San Francisco, CA – Today, Rainforest Action Network (RAN), Sierra Club and BankTrack released the fourth annual coal finance report card,“Extreme Investments: U.S Banks and the Coal Industry.” The report finds that in 2012 the banking sector financed $20.8 billion for the dirtiest coal companies, even as U.S. coal consumption for power generation fell 11 percent and as mounting scientific evidence confirmed coal’s extreme impact on health and climate change.
CHARLOTTE—Today, Bank of America announced plans to host its Annual shareholder’s meeting in Charlotte, North Carolina on May 8 amid strong opposition to the bank’s ongoing funding of the coal industry, the leading contributor to climate change pollution in the U.S. While the Charlotte-based bank invests heavily in strategies to bolster its green public image, it remains the top financier of the failing U.S. coal industry.
In response to the announcement, Amanda Starbuck, Director of the Energy and Finance Program at Rainforest Action Network issued the following statement:
“Rainforest Action Network (RAN) envisions a world where each generation sustains increasingly healthy forests, where the rights of all communities are respected, and where corporate profits never come at the expense of people or the planet.”
"I think this will stand as one of the biggest market-based campaign successes that we've seen in a long time," says Laurel Sutherlin of the Rainforest Action Network, which, along with Greenpeace and other environmental groups, sp
For years, groups like Greenpeace and the Rainforest Action Network have focused on A.P.P. with campaigns that accuse the company of fueling climate change and pushing rare Sumatran tigers, orangutans and elephants toward extinction by clearing the forests where they live.
However Greenpeace is not APP's only adversary among environmental groups, which are sure to also closely scrutinize the deal. NGOs ranging from local groups like WAHLI and Greenomics to medium-sized international outfits like the Rainforest Action Network to multinational behemoths like the World Wildlife Fund (WWF) have actively campaigned to reform APP for the greater part of a decade.