Banking on Climate Change
This Fossil Fuel Finance report 2020 by the Rainforest Action Network (RAN) shows that most world-wide banks are increasing their investments in the fossil fuel industry and ignoring the climate change consequences for all life on earth. Scary Reading! and the #1 worst bank is JP Morgan Chase. If you still bank with them move your money AS SOON as you can and let them know why! And tell your friends!
BlackRock Divestment?
BlackRock – World’s largest asset management group $7T – recent focus of indigenous and other protests in SF – headquarters. Trying to move the company to environmentally responsible decisions – no changes yet. BlackRock link has a Financial Times piece.
Link to recording of the People’s Assembly on Blackrock. In January, BlackRock claimed it would put climate and sustainability at the center of its investment strategy. But the assembly learned that so far the promise has looked like a lot of hot air. The assembly we encouraged everyone to send Larry Fink and BlackRock a message today: until your company takes action, your talk is hot air.
Send your message via a postcard here.
GOOD NEWS 5/21/20
After five years of perseverance by students and faculty the University of California announced Tuesday it has divested from all fossil fuels, removing them from its $126-billion investment portfolio. With 285,000 students, UC becomes the largest educational system in the nation to shed such assets in favor of renewable energy such as solar and wind power. Details
Added 11/19/19 Huge Divestment by EIB European Investment Bank
Already the biggest financier of extreme fossil fuels on Wall Street, last year CHASE increased it’s fossil fuel investment by over $4 Billion. Wells Fargo, the #2 funder of fossil fuels is the #1 funder of FRACKING
Take your money out of BIG BANKS – especially CHASE and WELLS FARGO
Successful Divest the globe action at Wells Fargo Santa Cruz included leaflets to customers, a giant banner, a sidewalk “die-in” , letters presented to the bank
manager and a great group tableau on the marquee.
Details on international bank investments – Report Card Summary
Link to letter for Wells Fargo manager
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Inspiring Previous events in Seattle
wrap-up videos from the action where we shut down 13 banks simultaneously,
the action where we shut down 2nd Ave outside Chase’s PNW HQ,
the action where we put a 50-foot pipeline through their PNW HQ,
and an action where we dropped a large banner from a Seattle highway.
Bay Area action against Wells Fargo 3/18/19
1/28/19 Interesting short video from a group working with industries to make big changes in emissions and water usage.
Jan 2019 Website for Santa Cruz Public Banking Group.
Oct 2018 New Journal on Green Investing etc.
Oct 2018 A Santa Cruz group is working on local Public Bank – see new website
Aug 2018 Interesting article about the increasing popularity of public banks
Aug 2018 Local finance company specializing in environmentally sound projects In3finance.com
July 2018 Interesting Article on possible public bank in San Francisco
June 2018 Local Flier on Good/Bad Banks Divest
May 2018 – Chase Bank Campaign
Of all the Big Banks CHASE is the WORST
Already the biggest financier of extreme fossil fuels on Wall Street, last year CHASE increased it’s fossil fuel investment by over $4 Billion
Did you know all major banks have investments in oil and pipeline projects? more at http://www.defunddapl.org/
Check below and MOVE your money out. Move it to a responsible local bank. Divest or close accounts at Bank of America ,Wells Fargo, Chase, Citibank, USBANK, Comerica, TD Securities
Open at a good local bank Bay Federal , Lighthouse Bank, Santa Cruz Community Credit Union, Santa Cruz County Bank, Bank of the West
Below photos from our May 7 , 2018 event in Santa Cruz
2017 Oct 23 Masaska Campaign
Great group met at Wells Fargo and later covered Chase and Bank of America. We delivered letters to the managers and passed out lots of flyers to customers with info on moving their money to banks which don’t support the fossil fuel industry,
11/1 great news – The Equator Banks publicly confirmed that they will “start a process of updating the Equator Principles” with a special focus on the “important implications of the Paris Agreement” and “application of Free, Prior and Informed Consent (FPIC) in different jurisdictions”. read more at http://divestinvest.org
Support Public Banking
Recent studies show Public banks are Safer, less corrupt, more efficient and profitable for local governments and economies, less vulnerable to banking crises
Public Banking News Jan 2018
Both Michigan and New Jersey have submitted bills proposing a state bank. Read about it!
Read “Why I Support Public Banking” by Steve Pleich atwww.pdclub.org/blog:pdclub/article/id/3910196
Articles posted Nov 9
The Public Bank Option – Safer, Local and Half the Cost
Ellen Brown’s opinion re the future of public banking and the election of Phil Murphy in New Jersey (Posted on November 4, 2017 by Ellen Brown)
https://ellenbrown.com/2017/11/04/the-public-bank-option-safer-local-and-half-the-cost/
CA Treasurer Chiang recommends feasibility study on a CA Public Bank to address cannabis banking posted by PUBLIC BANKING INSTITUTE – Nov 07, 2017
Presentation and powerpoint on local movement
Links with more details PublicBankingInstitute.org EllenBrown.com
DIVEST your Savings
Oil stocks are already dropping and may fall drastically in a “Carbon Bubble”. Invest to encourage positive changes, social and/or environmental.
Divestment campaigns helped to bring down South African Apartheid and influenced the Big Tobacco settlement. Now is the time to act to save the climate. Together we can influence the future
Resources
- http://divestinvest.org
- http://fossilfreefunds.org
- https://www.banktrack.org/ – new group overseeing banks
- http://www.firstaffirmative.com/ – advisors specializing in Sustainable options
- In3finance.com Local finance company specializing in environmentally sound projects
