John,
Earlier this month, something major happened:
It’s not easy to get one of the largest banks in the world to do anything, let alone demote their board director because of his climate-denial – but we did it. This is huge news, John, but we can’t let up. We need to continue our momentum and keep the pressure on to demand that Chase halt all financing for coal, oil, and gas.
|
Under former Exxon CEO Lee Raymond’s board leadership, Chase has become the world’s number one financer of fossil fuels – dumping over $268 billion into coal, oil, and gas since 2016.
But thanks to our movement, Raymond was recently demoted from his leadership position, and 10 states joined our call to demand that Chase appoint a climate-competent, Lead Independent Director in his place.
Demoting Lee Raymond is a step in the right direction for Chase. As Bill McKibben put it, “This is the man who, more than any other, exemplifies the fossil fuel industry’s decades of climate denial. That he’s retreating under pressure from the climate movement is a moment of real historical significance.”
We’re starting to turn the tide, which means we need to push even harder. In the midst of this unprecedented pandemic, the fossil fuel industry is less profitable than ever. We have a chance to change the course of our economy – but only if we speak out.
Every call to CEO Jamie Dimon’s office shows the political and financial liability if Chase continues with business as usual.
Financial institutions like Chase must stop funding the destruction of our communities and planet. Between 2016-19, 35 international banks including Chase, Wells Fargo, and Citibank collectively poured $2.7 trillion into the fossil fuel industry. This money is funding projects like the Keystone XL and Line 3 pipelines – violating Indigenous sovereignty and worsening COVID-19 in Native communities.
We won’t let up until every bank cuts ties with fossil fuels.
Thanks for taking the time.
Emily and the 350.org team
350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.
Keep 350.org strong by chipping in right now:
You can unsubscribe from this mailing list at any time.