With the release of a U.N. panel's scientific report in October 2018--which alarmingly concluded that the world had 12 years to dramatically cut back on greenhouse gas (GHG) emissions--the world's nations were faced with a (possible) existential dilemma. They had to either start making massive cuts in fossil fuel use, or face a climate crisis. Despite signing the Paris Climate Accord in late 2015 in an effort to address climate change, governments hadn't taken the issue seriously, and now faced a dire situation.
Well, with the release of the Fossil Fuel Finance Report Card 2019 by Rainforest Action Network and other groups, we now know that the vast majority of the private sector banks around the world haven't been taking the impending climate crisis seriously either. In the three years since the Paris Climate Accord, 33 private sector banks around the world invested $1.9 trillion into fossil fuel projects and companies. And not surprisingly, U.S. banks led the way with JPMorgan Chase, Wells Fargo, Citi, and Bank of America taking the top four slots in financing the climate-wrecking fuels.
Climate First!'s strategy to get the U.S. start quickly backing away from fossil fuels is to "follow the money,” i.e., go after the banks which are investing in dirty energy. Its "#DefundClimateChange" campaign is presently confronting Wells Fargo over its massive increase in investments in fossil fuels over the last three years--Wells Fargo is #2 on the list, behind only JPMorgan Chase--asking the bank to start divesting for the sake of the climate. And to pressure Wells Fargo to divest from fossil fuel investments, we are building a large coalition of groups and organizations throughout the Mid-Atlantic region.
Join Climate First! as we tell Wells Fargo to wake-up to the climate emergency that confronts us all, and start divesting from fossil fuels.
Join Climate First! and our coalition allies as we organize periodic direct actions against Wells Fargo bank branches in the Mid-Atlantic region throughout 2019. See our next action here.
Other ways to get involved:
Call Wells Fargo Interim CEO Allen Parker: 866-878-5865 and ask:
“I respectfully ask that Wells Fargo end its financial involvement with all new fossil fuel projects. I oppose Wells Fargo funding such projects--such as the Keystone XL pipeline--because the latest climate science states that no new fossil fuel infrastructure must be built if the world is to avoid the impending climate crisis. I ask that Wells Fargo undertake a rigorous review of its lending policies, and end its involvement with any energy company involved in new fossil fuel projects. In taking such a principled stand against such investments, Wells Fargo would certainly be heralded as an environmental leader in the banking world and beyond!”
If you are a customer of Wells Fargo, contact your local Wells Fargo and share your version of the attached letter with them. Just cut and paste the sample letter into a Word document, and create the letter you want to discuss with your branch manager.
Connect with them on Facebook to let them know how you feel: https://www.facebook.com/wellsfargo
Below: After the permit for the KXL pipeline was approved by the State Dept in 2017, Climate First! attended an emergency rally near the White House to show its resolve in opposing the project.