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PNC could pay for funding mountaintop removal mining
The activist group Earth Quaker Action Team is launching a "Green Your Money" campaign to pressure PNC to stop funding dirty coal mining practices.
PNC could pay for funding mountaintop removal mining
Two years into a campaign to pressure PNC Bank — the largest financier of mountaintop removal coal mining — to stop funding companies that continue the destructive practice, Earth Quaker Action Team has decided to let activists' money do the talking. Chestnut Hill Friends Meeting has pledged to withdraw $1.9 million from PNC by May 31, and activists hope other PNC customers will follow suit in a new "Green Your Money" initiative.
Earth Quaker Action Team's Walter Sullivan says that after previous protests, "PNC Bank issued a new policy that appeared to distance them from mountaintop removal coal mining, but there's been no tangible, observable change in their financing practice in this area.... They said that they would no longer finance exclusive mountaintop removal coal-mining projects or companies that had more than 50 percent of their activities in mountaintop removal coal mining; since then, they have written loans to four of the five largest companies that account for 47 percent of all mountaintop removal coal mining in the U.S."
The group is also helping students at Penn, Temple and other colleges where PNC has exclusive banking agreements to take the company to task. A meeting between PNC and students earlier this year didn't appear to yield immediate results, so students will also be organizing to withdraw funds from PNC.
The Green Your Money campaign kicks off with a meeting at the Friends Center at 1515 Arch St. Wednesday at 11:30, followed by a march to PNC’s Philadelphia headquarters at 1600 Market St.
Excellent. The free market at its finest. Bank treats people like shit? Take your business elsewhere.— thegreengrass
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