30 Nov '15, 7pm

Morgan Stanley and Wells Fargo Cut Coal Financing, Join Growing Movement by Banks in U.S. and Europe via @ran:

Blair FitzGibbon, 1-202-503-6141, [email protected] Morgan Stanley and Wells Fargo Cut Coal Financing, Join Growing Movement by Banks in U.S. and Europe Rainforest Action Network Calls on Banks to End All Financing for Coal (SAN FRANCISCO, November 30, 2015) — Today, Morgan Stanley and Wells Fargo released new commitments to cut financing for the global coal industry. Wells Fargo’s policy committed to reduce the bank’s lending to coal mining companies. Morgan Stanley’s policy went further, covering both lending and underwriting, and committing to end financing for coal-fired power plant construction in developed countries. These policy changes follow similar coa l financing cuts at eight other banks earlier this year (Bank of America, BNP Paribas, Citigroup, Crédit Agricole, ING, Natixis, and Société Générale). Morgan Stanley’s commitment followed public pressure f...

Full article: http://www.ran.org/morgan_stanley_and_wells_fargo_cut_coa...

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