Am I Supporting Dirty Energy Investments?

I'm putting my money where my mouth is this week. Due to a short respite from lead-footing around the North East on assignments, I finally have time to focus on the financial crisis everyone is worrying about.

Of the many companies and banks in foreclosure, why haven't either of my mega-banks, Citi and M&T suffered? Not that I want them to because that would affect my bottom line, but who are these banks, Citi and M&T, anyway?

I've had credit with both long before I knew better than to question a company of it's ethics and environmental practices. Long before becoming an advocate of TreeHugger, dailygreen, Wecansolveit, and RAN. Long before I understood the fundamental differences in fossil fuels and alternative energy.

Citi Bank came calling when I was a irresponsible sophomore in college. An application for an adult-size Visa card landed in my lap right next to the application for a SUNY student loan. It was a Eureka! moment; one of those saving graces.

Not even I trusted my teenage-self, sinking ever so slowly into school debt, with an additional $5,000 to toy with, but Citibank did. I didn't abuse my new authority status but I sure made it known to family and friends that I was a bonafide card-carrying adult of the new mature world.

When the interest rate kicked in on my buying habits, my adult bubble burst.

Now, 20 years later, it's not the interest rate that concerns me but the risky business of coal and climate. As I've been reading.. the company makes large-scale investments in coal-fired power plants even though coal is the single biggest cause of global warming. And despite Citi having $2.2 trillion in assets they justify their dirty investments by contributing less than 1% to alternative energy like wind, solar and hydrogen.

Not to mention the egregious amounts of PAC (political action committee) donations that Citi gives to influence both Republicans and Democrats; it all makes my head spin! So, be-gone Citi bank (and possibly M&T if I discover the same), my revolving credit line has done you well but I'm shopping for smarter alternatives.