March 23, 2023

The fossil banks movement is going mainstream

Climate activists in over 100 cities across the US held boisterous rallies in front of banks this week to demand that top US lenders stop financing the expansion of the fossil fuel sector. Led by Third Act, a new climate advocacy group for Americans aged 60 and older, protesters sang songs and cut up their credit cards to send a message to big banks that it’s time to, in their words, “stop funding fossil fuels.”

The actions were covered extensively in global and US media:

 

Since 2016, the world’s largest banks have invested a combined $4.6 trillion in the fossil fuel sector, which has allowed coal, oil, and gas companies to build new fossil fuel infrastructure, according to an analysis titled Banking on Climate Chaos, prepared by Rainforest Action Network, Oil Change International, and other groups. These investments threaten the rapid transition away from fossil fuels that the Intergovernmental Panel on Climate Change says is necessary for a livable future. At the nationwide protests, customers of the largest US banks threatened to take their business elsewhere if the lenders continue to invest in fossil fuels.

Check out some of the incredible photos below: