“The fight to force financiers and insurers to abandon fossil fuels may soon get some powerful new recruits: the New York City Council.” (HuffPost, 4/18/20)
Add your name to demand that NYC banks, asset managers, insurance companies divest from fossil fuels and stop funding climate destruction → [[link removed]]
Dear John,
Today is the 50th anniversary of the first Earth Day. Five decades since activists first started sounding the alarm bell that we had better rein in our wanton exploitation of natural resources if we care about our planet and its future.
The global pandemic has shown us how fragile and interconnected we are, and how urgent it is to prepare for crises together, before it’s too late. As we work together tirelessly to combat the COVID crisis, we must also accelerate our work to confront the climate crisis.
So today, I’m introducing a resolution formally demanding that the banks, asset managers and insurance companies with which New York City does business completely divest from the fossil fuel industry. Can you add your name to demand that NYC financial institutions stop funding climate destruction? [[link removed]]
As climate activist Bill McKibben put it, “money is the oxygen on which the fire of global warming burns.” If we’re going to have any chance at actually bending the curve on CO2 emissions, we have to confront the capital that is driving it at its scale.
Big banks, insurance companies, asset managers and institutional investors prop up the fossil fuel industry to the tune of trillions of dollars. JP Morgan Chase is the world’s top banker of fossil fuels, providing $268 BILLION for oil and gas projects since 2015. And investments from asset managers like BlackRock and big insurers like Liberty Mutual pump money into destructive extraction projects like the Keystone XL and Williams pipelines.
These three companies are the top targets of the “Stop the Money Pipeline” [[link removed]] campaign, which our resolution supports. To announce it on Monday, we were joined by Bill McKibben, youth activists from Sunrise and Cafeteria Culture, Friends of the Earth and NRDC, New York Communities for Change, and several of the dozen other Council Members sponsoring the resolution.
As the home of Wall Street, NYC is at the center of the financial industry that fuels the climate crisis. As the home for so many vulnerable communities, we’re at the center of the catastrophic risk that crisis threatens. As NYC Comptroller, I will make the climate crisis the number one issue focus of the office.
But this is something that can’t wait until the next election. The clock is ticking. Join the campaign to send a message to the financial industry: fossil fuels are a bad investment. Add your name to our call on banks, asset managers and insurers, to stop lending to, investing in and insuring the fossil fuel industry → [[link removed]]
The coronavirus crisis calls us to do all we can to mitigate the coming climate crisis, and to see clearly the deep inequality of its environmental, economic, and health impacts. If you are looking for more ways to observe Earth Day, check out this Earth Day Live-stream [[link removed]] or take part in the virtual #EarthWeekNYC Climate Strike [[link removed]] .
-- Brad
P.S. Speaking of the race for NYC Comptroller -- because of COVID-19, we’ve had to cancel all our house parties this spring, so we’re facing a shortfall of more than $30,000. We need your help to elect a climate champion as Comptroller. Can you chip in $25 or any amount to our campaign today? Your donation will be matched 8-to-1 by public financing. Thank you! [[link removed]]
Lander for NYC
456 Fifth Avenue, 3rd Floor, Suite 2
Brooklyn, NY 11215
[email protected]
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