BCC_AtAGlance_image3.png

Bank of America: Take Action

TAKE ACTION

Closed For Good

Extinction Rebellion is running the #ClosedForGood Campaign, demanding the fossil fuel industry, and the governments and financial institutions that enable them, to Close for Good as the global economy recovers from the coronavirus. We need a rapid global transition away from fossil fuels and towards renewable energy and ecological sustainability if we are to avoid climate and ecological catastrophe, and resulting social collapse.

Fossil fuel projects don’t just need governmental approval - they also need money. Behind every fossil fuel project there's a private bank financing global heating and the destruction of Earth.

From Rainforest Action Network's Report: Banking on Climate Change 2020, "33 of the world's largest banks have financed fossil fuels with 1.9 trillion since the Paris Agreement was signed, with financing on the rise each year."

JPMorgan Chase, Wells Fargo, Bank of America, and Citibank are the four top banks funding fossil fuels globally - these banks account for 30% of all fossil fuel financing from the 35 major global banks since the Paris Agreement was adopted. They are leading life on Earth towards extinction.

Bank of America

Bank of America recently made a commitment to carbon-disclosure, but it remains the fourth worst banker of fossil fuels globally, averaging $39 billion annually since the Paris Climate Agreement was signed, and $48 billion in 2019. This funding creates risks for investors and to the company’s own enterprise, as the fossil fuel industry inevitably collapses, with renewable energy becoming the better investment.


Related Stories:
Featured:


Upcoming Events: