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      big banks

      A demonstrator is seen holding a sign at a climate protest in Manhattan

      Despite Net-Zero Vows, Wall Street 'Climate Arsonists' Still Pumping Billions Into Fossil Fuels

      "It is business as usual for most banks and investors who continue to support fossil fuel developers without any restrictions, despite their high-profile commitments to carbon neutrality."

      Jake Johnson
      Jan 17, 2023

      Top banks in the United States and around the world have made a show of embracing net-zero emissions pledges, portraying themselves as allies in the fight against the global climate emergency.

      But a new analysis published Tuesday by a group of NGOs makes clear that the world's leading financial institutions—including major Wall Street banks such as Citigroup, JPMorgan Chase, and Bank of America—are still pumping money into fossil fuel expansion, bolstering the industry that is primarily responsible for worsening climate chaos.

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      Kentucky Treasurer Allison Ball

      Kentucky's GOP Treasurer Falsely Claims Big Banks Are Boycotting Fossil Fuels

      The Republican threatened to divest from financial institutions including JPMorgan Chase and Citigroup—widely accused of failing to meet even modest climate goals—under a state law banning "energy company boycotts."

      Brett Wilkins
      Jan 03, 2023

      Kentucky's Republican treasurer on Tuesday threatened to divest from 11 financial institutions—including major fossil fuel investors—that she falsely claimed were "engaged in energy company boycotts" in violation of commonwealth law.

      "When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky's signature industries," Treasurer Allison Ball said in a statement. "Traditional energy sources fuel our Kentucky economy, provide much-needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few."

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      big banks
      Federal Reserve Bank Board Chairman Jerome Powell

      Progressive Economists Warn of 'Catastrophic Outcomes' for Workers as Fed Hikes Interest Rates

      "Memo to the Fed: Interest rate hikes aren't working because inflation is being driven by corporations using it as cover to price gouge the people," argued former U.S. Labor Secretary Robert Reich.

      Brett Wilkins
      Nov 02, 2022

      As the U.S. Federal Reserve on Wednesday raised interest rates--the fourth consecutive 0.75% increase and the sixth hike of the year--progressives stressed that Fed policy boosts the likelihood of a global recession and disproportionately harms low-income workers and other marginalized people.

      "Working people should not be the target of lowering inflation, it should be corporations that are earning record profits."

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