Bank of America to phase out coal investmentsAfter a multi-year campaign aimed at pushing the Bank of America to end its support for coal projects the company unveiled its new coal phase-out policy at its annual general meeting. The bank states that it will help “accelerate the transition from a high-carbon to a low-carbon society and from high-carbon to low-carbon sources of energy” and “continue to reduce our credit exposure over time to the coal mining sector globally.” Amanda Starbuck from Rainforest Action Network welcomed the new policy: “Bank of America has gone from being the worst bankroller of coal to having the strongest global coal mining policy of any major global bank.” (Bank of America, Rainforest Action Network) Suggested Tweet: After a 4-year campaign @bankofamerica moves to dump #coal http://a.ran.org/f1u pic.twitter.com/vTVrG4lRy2 Alcoa cans obsolete Australian power plantA sustained community campaign has forced Alcoa Australia to announce that its obsolete 150 megawatt (MW) Anglesea brown coal power station in Victoria will close on August 31. The 46-year-old plant was built to supply power to Alcoa’s nearby Point Henry aluminium smelter. After shutting the smelter in July 2014 Alcoa kept the power station operating in the hope of finding a buyer. However, faced with a high-profile community campaign pushing for the highly polluting plant to be shut, Alcoa failed to attract buyers. Residents and environmental groups are now seeking to ensure the company properly rehabilitates the mine, which is in an ecologically-rich coastal heathland. (The Age) Suggested Tweet: @Alcoa cans obsolete Australian #coal plant – now it’s time to clean up the mess http://bit.ly/1G4yRlE @SCAA3230 pic.twitter.com/dmkj1G78IM |