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

We’ve gone big, now it’s time to bring the message home:

Thanks again for being one of the now more than 100,000 people worldwide (!) who have signed on to demand that the Equator banks stop funding climate disasters and respect indigenous rights. Now, it’s time to deliver:

Can you RSVP to host or attend a delivery event with us next week as our big, indigenous-led coalition delivers our message to banks all over the world? Click here to get started.

TD bank protest

Next week (October 23-25) there will be actions at local bank branches in various places in the world, and we want to show the strength of our numbers. Activists will be showing up at local bank branches, representing the greater audience holding banks accountable, and asking whether companies like Wells Fargo, JP Morgan Chase and others will follow BNP Paribas’ lead and #DivestTheGlobe.

Dozens of events are already planned that you can attend or participate in. Or, if you don’t see one near you, sign up to host: Our partners at Mazaska talks have made everything easy for you with simple downloadable materials and toolkits, and online event tools. All you have to do is grab a couple of friends, head to the nearest branch of one of our 90+ target banks and deliver a letter. Or, get as creative as you like – plan a rallyshut down 100 banks in a single daymeet with a local Mayor or elected official to talk about divestment — It’s up to you!

Get started now by clicking here to find or and plan your local #DivestTheGlobe event.

See you in the streets,

Drew and the 198 methods to stop a pipeline crew.

PS – It’s not too late to invite friends to sign the petition! Share this link before Monday to make sure everyone’s comment is included in the delivery events: https://petitions.signforgood.com/EquatorBanksAct/?code=198m