BIG BANKS BACK BIG COAL

Banks and Coal
November 30, 2011 (BankTrack)

"…From concerns over air pollution and acid rain to its destructive impact on climate, coal has been recognised as the dirtiest, most dated and most inefficient fossil fuel option.

"Coal is the most emissions intensive fossil fuel and the leading cause of climate change…In addition, thousands of miners die in coal mines every year around the world while some mining companies top entire mountains for the extraction of coal…"

click to enlarge

"Despite this, coal is experiencing a global boom, and [as shown in Bankrolling Climate Change] private banks are making large sums of money by financing the expansion of coal extraction and combustion.

"To avoid the devastating impacts of their investments, private banks must take steps to disengage from all activities and projects that substantially contribute to climate change and environmental and communities degradation…"