We've completed step one, John.
Our movement successfully pressured President Biden to nominate the most diverse and well-qualified slate of candidates to the Federal Reserve who will take climate risk seriously.1
Now comes step two: It’s our job to make sure that, once confirmed, our nominees and the rest of the Federal Reserve get to work right away to drastically reshape our economy and cut off the flow of funds from big banks to fossil fuels.
Right now, there’s a bill in the House and the Senate that would require the Federal Reserve to ban the financing of any fossil fuel projects or activities: the Fossil Free Finance Act.
John, we’re setting out to drastically expand the number of sponsors on the bill before Earth Day (this Friday, April 22). Will you call Rep. Brendan Boyle and Sens. Bob Casey and Pat Toomey and ask them to sign on to the Fossil Free Finance Act? We’ve included a sample message of what you can say below!
→ Sample Script ←
“Hi, my name is John and I am your constituent from Philadelphia.
In the last 5 years, the world’s 60 biggest banks have financed fossil fuels to the tune of $3.8 trillion. Under the Fossil Free Finance Act, big banks would be required to align their financing with science-based emission targets and our obligations under the Paris Climate Agreement.
U.S. banks are the top fossil fuel funders of climate chaos and the Fed can step in and steer us off fossil fuels fast. The Fed has a responsibility to protect our economy, including protecting our communities from climate catastrophe.
Every representative who claims to be a champion for climate action must sign on to this bill.
As your constituent, I'm urging you to join your colleagues and co-sponsor the Fossil Free Finance Act."
While we continue to pressure the Senate to confirm our Federal Reserve slate, the Fossil Free Finance Act is a huge opportunity to finally change how the financial sector invests in fossil fuels and turn the tides for our climate.
If this bill passes, big banks would not be allowed to finance:
With your help, we know we can increase the amount of co-sponsors on this bill by next week and send a clear message to the oil and gas industry that their days are numbered.
Together we can show the power of our demands and build the pressure needed to win.
In solidarity,
Team 350
1 - Washington Post
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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.