It's time to stop Banking on Climate Chaos

The latest Banking On Climate Chaos report is out and it tells a devastating, and familiar, story: Fossil banks are killing the planet.

Fossil fuel financing from the world’s 60 largest banks has reached nearly $5.5 trillion since the Paris Agreement was signed. Last year alone, fossil banks invested $673 billion in extraction, pollution, and climate chaos. 

When it comes to climate action, it's not about talk, it's about cash.

This year's report shows exactly how much money each big bank is investing in climate chaos, and where it all goes. It also highlights frontline stories of people leading the fight to stop fossil fuel projects around the world - from the Gulf South, to Asia, to Africa, and everywhere. 

Even after clear messages from the scientists at the International Energy Agency and in this year's united Nation's #ClimateReport that we can't afford any new fossil fuels, banks continue to finance fossil fuel expansion to the tune of $150 billion in 2022 alone.

Check out the full report and data at https://www.bankingonclimatechaos.org/ and sign below to tell these banks and investors: Quit banking on climate chaos!

The Petition reads:
On March 20, 2023, the world’s top scientists from the IPCC told us unequivocally that we have to cut fossil fuel use in half by 2030 to have any chance of meeting the Paris Agreement's 1.5°C targets. 

Given this urgency, it is unacceptable that U.S. banks — including Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and  Wells Fargo — continue to invest in fossil fuel expansion, extraction, and the ensuing climate emergency.

We demand that you change your ways by: 

1. Prohibit all finance for fossil fuel expansion immediately;
2. Adopt absolute financed emissions reduction targets;
3. Demand robust transition plans from all existing fossil fuel clients;
4. Establish zero-tolerance policies and due diligence mechanisms to protect Indigenous peoples’ and human rights;
5. Scale up financing for a just & fair transition.

All of your banks are pledged to meet the goals of the Paris Climate Agreement, and align your investments with a goal of keeping global warming at 1.5°-2°C.

Judged against this benchmark, your pledges and actions to date are clearly inadequate. We are now in the decisive decade for climate action, and your words and pledges are not enough. We need action, investment, and DIVESTMENT NOW.