More Banking News: Environmental Risks Getting More Scrutiny in Finance

Though there is a loooong way to go, banks are starting to give greater weight to environmental risks in evaluating credit requests. There has always been a level of scrutiny given to certain environmental risks in real estate lending projects, primarily around the area of potential pollutants specific to the site: asbestos, toxic chemicals and other ground contaminants. In today's environment, with more groups advocating for improved corporate social responsibility, increased sensitivity of consumers to environmentally-correct choices and investors showing greater concerns for the risks inherent in specific environmental practices, banks are slowing realizing that these are issues that need to be considered in weighing the profitability of specific types of financing. Wells Fargo is the most recent U.S. bank to reduce it's exposures to companies engaging in the environmentally damaging practice of mountain top removal of coal. Read here to see if your bank is among the other large financial institutions that have taken this stance.

Oil Industry Memo Calls for Rallies Against Climate Bill

Oil Industry Memo Calls for Rallies Against Climate Bill Many of the big oil companies (you know the ones with the record breaking profits in 2008, when the rest of us were getting our behinds kicked), have decided to pursue the town hall strategy of our nations' insurers and conservative groups. Since it is becoming more apparent ever year that we need to reduce our consumption of fossil fuel, disarmed with a lack of innovation and imagination, these companies are turning to their plan B - confuse, distract and misinform the masses. Hey it seems to be working for health care reform (at least that is what is being reported); so why not climate change? They seem to be saying "Let the remaining 92% of the world's population that doesn't control much wealth starve to death, fight over water rights and lose their homes to fires, rising sea levels and hurricanes, we just need to keep making shockingly huge profits - by any means necessary."

So I post this article to prepare you for the barrage of misinformation that you may be hearing or reading about in the next month. African American communities will be targeted with the threat of the loss of employment (Hello, that happened ten years ago) and rising utility bills. I just caution you to know who is behind the information and to really think through some of the talking points. The good news is that Greenpeace is on it and ready to defend our planet, its animals and its people.

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Waxman-Markey Climate Change Votes

Click here to determine how your representative voted on this historic piece of climate change legislation. Keep in mind that some Democrats may have voted against the bill due to the fact that they live in states rich in coal and oil, you must convince them that alternative energy is the right way to go for our economy, our future and our national security. To arm yourselves with knowledge read, Green Prosperity: How Clean Energy Policy Can Fight Poverty and Raise Living Standards in the United States. Noting the funding sources of the report, there are probably some biases towards clean energy, but these will just offset the aggressive advertising you are likely to see sponsored by the oil and coal companies in the next few months, as they seek to protect their interests. Diverse and disadvantaged populations will probably be the target of these ads, as they try to frighten us with tales of high prices and loss of jobs. Heck, we are already paying high prices because of the nature of our housing stock have borne the brunt of the millions of Americans laid off in the last year. Where are these coal mining companies and oil companies in our communities the other 350 days of the year? I am proud to say that my energy company is at least taking steps to get off of the coal train and experimenting with solar, wind and biofuels, although it was the result of federal action.

Exposing the Myth of Clean Coal Power - TIME

Exposing the Myth of Clean Coal Power - TIME I went to a presentation last year where DOW Chemical and the Battelle Institute were extolling the virtues and research of clean coal technology, primarily carbon sequestration. Carbon sequestration basically takes the pollution and carbon dioxide generated from coal plants and re-directs the toxins deep underground. Well after listening to an NPR broadcast on this issue, reading about the TVA coal ash spill, and reading this article, I have my doubts. I think we should pursue this technology, but we need to direct our tax and research dollars into alternative energy and energy efficiency.