Gabby Brown, gabby.brown@sierraclub.org
New York, NY -- Last week, Citigroup and JPMorgan announced their commitments to power all their operations with renewable energy by 2020. However, both banks continue to invest in dirty fossil fuel pipelines and other projects that contribute to climate change and threaten human rights.
According to the 2017 report, Banking on Climate Change, JPMorgan Chase and Citi invested $20 billion and $13 billion, respectively, in extreme fossil fuels between 2014 and 2016 alone.
In response, Sierra Club Beyond Dirty Fuels campaign director Kelly Martin released the following statement:
“It’s good to see these major banks recognizing the need to transition to clean, renewable energy for their own operations. But these banks play a major role in financing dangerous fossil fuel projects that threaten our climate and communities, and without a commitment to stop supporting these projects, this announcement rings hollow.
“That’s why communities across the country are calling on their local governments and institutions to divest from banks that support fossil fuels, and why thousands of people have already committed to moving their own money out of these banks. It’s time for big banks to recognize that investing in dirty fossil fuel projects is bad business.”
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with more than 3 million members and supporters. In addition to helping people from all backgrounds explore nature and our outdoor heritage, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.