Last week, RAN’s coal finance campaign released its latest report, “The Principle Matter: Banks, Climate & The Carbon Principles.” The report shows that despite adopting the Carbon Principles — once a much heralded “new path” for the banking industry — what we’ve seen in practice is still just “business as usual.”
Along with releasing the report to the media, RAN activists decided to hand-deliver copies of the report to six of the big banks that have signed onto the Carbon Principles. (We also held an event outside of Duke Energy’s coal-fired power plant in Cliffside, NC to highlight the types of investments banks should NOT be making.)
Bankers at Citi, Chase, Wells Fargo, Credit Suisse and Morgan Stanley have now received copies of the report. They’ve officially been put on notice: It’s time that Wall Street quit playing nice with Big Coal.
Last year, Wall Street and international banks took the unprecedented step of shifting away from mountaintop removal coal mining. Now it’s time that they move away from dirty energy completely. Tell the Banks to Quit Funding Dirty Coal.
Here are some pics from our deliveries:
