350 Wenatchee Climate Conversations NCW

You may recall hearing from us earlier this year about two banking regulators working to reign in Wall Street and hold big banks accountable to their role in financing the climate crisis. The time has come for a third major regulator – the Federal Reserve (the Fed) – to follow their lead.

The Fed– America’s central bank and most powerful financial regulator– is responsible for fighting inflation, promoting full employment, and keeping our financial system stable. The Fed also has a legal mandate to respond to emerging threats, like climate change, that could have severe impacts on the stability of our financial system if left unchecked.

Will you send a message to the Fed, urging them to protect our economy from climate change?

While Big Banks continue to talk a big game about how they’re taking climate change seriously, their actions speak louder than their words. Does investing $4.6 trillion in fossil fuels since 2015 sound like taking climate change seriously? Nope.

As communities around the world face escalating climate threats, we need the Fed to follow the lead of other regulators and require big banks to:

1. Stop greenwashing by making sure their internal strategies are actually consistent with their public-facing climate commitments;
2. Prepare for the impacts of climate change at every level of business;
3. Develop a clear understanding of how climate change could harm the financial system; and
4. Plan for what climate change could look like in the long term, and adjust projections as new data comes in.

Sign our petition demanding the Fed release strong climate guidelines for big banks.

Remember: Big Banks’ risky decisions affect us all. In 2008 we saw first-hand what can happen when banks are allowed to make risky decisions to pad their pockets, without adequate oversight.

And now they’re doing it again by making risky investments in fossil fuels for short-term gain without considering the incalculable consequences of climate change.

Together, we can send a strong message to leaders at the Fed that the public is counting on them to protect our communities and economy from climate chaos.In solidarity,
– the Stop the Money Pipeline team

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