Thursday, August 14, 2008

New Report: Cashing in on Coal

Important new report (source)

From concerns over air pollution and acid rain, to the recent rising awareness of carbon emissions and climate change, coal has been recognised as the dirtiest and most inefficient fossil fuel option.

Despite this, coal is experiencing a global boom, with corporations opening new mines and commissioning new power stations. High street banks are making millions by providing the financial fuel that drives this expansion of coal extraction and combustion. This report examines the role in the last two years of the Royal Bank of Scotland (RBS), HSBC and Barclays in providing and arranging the financial means to the coal industry to extract and burn vast quantities of coal.

Published by BankTrack, Friends of the Earth - Scotland, People & Planet, Scottish Education and Action for Development, Stop Climate Chaos and PLATFORM.

Download the report from here.

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Climate Change Action

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