Bank of America Reverses Stance on Financing Petroleum, Gas & Coal
The policy, updated in December, says that such projects will instead be subject to “enhanced due diligence.”
According to the New York Times, Two years ago, Bank of America won favor from climate activists for saying it would no longer finance new coal mines, coal-burning power plants or Arctic drilling projects because of the toll they take on the environment.
The bank’s latest environment and social-risk policy reneged on those commitments. The policy, update…
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