It seems that Merrill Lynch have found themselves in a spot of bother with The Rainforest Action Network of San Francisco, and the Washington- based Energy Action Coalition. It appears that both organisations mounted a mock “Billionaires for Coal” demonstration at Merrill’s New York headquarters, in a sarcastic protest of the firm’s role in financing coal-fired power plants.
The protesters dresses up as billionaires, delivered bags of coal and held signs supporting Merrill’s efforts in financing the USD10 billion needed to construct 11 coal-fired plants in Texas by TXU Corp., a Dallas-based utility company. Citigroup Inc. and Morgan Stanley, both of New York, also are involved in the financing.
The environmental groups claimed that the plants’ carbon emissions would be equivalent to putting 14 million new cars on the road.