After four years of direct-action campaigns and grassroots organizing, San Francisco-based Rainforest Action network (RAN) claimed victory in its efforts to persuade finance giants to invest in more environmentally sound practices. Citigroup announced January 22 that it will adopt an additional set of environmental initiatives that include scrutinizing loan requests that might "adversely impact a critical natural habitat" and denying funding to commercial rainforest loggers. Citigroup also states that it will support renewable energy projects and report emissions of greenhouse gases from its current energy investments. According to the bank's Web site, "this is the first time a private bank will offer such data," and it will be "produced with methodologies peer reviewed with experts and NGOs."
Source: "In Short: RAN Takes it to the Banks," In These Times, 3/15/04, 7