Here’s a question, John:
How can we stop big banks from financing fossil fuels and the destruction of our planet? We have the answer:
Here’s what you need to know, John: U.S. banks have funneled $1.2 trillion dollars into fossil fuels in the past five years. These big banks won’t stop funding fossil fuels on their own (they’ve been quite clear about that).
The good news is that the Federal Reserve — the U.S. central bank — has the legal authority to make fossil fuel finance less desirable and possibly set limits on the financing of fossil fuels.
It’s the Fed’s literal job to protect the public interest and economy from systemic risks like climate destruction, but they won’t do it alone. It will take the full weight of the climate movement pushing the Fed to take action and hold banks accountable for funding this crisis.
Thanks for watching and stay tuned for more to come.
Team 350
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PO Box 843004, Boston, MA 02284-3004
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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.