01 Dec '11, 9pm

Chase Spends $22 Billion Annually on Coal, Tops List of '20 Climate Killing Banks'

Chase Spends $22 Billion Annually on Coal, Tops List of '20 Climate Killing Banks'

Senor Codo via Flickr /CC BY 2.0 We've long known that JP Morgan Chase is one of the world's foremost investors in coal. The giant bank has been roundly criticized for, among other things, funding immensely destructive mountaintop removal operations. So it should come as no surprise that the institution spends an estimated $22 billion annually on coal investments. And that helped Chase earn the top slot in a recent BankTrack analysis of the financial institutions that invest most heavily in "climate-killing" coal. Indeed, the ethical banking organization has just unveiled a list of the Top 20 'Climate Killer' Banks, and there are few surprises. Here are the numbers: Bank Track /Screen capture As you can see, the runners up are also big American banks. Citi invests $18.27 billion annually, and Bank of America dumps $16.79 billion into the coal industry. The report also expl...

Full article: http://www.treehugger.com/corporate-responsibility/top-20...

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