Fossil Banks – No Thanks
Climate change, long considered an urgent but future threat, is now with us, and already impacting the lives of millions of people around the world. It’s being driven in large part by the continued exploration and burning of coal, oil and gas. To stop a further climate breakdown we urgently need to bring the fossil fuel era to an end.
One way to achieve this is to stop large commercial banks from financing the fossil fuel industry. Only massive public pressure will make banks end their support for this climate-wrecking industry. That is why we started this campaign. We are counting on you to help build that pressure on the Fossil Banks.
Banks: stop financing fossil fuels
“We, organisations and individuals from all over the world, are now directly experiencing the impacts of climate change on our lands and our lives. We are living through temperature extremes; we witness the disruption and destruction brought to our communities and societies by floods, storms, droughts and fires; we grieve for what is precious to us and lost, and we fear for the future of our children.
In light of this grave threat, we demand decisive action on tackling the root cause of climate change, which is the continued extraction and burning of coal, oil and gas – by far the largest source of greenhouse gas emissions. We can end the fossil fuel era – the technology exists – but only if governments and financial institutions end their support for the fossil fuels of the past and instead invest in a rapid and just transition to a 100% clean energy future that serves our communities and not corporations.
This requires that you, our banks, which hold our money – acknowledge that your continued support for the fossil fuel industry is incompatible with stopping catastrophic climate change, and that you take concrete steps to end this support.
We therefore demand that, by the 24th UN Climate Summit in December 2018, you:
- publicly clarify your bank’s position on the relation between climate change and the extraction and burning of fossil fuels
And that, by the 25th UN Climate Summit in November 2019 at the latest, you:
- publicly commit to immediately end your support for all new fossil fuel projects, including exploration, extraction, transportation and power
- publish a robust plan for phasing out your support for all existing fossil fuel projects and companies on a timetable consistent with what is necessary to meet the Paris targets.
We welcome all other steps your bank will take to help combat climate change, such as financing renewable energy solutions, but we will judge you first and foremost on your public commitment and strategy to terminate your support for the fossil fuel industry.
With so much at stake, you can count on our relentless efforts to ensure your bank makes these commitments. We will not rest until you side with us in ending the fossil fuel era.”