It seems we can all agree that this must change. Except for Fed Chairman Jerome Powell. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

This is a problem, John:

Federal Reserve Chairman Jerome Powell said last week that climate change is not currently a main consideration for the central bank.¹

It seems we can all agree that this is unacceptable. We surveyed our supporters last week and over 97% of respondents believe that the Federal Reserve has a responsibility to address the climate crisis.

We’re collecting signatures to demand that President Biden not renominate Chairman Powell as the Federal Reserve Chair and replace him with someone who will assess the climate implications of the Fed’s policies and set rules to end fossil fuel finance. Will you add your name now?

Sign Now »

Right now, the Federal Reserve is neglecting to regulate the banks financing oil, gas, and coal expansion projects – actively funding the climate crisis. They’re also using public money to bankroll fossil fuel companies to the tune of billions of dollars. It must stop.

We’re happy to see that our movement is in agreement about the need to take on the Federal Reserve. 85% of our supporters agree that our movement’s success in calling on financial institutions to divest puts us in a strong position to take on the Fed – the biggest financial institution – and win.

Here are some other figures from our survey:

• 94% of respondents believe that the public should have a say in how the Federal Reserve does its job
• 84% of respondents believe that not incentivizing and enforcing a reduction in the financing of climate-destructive activities (i.e. fossil fuel companies, pipelines, etc.) is where the Fed is most-contributing to the climate crisis
• Nearly 80% of respondent believe that the Fed should make it more difficult for banks to lend money for fossil fuel projects
• 60% of respondents believe that it is the Fed’s responsibility to act because the climate crisis is the biggest risk to our economy.

We’re calling on Biden to nominate a climate leader to be the next Federal Reserve Chair in 2022, but in the meantime, we need to put as much pressure on Chairman Powell as possible.

Will you add your name today to our petition demanding that Biden not renominate Chairman Powell as Federal Reserve Chair and instead nominate someone who will stop the flow of money to fossil fuel projects and companies fueling the climate crisis?

Thank you for taking action and stay tuned for more.

Brett Fleishman
Director of Fossil Finance Campaigns
350.org

P.S. If you want to learn more about the Federal Reserve, the climate risks to our economy, and more, check out this article from my colleague, Tracy Lewis titled “Reimagining the Federal Reserve”.

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1 - CNBC