Two years ago, no bank had a policy on coal mining. The most successful banks in the world were happy to finance one of the most destructive forms of mining on Earth, mountaintop removal coal mining (MTR), with no consequences. Not any more.
Thanks to you, Citi, JPMorgan Chase, Bank of America, Credit Suisse, Morgan Stanley and now Wells Fargo, have all publicly confirmed that they are moving away from bankrolling the destruction of America's mountains. We've shifted an entire powerful industry together. It's remarkable.
Money talks - and it is saying loud and clear that mountaintop removal coal mining is a bad investment. With the move away from MTR, our country's top banks are showing that they know they can do well while doing good for our environment and our public health.
But the fight for America's mountains isn't over. Coal companies, like the notorious Massey Energy, are finding new banks to fund their destructive practices. It's time to finish what we started.
Unlike most of its American counterparts, Swiss banking giant UBS is still in the MTR business.