In January, Citi said they would cut ties with fossil fuel clients that don’t have a transition plan as a “matter of last resort.” They said that they’d try to work with these companies on plans to transition off of fossil fuels, and if that didn’t work, they’d consider stopping their funding.
Now, it’s six months later and – surprise, surprise – a new report shows big oil, gas, and coal companies don’t have a plan to get off fossil fuels, and instead plan on expanding fossil fuel production.
It’s time for Citi to keep its promises. Major oil, gas, and coal companies have no plans to stop polluting our planet. Citi must stop supporting them today.
It’s really not complicated – no major US or European oil and gas company has a plan that comes anywhere close to the bare minimum for alignment with the Paris Agreement.
Citi knows this, and yet they keep providing funding to the worst fossil fuel expanders. Citi has provided over $15 billion in funding to ExxonMobil alone since the Paris Agreement was signed.
We can’t allow Citi to continue to make climate promises without following through with climate action.
Sent via ActionNetwork.org. To update your email address, change your name or address, or to stop receiving emails from Stop The Money Pipeline, please click here.
This website uses cookies to provide and improve its services. By continuing to use this website, you consent to our use of cookies. If you do not consent, please view our Cookie Policy for more information.Dismiss