This week, millions of Americans have been living through the effects of climate change. Floods have destroyed much of Yellowstone National Park. Severe storms have battered Chicago, Madison and Milwaukee. Temperature records have been broken in California, Arizona, Nevada, Texas, and South Carolina.
These extreme weather events are a reminder of how important it is that our banks treat the climate crisis like the emergency it is.
In May 2021, the IEA, the world’s most respected energy modeler, announced that to have a fifty percent chance of limiting global warming to 1.5°C, there can be no new oil and gas fields developed.
Yet, within three months of the IEA’s announcement, Citi, Chase, Bank of America, and Wells Fargo helped facilitate $36 billion in financing to the corporations most rapidly opening new oil and gas fields, including Exxon-Mobil, Aramco, and BP.
We as customers have the power to change that. But to change it, we first need to understand just how our banks are trying to pull the wool over our eyes with their greenwashing.
In solidarity,
– Sarah, Customers for Climate Justice
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