emotions. This was the first speech that I have heard a U.S. President make about climate that had offered any kind of action-plan since I moved to this country six years ago to fight [...]

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Bank of America’s New Corporate Social Responsibility Report Defends Business-as-Usual on Coal

Monday, June 24, 2013

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This morning, Bank of America released its 2012 Corporate Social Responsibility (CSR) report, which falls well short of committing to the serious action we need from banks on climate change. Just ahead of the president’s climate speech tomorrow, which is anticipated to set reductions for emissions from existing power plants, it is disappointing to find [...]

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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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