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Morgan Stanley and Wells Fargo Cut Coal Financing, Join Growing Movement by Banks in U.S. and Europe


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Morgan Stanley and Wells Fargo Cut Coal Financing, Join Growing Movement by Banks in U.S. and Europe

SAN FRANCISCO, Calif. - Today, Morgan Stanley and Wells Fargo released new commitments to cut financing for the global coal industry. Wells Fargo’s policy committed to reduce the bank’s lending to coal mining companies. Morgan Stanley’s policy went further, covering both lending and underwriting, and committing to end financing for coal-fired power plant construction in developed countries.

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