Today, after more than a year of increasing pressure from climate activists, investors, legislators, and thought leaders, BlackRock CEO Larry Fink, in his highly anticipated annual letter, announced a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model.
Over twenty people occupied a Chase Bank branch in Washington, D.C. today to kick off Stop the Money Pipeline, a major new activist effort going after the financial industry’s funding of climate destruction.
A coalition of some of the nation’s leading climate, youth, and Indigenous organizations will launch a major new mobilization on Friday, Stop the Money Pipeline, that will pressure banks, insurance companies and asset managers to stop financing fossil fuels and deforestation and start respecting human rights and Indigenous sovereignty.
Today, BlackRock announced that it will be joining Climate Action 100+. In response to the decision, members of the BlackRock’s Big Problem network issued the following statements:
Virginians rallied at bank branches across the state yesterday to call on major banks to pull their support for the fossil fuel industry.
Virginians will rally at bank branches across the state tomorrow to call on major banks to pull their support for dirty fossil fuels.
According to disclosures submitted to the non-profit CDP and reported yesterday by Bloomberg, Wells Fargo sees the climate crisis as an opportunity to make more money.
Today, BlackRock CEO Larry Fink published his annual letter to CEOs. In this year’s letter, he describes an “increasingly fragile” global landscape and a need for corporations to be leaders and “address pressing social and economic issues.” Fink failed to mention climate change at all in the letter, despite the urgent need to take action on this issue.
In spite of mounting concerns about threats to Indigenous communities and the global climate, JPMorgan Chase, Wells Fargo, and Crédit Agricole, along with 11 other banks, have doubled down on their support for tar sands pipelines, renewing a $1.41 billion line of credit to Enbridge, the company behind the controversial proposed Line 3 tar sands pipeline.
Today, international financial services company NN Group announced that it will withdraw funding for tar sands pipeline companies including TransCanada and Enbridge, the companies behind Keystone XL and Line 3, respectively, citing concerns about climate impact and human rights abuses associated with tar sands pipelines.