Call to action against coal industry investors on the International Day of Action against Climate Change and the G8

Call to action against coal industry investors on the International Day of Action against Climate Change and the G8

The G8 leaders meeting in Germany behind their fences and soldier are leading us further towards catastrophic and irreversible climate disaster. The time has come to act.

The international day of action against climate change and the G8 has been called by the international rising tide network. This is a call for autonomous, decentralized actions appropriate to your city or region. Use this day of action to support local struggles against oil refineries, gas pipelines, strip mines, coal fired power plants, airport expansion, new roads, and financial backers. Actions are planned throughout the G8 countries and around the world. For more information including the full call to action check out www.risingtidenorhtamerica.org and www.risingtide.org.uk

The coal industry like, all industries relies on massive investments from Wall Street and international financial institutions such as Bank of America and Citigroup. They fund everything from strip mines, to the newest wave of dirty coal plants. Without these massive influxes of capital, coal companies would be severely restricted in their ability to maintain and expand their destructive extraction operations. Rising Tide North America is calling for actions against the financial backers of coal companies on June 8th in solidarity with the G8 protests in Germany and against the root causes of climate change. Targeting banks and investors is an easy and direct way to lend solidarity to communities fighting against the devastation of their homelands by greedy coal corporations. Below is a by no means comprehensive list of investors:

Bank of America:

Major subsidiaries and brands: MBNA Credit Cards, FleetBoston Bank

2006 Revenue: $117 billion

Headquarters: Charlotte, NC

CEO: Ken Lewis

Website: http://www.bankofamerica.com

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, Cleco Corp, Consol Energy (CNX), Florida Power & Light, Foundation Coal Holdings, International Coal Group, Massey Energy, Peabody Energy, WPS Resources.
Citi Inc.

Major subsidiaries and brands: Citigroup, CitiCorp, Smith Barney, Diners Club Credit Cards, CitiCard Credit Cards, Primerica, BanaMex.
Headquarters: New York, NY
2006 Revenues: $146 billion
CEO: Charles “Chuck” Prince
Web Site: http://www.citigroup.com

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, Ameren, Arch Coal, American Electric Power, China Coal Energy Company, Consol Energy (CNX), Dominion Resources, Duke Energy, Dynegy, Florida Power & Light, Foundation Coal Holdings, LS Power, Massey Energy, Mid-American Energy, NRG Energy, Ohio Edison Electric (FirstEnergy), Peabody Energy, PPL Energy, Rio Tinto, Southern Company TXU, Xcel Energy, WPS Resources.

Credit Suisse:

Headquarters: New York, NY, with parent offices in Zurich, Switzerland
2006 Revenues: $7 billion (US arm only)
CEO: Brady W. Dougan
Web Site: http://www.credit-suisse.com/

Known Recent Financial Involvement with the following coal and power companies:

American National Power (International Power) Duke Energy, Dynegy, LS Power, MidAmerican Energy, Ohio Edison Electric (FirstEnergy), Peabody Energy, PPL Energy, TXU.

Goldman Sachs:

Headquarters: New York, NY
2006 Revenues: $69 billion
CEO: Lloyd C. Blankfein
Web Site: http://www.gs.com/

Known Recent Financial Involvement with the following coal and power companies:

American National Power (International Power), Cleco Corp, Duke Energy, Energy Capital Partners, GenPower Holdings, LS Power, Massey Energy, Missouri Joint Municipal Electric Utility Commission, Sierra Pacific Resources (Nevada Power and Sierra Pacific Power), Southwestern Electric Power, (American Electric Power), TXU, Xcel Energy. International Coal Group,

JP Morgan Chase:

Major subsidiaries and brands: JP Morgan & Co. merged with Chase Manhattan in 2000. Merged with Bank One of Chicago in 2004. Pier 1 National Bank

Headquarters: New York, NY
2006 Revenues: $61 billion
CEO: Jamie Dimon
Web Site: http://www.jpmorganchase.com

Known Recent Financial Involvement with the following coal and power companies:

Consol Energy (CNX), Dayton Power & Light, Dynegy, Great River Energy, International Coal Group, LS Power, MidAmerican Energy, Mirant, Missouri Joint Municipal Electric Utility Commission, Peabody Energy, TXU, Unisource Energy.

Lehman Brothers:

CEO: Richard S. Fuld.

Headquarters: New York City, NY

2006 Revenues: $46 billion

Website: http://www.lehman.com/

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, Arch Coal, Dynegy, Florida Power & Light, International Coal Group, Peabody Energy, Sierra Pacific Resources (Nevada Power and Sierra Pacific Power) Southwestern Electric Power, (American Electric Power), TXU, Xcel Energy,

Merrill Lynch:

Major subsidiaries and brands: 49% owner in BlackRock Inc, one of the largest investors in climate-damaging energy industries worldwide.
Headquarters: New York, NY
2006 Revenues: $70 billion
CEO: Stan O’Neal
Web Site: http://ww.ml.com

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, BlackRock Inc. LS Power, Sierra Pacific Resources (Nevada Power and Sierra Pacific Power).

Morgan Stanley:

Major subsidiaries and brands: Dean Witter, Discover Credit Card.
Headquarters: New York, NY
2006 Revenues: $76 billion
CEO: John Mack
Web Site: http://www.morganstanley.com

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, American National Power (International Power), DPL Inc., Dynegy, China Coal Energy Company, Duke Energy, Florida Power & Light, International Coal Group, LS Power, James River Coal, Peabody Energy, TXU, Xcel Energy, Wisconsin Electric.

Wells Fargo:

Headquarters: San Francisco, CA
2006 Revenues: $35 billion
CEO: Richard Kovacevich
Web Site: http://www.wellsfargo.com/

Known Recent Financial Involvement with the following coal and power companies:

Alpha Natural Resources, Consol Energy (CNX), MidAmerican Energy, Peabody Energy, Unisource Energy, Xcel Energy

Bookmark the permalink.

Comments are closed