Friday evening Chase demoted former Exxon CEO Lee Raymond from his leadership role on their board.

It’s a big win, powered by the tens of thousands of people like you who not only called Chase, but also called its largest shareholders, BlackRock, Vanguard, and State Street, to vote against Lee Raymond at the bank’s upcoming annual general meeting.

Demoting a climate denier is a big deal — but it’s also not enough. Lee Raymond is still on their board and JP Morgan Chase remains the world’s number one banker of fossil fuels, having dumped over $268 billion into coal, oil and gas since 2016.

Financial institutions like Chase bank need to stop funding the destruction of the planet and communities. Until they do, we need to let them know that there will be consequences. Can you join us in pledging never to bank with the institutions driving the climate crisis?

We are inheriting a planetary and financial crisis created by wreckless corporate greed, deforestation and the fossil fuel industry. Banks are enabling the climate emergency, funding and insuring the fossil fuel industry and helping to make the destruction of our forests and climate profitable.

Banks have massively increased their financing for coal, oil and gas since the Paris Agreement was adopted in 2015. Between 2016-2019, 35 international banks including Chase, Wells Fargo & Citibank collectively poured $2.7 trillion into the fossil fuel industry.

Demoting Lee Raymond is a step in the right direction for Chase. As Bill McKibben put it, “This is the man who, more than any other, exemplifies the fossil fuel industry’s decades of climate denial. That he’s retreating under pressure from the climate movement is a moment of real historical significance.”

That means now is the moment to push harder. We’re starting to turn the tide, and in the midst of this unprecedented crisis the fossil fuel industry is less profitable than ever. We have a chance to change the course of our economy — but only if we speak out.

Take action now: If millions of us use our voices — and our dollars — we can make the institutions funding the climate crisis think twice. Please join us in pledging never to do business with the financial institutions profiting from climate chaos.

You can open an account with a bank that doesn’t put profit over people and planet. There are many easy-to-access alternatives, such as local banks and credit unions, that keep your money both in your community and aligned with your values. If you need resources to help you move your money, we’ve made them available here.

Thanks for all you do — and let’s keep the pressure on,
Stop the Money Pipeline

P.S. Looking to learn more about the links between the financial industry and the climate crisis? RSVP for our Climate Finance 101 webinar this Thursday, May 7th, at 6pm ET / 3pm PT.

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