Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Press Release

More Than 40 Climate Activists Arrested at Bank Headquarters in NYC, More Risk Arrest in Seattle on Ahead of COP26 and New York Climate Week

WASHINGTON -
On the 10th anniversary of Occupy Wall Street and ahead of New York Climate week, 40 climate activists were arrested at bank headquarters and buildings of JP Morgan Chase, Citibank, and Bank of America to call on major Wall Street banks to stop financing fossil fuels by the start of the Glasgow Climate Talks on November 1st. Dozens more risk arrest at Chase and Bank of America bank branches as well as the Canadian Consulate in Seattle. Activists in Seattle are specifically calling out Chase and Bank of America for spending tens of billions bankrolling tar sands oil expansion and the Canadian government for supporting the Trans Mountain and Line 3 pipelines. They’re joined by more than 150 people across the U.S. delivering 150,000 petition signatures as part of the Stop the Money Pipeline coalition’s Deadline Glasgow: Defund Climate Chaos campaign.
 
 
The Glasgow Climate Talks are the most important international climate talks since the Paris Agreement was signed in 2015. It is also supposed to be “the climate finance COP.” Scientists say that almost 60% of oil and gas reserves and 90% of coal must remain in the ground to keep global warming below 1.5C. This follows a groundbreaking report from the International Energy Association earlier this year that stated, “there is no need for investment in new fossil fuel supply in our net zero pathway.” Yet, not a single Wall Street bank has committed to winding down their investments in oil and gas and all still have some exposure to coal. In fact, the largest fossil fuel financier, JP Morgan Chase, has publicly committed to funding oil and gas for years to come.
 
 
Thanks to a combination of strategic inside and outside pressure from organizers and activists over several years, a number of private institutions are scaling down their exposure to fossil fuels:
Meanwhile, bankers are stubbornly eager to fund oil and gas. That’s why grassroots activists are turning up the pressure and advocates and electeds have pivoted to pressuring Biden to appoint a climate leader to head the Federal Reserve, and introducing a bill to require the Fed to ban fossil fuel financing. The surge in attention to climate finance comes as the Biden administration is set to issue a climate-related financial risk strategy around the COP26 talks.

###

The Stop the Money Pipeline coalition is over 160 organizations strong holding the financial backers of climate chaos accountable.

Supreme Court Denies Trump Bid to Conceal Records From Jan. 6 Panel

One government watchdog group welcomed the decision as "a huge win for transparency."

Jessica Corbett ·


Jayapal, Lee Resolution Promotes More Peaceful US Foreign Policy

"It's far past time we take our foreign policy into the 21st century," said Rep. Barbara Lee. "We should be leading with diplomacy and human needs as the path to global security."

Brett Wilkins ·


Anti-War Veterans Group Issues Its Own 'Nuclear Posture Review'

Released ahead of a Biden administration report, the assessment warns that the danger of nuclear war is greater than ever.

Jessica Corbett ·


Critics Warn Puerto Rico Debt Plan Will Lead to More Austerity

"The island's ability to resume growth and avoid cuts in anti-poverty programs are both chief concerns," said one economic justice advocate.

Julia Conley ·


Faith Leaders, Rights Groups to Biden: End Immigration Detention

"People are losing their lives to a detention system that simply does not need to exist," said one immigrant rights advocate.

Kenny Stancil ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo