The New York Action Network has joined RAN’s campaign to force Wall Street’s biggest bank out of Appalachia.
Right now, JP Morgan Chase (JPMC) is the biggest financier of coal companies destroying our Appalachian Mountains.
Check out the video they made after they visited Chase branches all over Manhattan on Friday and Saturday.
If you are in NYC and want to get involved, contact Jeremy at jeremy@nyactionnetwork.org
And if you are wondering why we’ve targeting JP Morgan Chase, here’s some fun facts about their funding of mountaintop removal:
- JPMC is funding 6 out of the top 8 corporate producers of mountaintop removal coal in Appalachia–Massey, International Coal Group, Arch Coal, Consol Energy, TECO and Foundation Coal.
- JPMC is likely to have additional financing relationships with large privately held mountaintop removal mining companies.
- JPMC was a co-lead arranger and underwriter for more than $1 billion in new financing to Massey Energy less than 12 months ago. Massey Energy is the biggest and most controversial mountaintop removal mining company in Appalachia, and is responsible for nearly 20% of all mountaintop removal coal mined.
- First Wells Fargo and then Bank of America both dropped Massey Energy as a client due to growing public attention and enhanced reputational risk posed by their continued association with this notorious company. Does JPMC think no one will notice now that they have taken on Massey Energy as a client?
- Mountaintop removal mining corporations that are known to have benefited from recent JPMC financing are responsible for more than one third of the total mountaintop removal mined coal produced last year in Appalachia.
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