Today at its annual general meeting the Bank of America announced that it is cutting off credit for coal mining projects.
"Today, our renewable energy portfolio is more than three times as large as our coal extraction portfolio," said Andrew Plepler, Bank of America's Corporate Social Responsibility.
A new coal report out today finds that despite growing risk, major banks continue to pump billions into the global coal industry. However, there are growing signs that coal is falling out of grace with major lenders.
This article is co-authored by Kert Davies at the Climate Investigations Center.
Peabody Energy (NYSE: BTU), as their website exclaims in big bold letters, is the "World's Largest Private Sector Coal Company", with 130 years of experience building big shovels and sending men into mines to chip out black rocks and put them on trains.
A story out on Energy and Environment today is reporting that the US coal company Cloud Peak Energy Inc. (NYSE: CLD) is lobbying hard to continue to "dodge royalty payments to taxpayers and Western states."
The coal industry’s efforts to export huge amounts of taxpayer-owned coal from Montana and Wyoming to Asia has generated unprecedented opposition in the Pacific Northwest - tens of thousands of people have rallied, attended public hearings, and called on their elected officials to oppose coal export terminals that would disrupt and pollute communities and pose one of the biggest threats to the climate of any fossil fuel project in the world.
Today, Duke Energy, the biggest electric utility in the country, announced that it is shutting down two coal-fired power plants near Charlotte, North Carolina — the Buck and Riverbend plants.
The closures are great news, both for communities in North Carolina who want healthy air and water, and for everyone around the world, since burning coal is the leading U.S. cause of global warming.
There’s a new front line in the battle to prevent catastrophic climate change.
Companies like Arch, Ambre, and Peabody want to ship the coal buried under the United States to Asia, releasing disastrous amounts of carbon pollution, just to line their own pockets. This expansion in US coal exports could release more carbon pollution than any other new fossil fuel project in the United States, according to a new report Greenpeace released today.
Today, hundreds marched and saw fourteen community and climate activists arrested as the Midwest Rising! Convergence took the streets of St. Louis to protest Bank of America and Peabody Coal.
The arrest action occurred in the intersection connecting Bank of America's St. Louis offices and Peabody's national headquarters.
It’s going to be some hot business this summer, and we ain’t talkin about the triple digit heat wave hitting much of the country. There is a rebellious spirit sweeping the U.S.A. as people are fighting back against the fossil fuel industry from coast to coast.