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

See All

At COP29, US Climate Congress Changes Tune

The biggest US banks are laggards on fulfilling their climate commitments

Climate Protesters Take on Wall Street

Powell Renominated for Federal Reserve Chair, Brainard for Vice Chair

November 21, 2021

Today, President Biden renominated Jerome Powell to continue in his current role as Chair of the Federal Reserve. He also nominated Lael Brainard, who currently serves on the Federal Reserve Board of Governors, as Vice Chair.

Sierra Club Statement on Saule Omarova Hearing for Comptroller of the Currency

November 17, 2021

This morning, Dr. Saule Omarova will face the Senate Banking Committee for a hearing on her nomination to be Comptroller of the Currency.

Morgan Stanley Sets 2030 Emissions Targets, But Fails to Rule Out Financing for Fossil Fuel Expansion

November 3, 2021

Today, Morgan Stanley announced new 2030 targets to reach its commitment to net-zero financed emissions by 2050. Last year, Morgan Stanley became the first major US bank to make a net-zero by 2050 commitment and it is one of the first major US banks…

Ending Fossil Fuel Finance is Key Test for GFANZ Net-Zero Commitments

November 2, 2021

Last night, the Glasgow Financial Alliance for Net Zero (GFANZ) announced that more than 450 financial firms with $130 trillion in assets have committed to net zero targets over the next three decades.

Goldman Sachs Joins Peers in Net-Zero Banking Alliance, But Has No Plan for Phasing Out Fossil Fuel Finance

October 26, 2021

Goldman Sachs announced yesterday that it has joined the Net-Zero Banking Alliance (NZBA), making it the last of the six major U.S. banks to join.