Rainforest Action Network Targets Citi and Bank of America as World’s Top Financiers of Coal and Climate Change

Yesterday, Rainforest Action Network’s Global Finance team held a press conference announcing to the world that we are formally launching a campaign against the world’s two largest banks - Citi and Bank of America. Why? Because they are the top funders of the dirty coal industry - and the crucial link supplying billions of dollars to companies and projects that are destroying communities, our environment and our climate. Coal is the top source of greenhouse gas emissions - and if the current proposed coal power plants are built, all other current efforts to fight climate change will be negated.

These two banks account for around $4 trillion in assets - and it’s time we held them accountable for their investments. By transforming the way banks interact in the market - we can shift the entire market away from destructive investments and projects. They hold the necessary capital to transform our economy away from destructive fossil fuels like coal, and towards one based on sustainable, equitable, clean energy.

You can read all about the campaign at the Global Finance homepage, see our press release announcing the campaign, and read our latest report: Banks, Climate Change, and the New Coal Rush. And if you missed out on the great conference this morning - you can listen to the recording here.

The press conference featured:

Becky Tarbotton (Director of RAN’s Global Finance Campaign)
Bill McKibben (Author and founder of Step It Up!)
Judy Bonds (West Virginia coal-field resident, and founder of Coal River Mountain Watch)
Leslie Lowe (energy/environment director at the Interfaith Center on Corporate Responsibility)

What are the next steps? How can you get involved?

Learn more on our website!
Get on our email list! (just today, RAN supporters flooded Citi and BoA’s execs with thousands of emails)
Come to Powershift 2007! RAN will be out in force with workshops on coal and banks!
Organize for the Nov 16th Day of Action Against Coal Financing! DirtyMoney@ran.org for info!

-Matt

About Matt

Matt likes to ride his bike around the San Francisco area, climb rocks, play soccer, wrestle with dogs, hit the drums, strum the guitar, eat yummy vegan food, and find ways to constructively challenge the social and ecological destruction capitalism presents us with. He works with Rising Tide North America and Bay Rising Affinity Group.

4 Responses to “Rainforest Action Network Targets Citi and Bank of America as World’s Top Financiers of Coal and Climate Change”

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1 Whit Jones Oct 3rd, 2007 at 6:10 pm

Nice! As an ashamed cardholder of Bank of America, what can I do?
2 mattreitman Oct 4th, 2007 at 1:23 am

hooray. nobody likes coal except when its deep in the ground.
3 Darmok Oct 4th, 2007 at 2:10 am

Wow! Hopefully this will help to hold them accountable for their effects of their actions.
4 Josh Arnold Oct 7th, 2007 at 12:45 am

RAN - way to confront the crux of the issue, as always. We must always follow the $ trail and hold those accountable who contribute to such a descrtuctive system. We all vote with our wallet, how we invest money, and how we invest time. Let us all have the courage to rethink these aspects of our life and fully align those decision with our social and environmental values. Nice job RAN.

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