Banks Forgo Coal Fee Revenues And Make Environmental Stand

As the Paris climate summit heats up, with a key issue being reduction of worldwide coal consumption, Morgan Stanley and Wells Fargo have joined with other large banks to reduce financing for certain firms who might be at the root of causation for global warming. The move comes as activist pressure on the issue is motivating politicians and the mining industry in general appears over-leveraged.

Coal as been significant component of industrial growth, and India and China want their economies to prosper

Coal is a cheap and abundant, driving industrial expansion and economic consumerism first in northern Europe and later, as the industrial revolution spread across...