America’s senior citizens hold most of the wealth and have released most of the carbon. Now some of those seniors are calling for change, by demanding big banks stop financing fossil fuel expansion. Recently ‘Third Act” led a day of protest in Boston at Chase and Bank of America to call for divestment from fossil fuels. We talks to some of the marchers.
From “Stop the Money Pipeline”: Since the Paris Agreement was adopted, Wall Street banks have provided $1.4 trillion to the fossil fuel industry. Big asset managers are the world’s largest investors in coal, oil, and gas. Insurance companies provide insurance for new fossil fuel projects without which they could not be built. The fossil fuel corporations driving the climate crisis depend on this support of the financial sector. That’s why we’re pushing banks, insurance companies and asset managers to end fossil financing. If we stop the flow of money, we stop the flow of oil.
The reading list:
- Third Act Day of Action 3/21/23
- Third Act additional actions
- Stop the Money pipeline
- We have emitted as much CO2 since 1990 as in all previous history
- McKibben's original New Yorker article " Money is the oxygen.."
- Analysis of the McKibben article.https://thirdact.org/our-work/banking-on-our-future/
- WBUR: Activists call for divestment
- WHDH: Activsts protest Chase Bank
- Guardian: dirty bank protest
- Find the current global CO2 ppm here
- How many days ‘til 2030?
Because we recognize the necessity of personal accountability for our actions, because we accept responsibility for a building a durable future and because we believe it is our patriotic duty as citizens to speak out, we must insist the United States transform it’s energy sector, over the next decade, under a just and equitable plan, that uses regulations, investments and a price on carbon that protects environmental justice communities.
Thanks for listening.