For Immediate Release
Contact: Lisa Swann
December 4, 2008
202 368-5033

 

Earth Day Network Applauds Bank of America for Phase Out of
Mountaintop Mining Financing

Statement of Kathleen Rogers, Earth Day Network President:

“Earth Day Network applauds Bank of America’s decision to phase out financing of companies that carry out mountaintop mining operations. This devastating form of coal mining has wreaked havoc on communities and workers throughout Appalachia and other coal-mining states and left a wide path of destruction with entire mountaintops destroyed and waste dumped into rivers and streams.”

“This controversial means of coal mining has united activists in coal-mining areas and environmentalists who oppose its war on the mountains, forests, hills, rivers and streams of the region. Coal mining, especially mountain-top removal, shatters communities and the health of their residents. The jobs provided by the coal industry must be replaced by green jobs as part of the retooling of America.”

“We call on other major banks to follow in Bank of America’s footsteps and also end financing for mountaintop removal operations. However, we cannot stop here; After the EPA’s decision to regulate the CO2 emissions that come from new coal-powered plants, it is increasingly obvious that the only path to curbing climate change is to end our dependence on coal-fired electricity, which accounts for almost 30 percent of the US carbon emissions. Therefore, Earth Day Network calls for all banks to stop investing on coal mining and coal-generated power, and for Congress and the new Administration to follow suit and pass a moratorium on all new coal-fired plants.”

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