Once again, America's biggest banks have ramped up their financing of fossil fuel companies worldwide, fueling oil and gas expansion and making the shift to clean energy even harder.

It doesn't have to be this way.

Public pension funds are among the banks' most influential investors, and have the power to push for stronger climate commitments. While they serve public sector workers, they are funded by taxpayers, meaning that all of us can help influence how public pensions vote!

Tell public pensions in your state: Hold banks and corporate polluters accountable!

Dear Friend,

Earlier this summer, the latest Banking on Climate Chaos report came out with some troubling findings: US banks are rolling back their climate commitments and are increasing their financing of fossil fuel companies.

Four of the biggest US banks -- Citigroup, JPMorgan, Bank of America, and Citibank -- each increased their fossil fuel financing by more than $10 billion last year.

There is no time to waste. This is a critical opportunity to reduce carbon emissions before runaway climate chaos becomes impossible to stop. Banks must stop funding fossil polluters -- and their shareholders must hold them accountable to making this shift.

Tell your state's pension offices to hold banks accountable to strong climate commitments.

Investors can be a powerful voice for climate action. Every year, company shareholders have the opportunity to elect companies' Boards of Directors, who make decisions on company strategy, and vote on resolutions pushing companies to act on climate and respect workers' rights. These annual meetings are important opportunities to hold some of the world's biggest banks accountable and push for responsible business practices.

Despite our ongoing activism, it's been a tough year for corporate accountability. US banks have been walking back their climate goals and doubling down on fossil fuel financing. And they're not alone: major corporations have been weakening net-zero targets, scaling back emissions disclosures, and reducing investments in clean energy. It's more important than ever that investors insist on setting and maintaining strong climate commitments.

We need your support to push public pensions, which are some of the largest investors, to lead.

Pushing public pensions to take action works. How they vote in companies' annual elections can meaningfully impact corporate behavior. Despite recent challenges, together we pushed public pensions to support climate resolutions at companies like Amazon, Duke Energy, and JP Morgan Chase this year, and we'll keep organizing to strengthen climate votes every year.

Tackling the climate crisis isn't only the right thing to do -- it's essential for anyone saving for the future. The same storms, floods, and heatwaves that threaten our communities also undermine the economy. Pension managers must act to protect our hard-earned savings.

We need state pension funds to step up and hold corporate polluters accountable. By speaking up, you can encourage your state pension to support choices that protect our economy, our planet, and our savings.

Tell your state's pension fund to vote for a better future!

In solidarity,

Allie Lindstrom (she/her)
Senior Campaign Strategist
Sustainable Finance

P.S. To stay updated on how you can advocate for a sustainable financial future, text SIERRA to 69866 to receive timely mobile alerts!

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