PNC Bank Decides Against Funding Mountaintop Mining

9 November 2010 (Last Updated November 9th, 2010 18:30)

PNC Bank will stop financing mining projects that extract coal through mountaintop mining. As part of PNC's corporate responsibility, the bank will not fund projects or offer credit to coal mines that use mountaintop removal to extract coal. The US-based bank witnessed protests fr

PNC Bank will stop financing mining projects that extract coal through mountaintop mining.

As part of PNC's corporate responsibility, the bank will not fund projects or offer credit to coal mines that use mountaintop removal to extract coal.

The US-based bank witnessed protests from about 50 environmental activists in the summer against its alleged surface mining funding, according to businessweek.

Bank of America and Wells Fargo are among other lenders that limit their relationship with companies dealing with mountaintop removal.