Summer of Heat – wrap up

What a summer that was. In the 87 days between June 10 and September 5, we organized 32 major protests at Citi’s headquarters and executive offices – one every 2.7 days. In all, the NYPD made 700 arrests of climate activists for engaging in nonviolent civil disobedience.

Some of the highlights of the summer include faith leaders being carried out of Citi’s HQ; Gulf South leaders and immigration justice advocates descending on Citi; 750+ climate scientists writing to Citi to demand an end to financing for fossil fuels; orcasand pink cowboy hat-wearing dancers blockading the doors to the headquarters; cello players defying Citi’s attempts at intimidation; and 68 grandparents and eldersgetting arrested in a single day.

But what has the result of all of this been? The truth is it’s too early to tell.

In a piece about the campaign this week, Bloomberg reported that Citibank’s lending to fossil fuel companies has declined significantly in 2024; however, its underwriting of bonds for fossil fuel companies – the other key way that banks raise capital for oil and gas companies – has increased.

But we always knew that this was a long game. The Summer of Heat was about drawing greater attention to Citi’s role in the climate crisis and building the power of our campaign so that we can come back even stronger next year – and on both of those fronts, we were wildly successful.

The campaign was covered by major outlets, such as the New York Times and the Guardian, as well as financial press like American Banker and Bloomberg; and even more importantly, many of the key leaders who made this campaign what it was were brand new to the climate movement. We are in a stronger than ever position to run an even more powerful and effective campaign in the future.

There’s also strong reason to believe that Citibank is feeling the pressure. As one Citi employee told Bloomberg this week, “there’s awareness within the bank that it needs to ensure it doesn’t suffer any reputational damage due to the attention its fossil-fuel business received as a result of the protests.”

That awareness is because of us. And the only thing that Citi can do to ensure it doesn’t suffer that reputational damage is stop financing fossil fuel expansion and vastly increase its financing of renewable energy.

In the months and years ahead, we’ll be doing everything we can to make that happen, as quickly as possible. Indeed, the next phase of the campaign has already begun.

There are two ways for you to get involved in the campaign, right now.

Finally, I want to personally thank all of you who helped make the Summer of Heat everything it was. To all of you who traveled to New York, joined protests, and got arrested; and to all of you who donated financial resources; organized actions and petition deliveries in your communities; and took digital actions online with us – you helped make this campaign what it was. We truly could not have done it without you.And after everything we accomplished this summer, I am more confident that, together, we can end financing for fossil fuels in the year ahead.

In Solidarity,
– Alec Connon, Stop the Money Pipeline coalition director

PS: Want to support campaigns like the one we just had this summer? You can make a donation here.

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