Barclays Claims Exit From Financing Mountaintop Removal Coal Mining - Guardian
Barclays has ended its financing of a controversial coal mining method known as mountaintop removal and said time is running out for the practice. The bank was the world’s biggest financier of mountain top removal (MTR) in 2013, when it loaned MTR companies $550m, according to one analysis.
But in a policy document, released without publicity during March, Barclays reversed its position. Companies that engage in MTR coal mining will no longer receive support from the bank unless they commit to moving out of MTR “within a reasonable timeframe”.
MTR is widely used in the Appalachian mountains in the eastern US. It involves blasting and shifting the tops of hills and mountains to expose the coal beneath. The rubble and spoil is dumped in the valleys below.
In the US states of Kentucky, Tennessee, West Virginia, and Virginia the method has been vehemently opposed by climate campaigners and local activists for its environmental impacts, including deforestation and the pollution of watercourses, and climate change impact. MTR has also been linked to severe health impacts. Last year a team of scientists from West Virginia University linked the dust created by the strip mining to lung cancer in nearby communities.
EDIT
http://www.theguardian.com/environment/2015/apr/07/barclays-ends-financing-of-controversial-mountaintop-removal-mining