Offical Notice: Cease Financing Coal
To: Bank of America, Citi, JPMorgan Chase, Morgan Stanley, PNC and Wells Fargo: We regret to inform you that this bank is being put on Notice. Effective immediately you must begin to cease all financing of coal-fired power-plants and related infrastructure. The Rainforest Action Network, our supporters and allies, being inhabitants of this planet, do hereby give you notice to cease and desist all coal financing. Furthermore, you are hereby required to protect public health, economic security and the climate. First and foremost by limiting your exposure to coal financing and, thereby, limiting our exposure to air, water and climate pollution.
Furthermore, you must cease and desist financial relations with the nation’s leading coal companies until they end their addiction to coal, including but not limited to: AES Corporation; Alcoa Inc; Allegheny Energy; ALLETE Inc; Alliant Energy; Ambre Energy; Ameren Corporation; American Electric Power (AEP); Arch Coal; Atlantic Power Corporation; Berkshire Hathaway; Black Hills; Corporation; CMS Energy; Constellation Energy Group; Dominion Resources; DTE Energy Company; Duke Energy Coporation; Dynegy Inc; Edison International; Empire District Electric Co; Entergy Power; Generation Corp; FirstEnergy Generation Corp;Great Plains Energy; MDU Resources Group; MGE Energy; NiSource Inc; NRG Energy Inc; NVEnergy; Peabody Energy; PNM Resources; PPL Corporation; Progress Energy; RRI Energy; SCANA Corporation; Southern Company; SSA Marine; TECO Energy; Transalta Corporation; UGI Corporation; Unisource Energy Development Company; Waste Management Inc; Westar Energy Inc; Westmoreland Coal Company; and Xcel Energy Inc.We hereby demand that you adopt firm policies to include the following criteria:
- No financing for companies pursuing new coal-fired power plants and life-extending retrofits of existing coal-fired power plants.
- No financing, for companies engaged in mountaintop removal coal mining.
- No financing for companies pursuing coal export infrastructure.
- Shift the balance of your energy financing to support power generation that is less threatening to our health and environment.
Consider this your first warning. You are on notice to shift the focus of your energy portfolio to support clean, renewable power generation in the United States. Rainforest Action Network will be monitoring you. You have three months. After which, we are prepared to apply public pressure to evict your coal portfolio and move clean energy into its place. You can tell the country’s biggest banks to stop funding dirty coal and start investing in clean energy alternatives!