JPMorgan Chase, the largest bank in the United States, has announced an updated energy policy that rules out financing for new oil and gas drilling in the Arctic, including the Arctic National Wildlife Refuge. The policy also rules out financing for new thermal coal mines and coal-fired power projects worldwide, though the bank failed to put any restrictions on other oil and gas, including fracking and controversial tar sands projects.
This morning, Lloyds Bank, one of the largest banks in the UK, released an updated energy policy that rules out financing for oil and gas operations in Arctic National Wildlife Refuge.
Stop the Money Pipeline, a coalition of dozens of groups dedicated to ending the financing of climate destruction, is announcing a major Day of Action for this April 23, 2020, as part of three days of youth-led Climate Strikes around the 50th Anniversary of Earth Day.
Today, BlackRock, the world’s largest asset manager, announced that one of its fastest-growing sustainable funds will stop investing in tar sands, one of the dirtiest fuel sources on the planet.
Today, after more than a year of increasing pressure from climate activists, investors, legislators, and thought leaders, BlackRock CEO Larry Fink, in his highly anticipated annual letter, announced a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model.
Over twenty people occupied a Chase Bank branch in Washington, D.C. today to kick off Stop the Money Pipeline, a major new activist effort going after the financial industry’s funding of climate destruction.
A coalition of some of the nation’s leading climate, youth, and Indigenous organizations will launch a major new mobilization on Friday, Stop the Money Pipeline, that will pressure banks, insurance companies and asset managers to stop financing fossil fuels and deforestation and start respecting human rights and Indigenous sovereignty.
Today, BlackRock announced that it will be joining Climate Action 100+. In response to the decision, members of the BlackRock’s Big Problem network issued the following statements:
Virginians rallied at bank branches across the state yesterday to call on major banks to pull their support for the fossil fuel industry.
Virginians will rally at bank branches across the state tomorrow to call on major banks to pull their support for dirty fossil fuels.
According to disclosures submitted to the non-profit CDP and reported yesterday by Bloomberg, Wells Fargo sees the climate crisis as an opportunity to make more money.
Today, BlackRock CEO Larry Fink published his annual letter to CEOs. In this year’s letter, he describes an “increasingly fragile” global landscape and a need for corporations to be leaders and “address pressing social and economic issues.” Fink failed to mention climate change at all in the letter, despite the urgent need to take action on this issue.