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PNC To Halt Mountaintop Mining Financing http://apocadocs.com/s.pl?1289319021
PNC Bank has announced it will stop financing projects that extract coal using a controversial form of surface mining known as mountaintop removal.
The Pittsburgh-based company is the latest of a group of major commercial lenders that have backed away from underwriting mountaintop removal projects after pressure from environmental activists.
PNC said in a statement it will not fund individual projects or "provide credit to coal producers whose primary extraction method is" mountaintop removal.
The surface mining practice has for years attracted the ire of activists and Appalachian residents, who say it contributes to environmental degradation and water pollution. In June, a group of 50 activists gathered at a downtown PNC bank branch in Lexington to protest the bank's alleged lending to mountaintop removal projects.
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'Doc Jim says:
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Especially given election results, PNC's decision is delightfully Politically Not Correct.
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