350 Wenatchee Climate Conversations NCW

JP Morgan Chase and Wells Fargo – among the top banks financing fossil fuels in the U.S. – are making climate commitments one day, and sponsoring a climate change-denying organization aligned with the Koch brothers the next.

Tell Chase and Wells Fargo to stop funding climate denial! Send an email here.

Earlier this month, the New York Times reported on a new organization that has formed to stop any financial institutions from making climate commitments and to freeze any regulation of fossil fuel finance.

They’re called the State Financial Officers Foundation (SFOF) and they share many ties with the American Legislative Exchange Council (ALEC), a conservative group with longstanding ties to the Koch brothers. This group has basically bullied financial institutions to promise that they won’t walk away from fossil fuels.

This is dangerous.

This new flavor of climate denial comes after major U.S. banks have announced interim climate goals for 2030. Those goals are weak to begin with. We already have a hard time pushing banks to commit to stop financing the companies that are expanding fossil fuel operations. The last thing we need is the Koch Brothers’ dark money propaganda machine muddying the waters and throwing science and our futures out the window.

Tell Chase and Wells Fargo to drop their sponsorship of the climate denying SFOF NOW.

With the coming midterms, it’s entirely possible that this fossil fuel industry-funded campaign helps slow the momentum toward fossil fuel finance regulation at major financial institutions. Because despite their big promises, it’s safe to assume those institutions don’t want to be regulated.

So far, JP Morgan Chase and Wells Fargo are the only major banks that we know of that are funding this new climate denying cabal of state treasurers who would rather condemn the residents of their states to a worsening crisis than admit climate change is even real.

Since the New York Times story ran, one sponsor has already insisted on having its name removed from the SFOF website. We expect others will follow soon. Why are Chase and Wells Fargo aligning themselves with this science-denying organization if they care so much about the climate? They can’t have it both ways.

Tell Chase and Wells Fargo to follow drop their sponsorship of the climate denying SFOF NOW!

In solidarity,
– Jackie Fielder, Stop the Money Pipeline team

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