From great deals to their motto, “do the right thing,” there’s a lot to love about Costco… but we hate that their Citi branded credit card is currently funding fossil fuel projects that threaten to push our planet to the brink. It’s time for Costco to clean up on aisle Citi!
Costco has taken steps to shrink its carbon footprint and positioned itself as a climate leader in the retail space. On the other hand, Costco’s credit card partner Citi is the second biggest funder in the world of dirty fossil fuels, and is dumping more than $330 billion in financing to fossil fuels that are heating up our planet and endangering our communities.
And if Costco were to account for the pollution resulting from these banking relationships, it would account for more than one-third of its overall operational greenhouse gas emissions – that’s the equivalent of 1.7 billion pounds of coal burned, or 3.8 gas-fired power plants operating for one year. Something doesn’t add up here.
We all deserve a future worth living, free from climate chaos and the pollution caused by dirty fossil fuels and the banks financing them. As one of Citi’s largest credit card clients, Costco could help us begin to change that equation – by pushing Citi to stop financing fossil fuels or lose an important client. And it all starts with us.
In solidarity,
– Austin Miller, Stop the Money Pipeline team
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