John,

This is HUGE. After a year and a half of campaigning, Europe’s most
powerful central bank has finally decided to address the climate crisis!

[1]Image reading: "YOU DID IT! Europe's most powerful central bank is
finally addressing the climate crisis" with a Euro sign and a polluting
factory chimney.

Today, with its new monetary policy, the European Central Bank becomes the
first large central bank to lay the ground to ditch fossil fuel finance!

John, this is a huge win for people power! During months,
thousands of you across Europe have taken action together to make this
happen. You’ve signed petitions, emailed decision makers, called them on
social media, answered surveys, chipped in to empower the campaign, and so
much more… You just never gave up.

If there are many reasons to celebrate this massive progress, we can’t
stop here: the new policy has too many potential loopholes and the
timeline is not ambitious enough.

The bank needs to go further and faster. The disastrous consequences of
the climate crisis can’t be put on hold.

With your help, we’ll prepare for next steps to make sure that:

* The ECB’s new policy will be followed by concrete action.
* All climate wreckers are excluded from its portfolio.
* All central banks will follow the ECB’s lead on climate.
* We’ll keep challenging the banks to go further and faster!

John, yesterday’s announcement is an unprecedented move and a
strong message to all financial actors around the world: the era of fossil
finance is coming to an end.

Let’s keep up the good work, John. [ [link removed] ]Can you
help us with a monthly gift to turn this victory into a climate revolution
in the banking sector?



Thanks for all that you do,
Leyla, Fatah and the Team at SumOfUs


**********
More information:

[ [link removed] ]ECB to flex its financial muscle in climate change fight
Reuteurs. 8 July 2020.
 
[ [link removed] ]ECB Pledges to Inject Climate Considerations Into Its Decisions
Bloomberg. 8 July 2020.
 
[ [link removed] ]EU's COVID recovery spending should be guided by green finance plan:
experts
Euractiv. 8 July 2020.
 
[ [link removed] ]European Central Bank shifts inflation target upwards to 2%
The Guardian. 8 July 2020.

 

 

SumOfUs is a worldwide movement of people like you, working together to hold corporations accountable for their actions and forge a new, sustainable path for our global economy.

Please help keep SumOfUs strong by chipping in $3. [link removed]