Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Press Release

Big Banks Plan to Double Down on Bad Fossil Fuel Investments

WASHINGTON -

Last night, Reuters reported that banks including JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup are planning to take direct ownership of failing oil and gas assets. The banks are reportedly awaiting regulatory waivers in order to move this plan forward. 

In response, Sierra Club campaign representative Ben Cushing released the following statement:

“It's never been more obvious that fossil fuels are a bad investment, and yet rather than following their supposed commitments to climate action, these big banks are doubling down on their toxic investments and getting directly into the fossil fuel business. The federal government should be working to ensure that oil and gas workers are taken care of during this time of economic turmoil, not giving big banks free rein to make a profit while communities pay the price. If allowed to move forward, this dirty deal would be a massive step in the wrong direction for our financial system and our climate.”  

###

Sierra Club logo

The Sierra Club is the most enduring and influential grassroots environmental organization in the United States. We amplify the power of our 3.8 million members and supporters to defend everyone’s right to a healthy world.

'I Think He Should Resign': Biden Joins Chorus of Demands for Cuomo to Step Down

Calls for the New York Democratic governor's ouster are growing after an investigation found that he sexually harassed multiple women in violation of state and federal law.

Jessica Corbett ·


Cori Bush, Progressive Lawmakers and Activists Hailed for New CDC Eviction Moratorium

"I think the message here today is clear," said Rep. Alexandria Ocasio-Cortez. "It's that everyday people can make a change. We can always demand better."

Brett Wilkins ·


As Biden Touts 110+ Million Vaccine Donations to the World, US Urged to Go Much Further

"The president has said that the U.S. will serve as a vaccine arsenal for the world," said one campaigner. "Ten thousand people die each day waiting for ambitious action to match this vision."

Jessica Corbett ·


'Give the Money Back,' Demands Tlaib After Revelation of $1 Million Donation to House Dems From Real Estate Titan

The seven-figure contribution to the House Majority PAC came weeks before Congress let the federal eviction moratorium expire.

Brett Wilkins ·


NYC to Become First US City to Mandate Proof of Vaccination for Certain Indoor Activities

New Yorkers will need to show proof of vaccination to enter restaurants, gyms, and theaters starting next month.

Julia Conley ·