Ask Lenders to Consider Climate Impact When Funding New Coal Plants

Recently three of the nation's largest investment banks — Citi, JP Morgan Chase and Morgan Stanley — announced that they will begin using new environmental principles when considering loans for proposed coal-fired power plants. The banks aren't yet saying "no" to new coal power, but for the first time, some leading financial institutions are saying it's time to at least examine the global warming implications of their investments.

This is good news and a move in the right direction: there are over 70 coal plants proposed in 40 states right now, many of which will require loans from banks like these.

It will be difficult for coal-fired power plants to be built when lenders consider coal's climate impacts. Instead, investors will be encouraged to choose efficiency and clean alternatives -- which will create new jobs and help solve the climate crisis.

This is just another example of people realizing that global warming needs action today — not five years from now. Clean energy options exist, and we need them implemented.

Add your name to our petition:

"I want to thank Citi, JP Morgan Chase and Morgan Stanley for adopting climate investment principles, urge them to take additional steps and call on other lenders to undertake similar measures."