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SAN FRANCISCO -- After four years of grassroots mobilization, Rainforest Action Network today declared victory in its campaign to transform the environmental practices of the world's largest financial institution, Citigroup (NYSE: C). The release of "Citigroup New Environmental Initiatives" (www.citigroup.com/citigroup/citizen/environment.) raises the bar for the financial sector in areas related to deforestation and indigenous rights, endangered ecosystems and no-go zones, greenhouse gases and climate destabilization, and clean energy and sustainable development. Rainforest Action Network today also sent letters to ten of the most destructive U.S. banks challenging them to catch up with modern social values and "meet or beat" Citigroup's policies.
Among "The Liquidators" are the laggards of Wall Street, lenders that are liquidating the Earth's most valuable natural assets to post short-term profits at a long-term cost to the world. "The Liquidators" include JP Morgan Chase (NYSE: JPM), Bank One (NYSE: ONE), Bank of America (NYSE: BAC), Fleet Boston Financial (NYSE: FBF), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), John Hancock (NYSE: JHF), Wachovia (NYSE: WB), U.S. Bancorp (NYSE: USB) and SunTrust (NYSE: STI). …