Bank of America has announced that it will stop lending to coal companies that obtain most of their coal from mountaintop removal mining (Hat Tip: Rainforest Action Network ). This is great news for all of us who have been fighting this incredibly destructive form of mining. (Notwithstanding that the policy itself looks a little squishy.) If BofA is serious about halting this practice, how about now extending the ban on lending to projects and companies that use lots of mountaintop removal coal?
In seeking approval for the controversial Wise County powerplant (a.k.a. St. Paul for the town where it is being built) Dominion pledged that the plant would consume only Virginia coal. But nearly all of Virginia coal is obtained by mountaintop removal mining.
Next question: Is BofA involved in funding the Wise County plant or any other Dominion projects? Since Dominion uses lots of mountaintop removal coal, should BofA stop lending to Dominion?
Sunday, December 7, 2008
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