PNC to Stop Financing Mountaintop Removal

PNC Bank, based in Pittsburgh, says it will stop financing projects that extract coal using the controversial form of surface mining known as mountaintop removal. West Virginia Public Broadcasting's John Hingsbergen filed this story, based on reports from The Associated Press.

PNC Bank says it will stop financing projects that extract coal using the controversial form of surface mining known as mountaintop removal.

PNC says, in a corporate responsibility statement updated late last month, that it will no longer fund the projects or "provide credit to coal producers whose primary extraction method is" mountaintop removal.

About 50 environmental activists gathered at a Lexington PNC branch over the summer to protest the bank's alleged funding of the surface mining projects.

PNC spokesman Fred Solomon declined to comment today on the bank's investments. He says the corporate statement "speaks for itself."

Other large commercial lenders, like Bank of America and Wells Fargo, have announced in recent years that they would limit their relationships with companies that use mountaintop removal.