Victory! Bank of America moves away from Mountaintop Removal! (Rainforest Action Network) updated

[Omaha Steve]

This link in the email didn't come through: http://understory.ran.org/2008/11/14/anti-coal-movement-on-the-rise-national-day-of-action-in-over-50-cities/


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."

This couldn't have happened without your help, and we are thrilled that less than three weeks after our day of action against coal and coal finance, Bank of America has shown necessary leadership in the finance industry. The decision to cease involvement in the egregious practice of mountaintop removal coal mining is the right thing to do and a tremendous validation of our work. Again, work that you make possible.

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.

This is a true grassroots win, and we want to all of you who have sent emails, made phone calls, signed petitions, donated money or time, and taken action to savor this victory! We also want to acknowledge the tireless work of our allies and partners who are fighting mountaintop removal and pressuring banks, including Coal River Mountain Watch, Ohio Valley Environmental Coalition, Alliance for Appalachia, Kentuckians for the Commonwealth, Appalachian Voices, Rising Tide, Blue Ridge Earth First, Sierra Club and Natural Resources Defense Council.

Together we are making a better future possible.

For the planet,

Becky, Scott, Bill, Annie, Ananda and Dana
Global Finance Team

[geckosfeet]

1. Closed my BOA accounts earlier this year. YAH.

[tekisui]

2. BIG KNR!!!

Never Give Up!

[pleah]

3. K&R!!!!

That is great news! :applause: :woohoo: :applause:

[barbtries]

4. good work

good news. :)

[jillan]

5. Ya know - the CEO of Bank of America publicly endorsed Obama about a month before the election.

Maybe they are finally waking up over there.

[Kali]

6. I read somewhere once that B of A actually started as some kind of progressive

workers kind of bank, anybody know anything about that? I have a couple of accounts there, just because it is convenient, but it would be great to be associated with something positive too!

[quidam56]

7. THANKS R.A.N. !!!

We appreciate all you are doing. Appalachia is Third World America. http://www.wisecountyissues.com Come see the prosperity thanks to MTR and THE COAL INDUSTRY !