Dirty, Dishonest Dominion can’t duck divestment online

Dirty, dishonest, Dominion Energy – the principal company backing the Atlantic Coast Pipeline – is holding their annual shareholders meeting (AGM) online tomorrow, May 6. They hope that because the meeting is online this year, due to the pandemic, that we’ll stay home and not pressure them to stop investing in fossil fuels, especially the Atlantic Coast Pipeline, like we have in the past

Dominion’s wrong – and we’re showing up online tomorrow right before the shareholder meeting to give them a piece of our mind. Can you join us?

Here’s what’s going on: Last year, Dominion held their shareholders meeting in my hometown of Columbia South Carolina. We worked with a team of activists from SC, NC, VA and beyond to show up and hold a protest outside the meeting while a crew of activist shareholders went inside to lobby Dominion to divest from fossil fuels and especially the Atlantic Coast Pipeline (ACP).

In the year since, things have not gone well for Dominion and the ACP. The pipeline has been mired in court over legal objections to their plan to cross the Appalachian Trail on US Forest Service Land. That court case landed at the US Supreme Court in late February, and we were there as part of a street protest and Non violent civil disobedience action lead by North Carolinian’s impacted by the project.

While the pipeline has been stopped (for now) by the courts, the costs haven’t stopped going up. In fact, a new report out today from our friends at NC Warn and Friends of the Earth found that sticking with the ACP will increase energy costs $30 billion across VA, NC and other impacted states.

But while the news is mostly-bad for the pipeline, it has been mostly good for Virginians who want to invest in clean power. In March, Virginia passed the Virginia Clean Economy Act, which mandates that the state’s utilities, including Dominion, switch to pollution-free energy by 2045.

That one decision basically makes the ACP un-viable. But the pandemic, combined with a major drop in oil and gas prices have pushed fracking and pipeline companies to the brink of bankruptcy and dramatically slashed demand for gas pipelines and power plants. While Trump and co are angling to bail out big oil and gas producers, it would take months or years for that money to trickle down to utilities like Dominion.

Faced with all these headwinds, you’d think that Dominion would drop its support for the Atlantic Coast Pipeline. But instead, they’ve been doubling down on their support – taking on more investment in the pipeline and lobbying to get around the Virginia law and scuttle clean energy requirements in North Carolina and South Carolina.

So, tomorrow, before their shareholders meeting, we’ll gather online and make some noise telling Dominion and their shareholders that it’s time to divest from fossil fuels and the Atlantic Coast Pipeline. Join us tomorrow (May 6) at 8:30 am before the shareholders’ meeting on zoom to take action. Together we’ll post on social media, call executives and take online action! We’ll hear reports and briefings from experts and shareholder advocates and give you all the info and talking points you need.

PS we’ll also be meeting at 11am on Thursday May 7 before the Duke Energy Shareholders meeting. Join us for that one too!

Fossil Fuel Divestment Day #F2D2

2020 is shaping up to be the year of Divestment, and today is a great day to join in the fun! Right now, students at more than 50 college and university campuses are taking action today for Fossil Fuel Divestment Day and online using the hashtags hashtags #fossilfueldivestmentday & #F2D2. They’re taking a stand and fighting for climate justice by calling on their universities to divest — or withdraw their assets — from fossil fuel corporations. (You can read their op-ed announcing the action in TeenVogue here)

If you’re a student, faculty or administrator at a college or university, we hope you’ll get out and join the #F2D2 actions today. But for everyone else (and everyone in general) there’s another divestment campaign you can support as well – Divestment of our local, state, and federal employees’ pension funds. Click here to write to your local elected officials and demand they divest our public pensions in honor of Fossil Fuel Divestment Day!

Every single one of us is subsidizing the fossil fuel industry with our tax dollars, and we don’t even know it! That’s because nearly all public pension funds in the U.S. are invested in fossil fuel companies. That’s the retirement savings of every public school teacher, every local fire fighter, and all of our Mayors, County clerks, and other hard-working state and local officials being used to prop up the profiteers of climate chaos.

In many cases, the same first responders on the front lines of responding to climate chaos have their retirement funds invested in fossil fuel companies causing the problem.

To make matters worse, state pension funds’ investments in fossil fuels actually place our those workers’ retirement at risk. Fossil Fuel companies are already underperforming compared to the rest of the market. And when the “carbon bubble” bursts, it could cause losses greater than the 2008 financial crisis, according to a recent study.

The Big California pension funds CalSTRS and CalPERS, which represent nearly three million retired teachers, firefighters, police officers, and other public employees, lost more than $17 billion already, costing an average teacher or firefighter $5,572 – $6,072.

That’s probably why “Mad Money” creator Jim Cramer (no friend of the climate movement) recently said, “I’m done with fossil fuels. They’re done.”

One essential step in solving the climate crisis is to move our collective money – bank accounts, retirement funds, insurance coverage all of it – away from the fossil fuel companies that are causing the climate crisis, and instead invest in a just transition to a low-carbon economy based on renewable energy and green jobs. State Treasurers, Governors, and local elected officials have the power to divest these massive state and local pension funds. But they wont act unless we speak out together, and in support of bold youth-led movements like today’s.

It’s time to demand that our elected officials act to freeze all investments in fossil fuel companies and divest public funds from all direct and indirect investments in fossil fuels.

Sign and send a letter to your governor and state legislators urging them to divest pension funds from fossil fuel industries. It is time to stop supporting climate chaos with our retirement money!

Dirty, Dishonest, Dominion Energy #DIVEST!

We had a busy 2 days of action targeting dirty, dishonest, Dominion Energy at their shareholder meeting in Columbia SC this week.

Check out the reportback video on all our actions, or scroll down to read an account of the more than 5 hours of meetings, speeches and actions. Once you see all the stuff we did, I hope you’ll be inspired to chip in $1.98 or more to support us. We’re still about $500 short of our goal for covering costs of all these events.

Here’s a quick budget for your information :

ItemCost
Food for Community supper$100
Bus Transit for Justice First$1000
Flyers, signs and materials$250
previously raised-$143
Donations from other partner groups-$500
TOTAL left to raise:$707

Monday Night – Community forum and supper

Monday night about 50 of us gathered at the historic Zion baptist Church in Columbia (where Dr King once spoke) for a community supper and teach in. We had reports and stories from all over Virginia, South Carolin, North Carolina and beyond about Dominion’s dirty, dishonest past, as well as a briefing on our plans for the shareholder meeting.

Here’s some video clips of the speakers from that night

Mary Cerulli from Mothers Out Front talked about our global power as a movement working with more than $2 trillion in assets to #Divest from fossil fuels and pipelines.

Greg Yost from NC APPPL talked about the fight against the Atlantic Coast Pipeline and how the Carolinas (North and South) are connecting to stop this fracked gas pipeline.

Freeda Cathcart, Indivisible VA talked about the importance of coalitions and working together to make change:

And Finally, Rev Leo Woodberry, from the Justice First tour and New Alpha community development corporation brought it all together in a keynote address that had everyone on their feet marching in one big wave of solidarity by the end.

At the end of Rev Woodberry’s keynote, we had a community supper downstairs, where we heard some more about Justice First’s recent trip to Africa helping communities in Liberia and Sierra Leone set up solar power, and from Chief Pete of the Pee Dee Tribe who talked about struggles with environmental justice during and after the flooding from Hurricane Florence, as well as their concerns about the Atlantic Coast pipeline and harvesting of souther forests for biofuel.

Tuesday – the main event!

On Tuesday we gathered outside the Shareholder meeting and 8 shareholders were admitted in with proxies to address the meeting. The rest of us handed out about fliers And held banners outside so everyone knew our demands. At the end of the Shareholder meeting we held a press conference touching on Dominion activity inside and outside the shareholder meeting.

Taking the fight to #fossilbanks

Get Excited — It’s shareholder meeting (AGM to our friends in Europe) season; And this year we’re taking the fight to some of the biggest #FossilBanks and investors on the planet.

You may remember a few weeks ago when a coalition of friends (including 198 methods) released a big report showing that global banks have invested $1.9 trillion in fossil fuels. Now, those same banks, and the pipeline companies they finance are holding annual shareholder meetings and we’re ramping up the pressure to demand they #Divest from fossil fuels and climate chaos as part of a Green New Deal.

The first events start this week in Seattle and Charlotte (amongst other places) check it out and sign up to join and event near you.

OR – if you can’t make it to an event or there isn’t one planned near you right now – click here to chip in $1.98 or more to help us challenge these banks and corporate frackers in front of their shareholders with daring and creative protests.

These protests are part of a big, international, coalition that’s working to make the climate crisis a real, immediate concern for big banks and investors. Because to stop a further climate chaos, we urgently need to bring the fossil fuel era to an end. But only massive public pressure will make banks divest from pipelines, fracking wells and other climate-wrecking industries. So we need your help and participation to build that pressure on the Fossil Banks.

So what’s our plan? We’ll be all over this spring protesting at shareholder meetings. Check out some of the upcoming events or visit our Facebook page to see and RSVP:

  • April 10 – Charlotte NC and all over the Country protesting at Chase and Wells Fargo branches, in particular.
  • April 24 – Bank of America Shareholder meeting in Charlotte NC; and
  • May 7 – Dominion Shareholder Meeting Columbia SC

Lots more events are being planned – so stay tuned and drop us a line on Facebook, on Twitter, or right here on the good old fashioned website if you have an AGM/Shareholder meeting you want help planning!

Image courtesy of Fund Our Future

Fossil Banks invest $1.9 trillion in climate change

It’ll come as no surprise to regular 198 methods readers and activists that since the Paris climate agreement was signed in late 2015, global banks have invested $1.9 trillion in fossil fuels. About half of it going to companies like Energy Transfer Partners, Transcanada, and others investing in a massive expansion of fossil fuel projects at exactly the moment climate scientists tell us we have 12 years to radically reduce emissions.

It’s all in the new report Banking on Climate Change: Fossil Fuel Finance Report Card 2019 by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Sierra Club, Oil Change International and Honor the Earth, and endorsed by more than 160 organizations ― including us!

Can you help us fight back? Click here to host or attend one of dozens of protests at local bank branches on April 10 and call out banks dirty investment in climate chaos.

In 2015, J.P. Morgan Chase CEO Jamie Dimon supported the Paris Climate agreement and pledged and investment strategy “consistent with a pathway toward low greenhouse gas emissions.” But the report shows he’s been anything but consistent. In fact, Chase is the number one bank investing in fossil fuels with $196 billion invested in coal, Arctic oil and gas, fracking, tar sands, and other fossil fuels ― in the last 3 years alone!

Lots of European banks like BNP Paribas and ING Bank have taken steps to limit their funding of new fossil fuel projects. But US Banks are continuing to spend $1.9 Trillion on new fossil fuel projects ― and what’s worse, their investment in climate chaos is actually increasing.  

But if we act together, we can make a difference. The Dakota Access pipeline got $2.5 billion of its $3.8 billion in total funding from banks like Chase and Wells Fargo. Without those loans, they simply wouldn’t have enough money to build new pipelines, coal terminals or fracked gas facilities.

So thousands of us joined forces to move our money, demand better banking and #DefundDAPL. Now, I need your help to take action again. Here’s how:

  1. Check out the report and share it with your friends online.
  2. You can share it on Facebook, on Twitter, or email this page to your friends.
  3. Join us as we take action across the country to deliver the message loud and clear that funding climate disaster will not be tolerated.
US Banks are the worlds biggest funders of Dirty Fossil Fuels