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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 [...]
Continue reading...Tuesday, June 19, 2012
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 [...]
Continue reading...Monday, June 11, 2012
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...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...Wednesday, May 9, 2012
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 [...]
Continue reading...Tuesday, May 8, 2012
If you can’t be in Charlotte tomorrow to join the protest at Bank of America’s shareholder meeting, that doesn’t mean you have to miss all of the action. There will be multiple live streams of the day’s events, which will include three marches, a boxing match between Brian “Big Banks” Moynihan and the 99% that [...]
Continue reading...Monday, May 7, 2012
UPDATED: Wednesday, May 9th at 1:30 EST As Bank of America’s executives, board, and shareholders gathered at the bank’s shareholder meeting in Charlotte, NC, thousands of protesters took to the streets and inside the meeting hall to speak out against BofA’s practices that are destroying our environment and our economy. The Flickr slideshow below will [...]
Continue reading...Wednesday, May 2, 2012
As the largest financier of the U.S. coal industry, Bank of America should be called the “Bank of Coal.” So we decided to rename it. Today, five RAN activists scaled Bank of America Stadium and dropped a 70′ x 25′ banner reading “Bank of America Coal.” What better place to send our message than BofA [...]
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 19, 2012
Yesterday morning, Bank of America announced that it was turning over a new leaf, rebranding itself as “Your Bank of America” and seeking the American public’s input on how it could become a bank that responds to real people. Or so it seemed. You know what they say: If it seems too good to be [...]
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Wednesday, July 11, 2012
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