“This is a major victory for Indigenous resistance and the climate. Trudeau needs to stop supporting this risky project immediately, and end all fossil fuel subsidies,” said Kyle Gracey of OCI.
Nearly 150 organizations sent a letter urging Special Presidential Envoy for Climate John Kerry to use his powers to end the flow of finance from Wall Street to the industries driving climate change.
Nearly 400 groups called on President-elect Joe Biden to sign an executive order to confront the climate emergency with the full power of the executive branch as soon as he takes office.
Today across the nation, activists in 60 cities and 25 states plan to utilize COVID-safe and creative ways to deliver letters calling on major banks to distance themselves from the funding of the toxic Keystone XL and Enbridge’s Line 3 tar sands pipelines.
Stop the Money Pipeline, a coalition pushing financial institutions to end support for the fossil fuel industry, sent a letter to the Biden/Harris transition team urging strong climate action criteria regarding appointments to financial regulators and the Treasury Department.
“If banks won’t stop funding climate devastation, our government must force their hand, and Senator Merkley’s bills would force the action we need,” said David Turnbull of Oil Change International.
“Chase’s path to aligning with the Paris Agreement is obvious — it must stop funding fossil fuels immediately. Anything short of an end to fossil finance is woefully insufficient.”
The Commodity Futures Trading Commission issued its report on the risks that the climate emergency poses to the financial system. Stop the Money Pipeline partners issued the following responses.
In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.
With the health and livelihoods of billions at risk from COVID-19, governments around the world are preparing historic levels of stimulus finance. Building a Just Recovery that avoids the worst of climate change means overhauling our public finance institutions fast.