Over 500 organizations, including a wide range of health, faith, environmental, and other groups across the United States released a letter today calling on Congressional leadership to eliminate the fossil fuel subsidies embedded in the U.S. tax code.
Over 500 groups released an open letter being sent to U.S. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, urging them to end fossil fuel subsidies.
“Every day President Biden refuses to stop the Line 3 pipeline is a slap in the face to Indigenous and environmental justice communities. Climate leadership means ending the fossil fuel era and stopping Line 3.”
“Big Oil’s continued existence is the single biggest threat to our climate, and it’s long past time to end giveaways of public money to fossil fuel companies once and for all,” said Rees.
Local and national organizations across the country are coming together for the virtual Rally to End Polluter Welfare because it’s time for Congress to fund our futures instead of fossil fuels.
The Stop the Money Pipeline Coalition welcomes Biden’s Executive Order as an important step for the climate finance movement and urges the administration to deliver strong reports and action plans ahead of the COP26 climate talks in Glasgow.
“President Biden’s executive order is a welcome change from past failures to regulate the financial industry, but the Biden administration must make it crystal-clear that ‘net zero’ means no more fossil fuel expansion and no false solutions,” said Rees.
National organizations are demanding President Joe Biden appoint a strong climate leader as Federal Reserve Chair who will implement policies and rules at the scale needed to address the climate crisis.
“California is the highest-producing jurisdiction in the world so far to commit to a phase-out of oil extraction, and other major producers need to join the state in committing to move beyond oil and gas,” said Collin Rees of Oil Change International.
“Today’s announcement by President Biden on international fossil finance is welcome but the lack of firm commitments falls short. We urge the Biden administration to add a clear commitment to an immediate phase-out, with no loopholes for gas or any other continued fossil support.”