By In solidarity with Wise County residents – who shut down the construction of Dominion Resources’ Coal Power Plant in Wise County, Va this morning, activists in New York arrived at Citibank’s Manhattan doorstep to remind the bank of their ongoing financial support for Dominion and other coal utility companies.
- Citi still guilty of financing coal
Since their announcement of the carbon principles – new environmental standards designed to help banks assess the risk associated with investments in coal power, Citi has continued to provide financial assistance to Dominion Resources. Along with Barclays, JP Morgan Chase and Merrill Lynch, Citibank served as joint book-running managers for the sale of $ 1.2 billion of Dominion debt securities in June, 2008.
Dominion currently operates over 30 coal-fired power plants in the US and is proceeding with the construction of a 585 MW coal plant in Wise County, despite widespread opposition amongst Virginians.