Posts Tagged with "Finance"

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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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 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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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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Patriot Coal: Another One Bites the Dust

Wednesday, July 11, 2012

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Patriot Coal: Another One Bites the Dust

Big news this week in the coal industry: Patriot Coal, the third-largest Mountaintop Removal (MTR) coal mining company, is filing for bankruptcy. Bank of America is among the banks providing bankruptcy filing services for Patriot. This is a real opportunity for BofA to use its influence and environmental ambition to work with Patriot and forward-thinking [...]

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Do We Need Natural Capital or Nature Without Capital?

Tuesday, June 19, 2012

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Do We Need Natural Capital or Nature Without Capital?

As the Rio+20 ‘Earth’ summit gets underway, we’re hearing a slew of ‘sustainability’ pronouncements and declarations from the business sector, to illustrate their planet-saving intentions. One of these is the ‘Natural Capital Declaration‘ (NCD), launched on Saturday by more than 35 financial institutions. They claim that this marks the first time the world of finance [...]

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Bank of America: Strong on Rhetoric, Weak on Climate & Coal

Monday, June 11, 2012

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Bank of America: Strong on Rhetoric, Weak on Climate & Coal

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 [...]

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WestLB Takes A Brave Step In The Right Direction

Thursday, May 24, 2012

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WestLB Takes A Brave Step In The Right Direction

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 [...]

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Larry Gibson: “Stand With Me Against BofA and Coal”

Wednesday, May 9, 2012

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Larry Gibson: “Stand With Me Against BofA and Coal”

As a native West Virginian, I have experienced the dire impacts of mountaintop removal coal mining firsthand. I used to walk around the forests surrounding my family’s home on Kayford Mountain and feel like I was a part of mother nature. Now all I feel is dynamite exploding and the vibration of heavy machinery. As [...]

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