Letter: We’re giving banks until end of 2022 to divest in dirty energy
What does your bank have to do with climate change? The climate change organization ThirdAct.org provides this information: Since the Paris climate accord was signed in 2015, Chase, Citibank, Bank of America and Wells Fargo banks have invested one trillion dollars in dirty fossil fuel projects and companies. Older Americans hold 70% of the wealth in this country and we can stop these banks from lending to the fossil fuel industry polluting our earth, and help shift investments to clean energy.
If you are a customer, and have a checking, savings, and/or credit card with any of these banks, the organization ThirdAct.org is asking you to pledge to close your account and cut up your credit card if by the end of 2022, they are still funding projects and companies that are accelerating the climate crisis.
Note: Check your credit cards carefully — an Amazon card or a United miles card, for instance, are from Chase; the Costco credit card is from Citi, and so on.
If you do not have an account or a credit card at these banks now, you can pledge that you won’t open one in the future.
But don’t move your money or cut up your credit card quite yet. The big banks won’t notice if you quietly move your money on your own.
We are giving Chase, Wells Fargo, Bank of America and Citibank until the end of 2022 to stop investing in dirty projects like mining coal in Australia and India, drilling for oil in the Arctic and the Amazon, and building tar sands and fracked gas pipelines in places like Minnesota and West Virginia.
If the banks don’t stop, we will make good on our pledges together, en masse. Together we can divest from companies that do not take into account the health and future of the environment and the communities they serve.
In the meantime, Third Act will be gathering the best data, resources, and tools to help ensure that they have a comprehensive list of environmentally and socially responsible financial institutions for you to bank with. They will also offer webinars, FAQs, and support on the actual mechanics of switching accounts that will make it easy for you – when the time is right — to stop banking with companies invested in climate chaos.
Follow Third Act on Facebook, Twitter, and Instagram, where you can easily share the “Banking on our Future Pledge”.
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