October, 08 2015, 03:45pm EDT
For Immediate Release
Contact:
Rallies Outside Morgan Stanley Locations in NYC, SF, DC, LA, Atlanta, Boston, Chicago, Philadelphia & Houston
National Day of Action Demanding Morgan Stanley Drop Coal Financing
WASHINGTON
Last week, Rainforest Action Network launched a global campaign to pressure Morgan Stanley to stop cashing in on coal. This Friday, activists will rally outside of Morgan Stanley branches in 9 major cities asking the bank to stop investing in the coal industry. Earlier this week Citigroup announced cuts in coal financing after major pressure from RAN for months.
Who: Rainforest Action Network, climate movement activists, grassroots community members
What: National Day of Action Against Morgan Stanley
When: Friday, October 9, 2015
Where: Morgan Stanley branches in NYC (Headquarters), San Francisco, Los Angeles, Washington DC, Atlanta, Boston, Chicago, Houston and Philadelphia.
Why: This week Citigroup announced cuts in coal financing after months of pressure from RAN. Last May, RAN successfully pushed Bank of America to cut financing for coal mining after a four-year campaign. Since then, RAN has been working behind the scenes to push Wall Street banks to meet or exceed Bank of America's policy. Morgan Stanley continues to finance coal's worst of the worst.
"Morgan Stanley has conducted half a billion dollars worth of coal mining deals in 2014 and continues to lend to companies like Peabody Energy, the world's largest private sector coal mining giant," said Ben Collins, Rainforest Action Network Senior Campaigner. "Morgan Stanley also financed $1.2 billion for the largest coal fired power plant operators in the world last year, while continuing to finance mountaintop removal coal mining, at a time when eleven of Morgan Stanley's competitors have committed to cut financing for this horrific practice."
Rainforest Action Network (RAN) is headquartered in San Francisco, California with offices staff in Tokyo, Japan, and Edmonton, Canada, plus thousands of volunteer scientists, teachers, parents, students and other concerned citizens around the world. We believe that a sustainable world can be created in our lifetime and that aggressive action must be taken immediately to leave a safe and secure world for our children.
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