Yesterday, RAN celebrated a great victory! Bank of America posted a new coal policy on its website announcing that it will phase out financing of mountaintop removal coal mining!
Here's the commitment in their words:
"Bank of America is particularly concerned about surface mining conducted through mountain top removal in locations such as central Appalachia. We therefore will phase out financing of companies whose predominant method of extracting coal is through mountain top removal. While we acknowledge that surface mining is economically efficient and creates jobs, it can be conducted in a way that minimizes environmental impacts in certain geographies."
Rainforest Action Network was largely responsible for the action:
They state - "Since we launched our "No Coal" campaign against Bank of America and Citi last October, one of our central demands has been that they stop providing support for mountaintop removal coal mining. We applaud Bank of America for taking this important step to reduce its financing of dirty coal. But we also need to keep the pressure on them -- as well as on Citi and other banks that finance coal -- to ensure that they continue to curtail financing for dirty energy and start funding the future through energy efficiency and renewable energy."
RAN is one of the most effective environmental groups, dollar for dollar and has brought about a tremendous amount of change in corporate America.
RAN ON!
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