Quakers protest PNC mountaintop removal financing - WOWK 13 Charleston, Huntington WV News, Weather, Sports

Quakers protest PNC mountaintop removal financing

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • UPDATE: Route 2 now open following tractor trailer accident

    UPDATE: Route 2 now open following tractor trailer accident

    Monday, August 25 2014 4:00 PM EDT2014-08-25 20:00:48 GMT
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.
  • EnergyEnergyMore>>

  • UMWA endorses Tennant at annual Labor Day Celebration in Racine, WV

    UMWA endorses Tennant at annual Labor Day Celebration in Racine, WV

    Monday, September 1 2014 3:49 PM EDT2014-09-01 19:49:35 GMT
    United Mine Workers of America will feature food, entertainment and presentations by political and labor leaders at its 76th Annual Labor Day Celebration in Boone County on Sept. 1.
    United Mine Workers of America will feature food, entertainment and presentations by political and labor leaders at its 76th Annual Labor Day Celebration in Boone County on Sept. 1.
  • Feds want nuclear waste train, but nowhere to go

    Feds want nuclear waste train, but nowhere to go

    Monday, September 1 2014 12:11 PM EDT2014-09-01 16:11:52 GMT
    The tracks were supposed to lead to a depository at Yucca Mountain in Nevada, where Congress intended to send radioactive fuel. Instead, the Obama administration cancelled a project that had been criticized as inadequate and opposed by many Nevadans.
    The tracks were supposed to lead to a depository at Yucca Mountain in Nevada, where Congress intended to send radioactive fuel. Instead, the Obama administration cancelled a project that had been criticized as inadequate and opposed by many Nevadans.
  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.

PITTSBURGH (AP) — Quaker protesters asked PNC Bank to stop funding projects that use mountaintop removal to produce coal and, if it doesn't, asking investors to divest from the sixth-largest bank in America.

About 25 protesters held signs and sang hymns Tuesday morning outside the annual PNC Financial Services Group Inc. shareholder meeting in downtown Pittsburgh.

Zachary Hershman, one of the protesters, said they chose PNC because of its connection to Provident National Corp., a bank that was founded by Quakers in the mid-1800s. On its website, PNC calls itself "a leader in eco-friendly development."

"I think what it comes down to is integrity, which means what you say has to be matched by your actions," Hershman said. The Quakers also had shareholders inside the meeting who were asking company executives to stop funding mountaintop removal, which many environmental groups say causes extensive damage to the environment and to mining communities.

During the process, coal companies remove the tops of mountains to get at deposits of coal buried near the surface, as opposed to drilling a shaft for underground mining.

The Quakers were also asking people who have PNC stock or accounts to divest until the bank stops funding mountaintop removal projects. Hershman said the divestment campaign has totaled about $3 million.

PNC spokesman Frederick Solomon declined to comment on the protest.

The Pittsburgh-based bank's own corporate responsibility report acknowledges concerns about mountaintop removal. PNC notes that it provides financing for a diverse group of energy companies, including coal, natural gas, nuclear, hydroelectric, wind, biomass, geothermal and solar.

The responsibility report also said that "despite the considerable national focus on renewable energy sources and energy efficiency, coal and natural gas will continue to supply most of America's domestic electricity demands for the immediate future," and that those industries have "filled a critical need" in communities where jobs are scarce.

 

Copyright 2013 The Associated Press.