Fossil-Free Finance

Fossil-Free Finance

We're pushing major Wall Street companies to stop financing fossil fuel expansion and help accelerate the transition to a clean energy economy for all.

Everyone knows about the fossil fuel industry’s role in the climate crisis. But there’s another, lesser-known culprit: Wall Street. Join the growing movement telling Wall Street to move money out of dirty energy projects and scale up financing for clean energy instead. Sign the petition to tell America’s largest banks to stop funding fossil fuels!

US Banks

Big US banks JPMorgan Chase, Citibank, Wells Fargo, and Bank of America are some of the biggest fossil fuel financiers in the world. If we want to avoid climate chaos, we must call on banks to stop funding coal, oil, and gas and invest in clean energy.

Investors

Major investors — including asset managers like BlackRock and Vanguard and pensions like CalPERS — help people manage their retirement funds and other investments. But these financial institutions are also funneling money into the companies wrecking our planet.

Financial Regulation

Powerful federal regulators like the Federal Reserve, the Department of the Treasury, and the Securities and Exchange Commission all have a role to play in ensuring the US economy and our banking system are protected from climate-related financial shocks.

In the News

Vox: The longshot campaign to get big banks out of fossil fuels

New Republic: Republicans say 'woke' Wall Street is boycotting fossil fuels, but the numbers prove otherwise

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At COP29, US Climate Congress Changes Tune

The biggest US banks are laggards on fulfilling their climate commitments

Climate Protesters Take on Wall Street

Report: Rio Grande Valley in Texas at Risk from LNG Export Terminals

October 18, 2022

Sierra Club, Rainforest Action Network analysis details community & Indigenous opposition, climate & health impacts, ecosystem damage, reputational & financial risk

Advocacy Groups Urge Global Asset Managers to Align with UN Net-Zero Guidelines

October 7, 2022

WASHINGTON, DC — Today, the Sierra Club and a global coalition of 23 advocacy groups sent an open letter to the Net Zero Asset Managers Initiative (NZAM) urging the initiative to update expectations for its members to reflect the latest Race to Zero…

Local Climate Advocates Respond to Louisiana Treasurer’s Move to Cut Ties with BlackRock

October 5, 2022

BATON ROUGE — Today the Louisiana state treasurer announced plans to cut ties with major asset manager BlackRock and withdraw nearly $800 million in state money from the firm due to its stated sustainability policies. The move puts Louisiana in a…

Federal Reserve’s Climate Pilot for Banks a Promising Start in Effort to Rein in Wall Street’s Risky Behavior

September 29, 2022

Agency to launch climate scenario analysis exercise in early 2023

Sierra Club Responds to Threats from US Banks to Leave Global Net-Zero Alliance

September 21, 2022

Media outlets reported today that major US banks are threatening to leave the Glasgow Financial Alliance for Net Zero (GFANZ) over concerns that updated criteria around financing of new fossil fuel projects may make the banks vulnerable to legal…