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,…
Banks Forgo Coal Fee Revenues And Make Environmental Stand
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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