JPMorgan's war on nature: mountaintop removal coal mining
- JPMorgan's war on nature.
By Andy Kroll Mother Jones 1 April 2010
JPMorgan backstops one of the most destructive mining practices in the
world: mountaintop removal coal mining. And it continues to do so even
as other major banks have cut ties to this practice.
JPMorgan Chase has helped to underwrite nearly 20 bond or loan deals,
worth a combined $8.5 trillion, for some of the biggest players in the
MTR mining business, according to data from Bloomberg.
When mining companies deforest a mountaintop before demolition, they
engage in a practice that overall contributes 25 to 30 percent of
greenhouse gas emissions each year.
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