Tell the world's largest investors: Stop big banks from funding climate chaos!

EM-210417-StopTheMoneyPipeline-014_367x500px.jpg

Big U.S. banks are fueling the climate crisis, but their shareholders can vote right now on resolutions demanding that the banks meet their own climate commitments and stop financing fossil fuel expansion. The world's largest investors, like Vanguard and BlackRock, have billions invested in top U.S. banks. As top shareholders, they can push big banks like Chase and Bank of America to stop bankrolling fossil fuel expansion.

A landmark report last year from the world's top energy experts concluded that in order to limit global warming to 1.5°C, we must immediately stop the expansion of new fossil fuel production. And we know that exceeding 1.5°C of warming will have devastating impacts on communities, ecosystems, and our global economy.

Despite this, banks have continued to fund fossil fuel expansion, pouring billions of dollars into facilitating new projects and ignoring the risks that this poses to communities, investors, and to the entire economy. This spring, investors who own stock in U.S. banking giants will have the chance to vote on proposals calling for banks to adopt policies that align with the long-term climate commitments they've already made. Major asset managers like BlackRock and Vanguard are the largest shareholders of the big banks, and therefore are uniquely positioned to make a huge impact on these important votes.

Last month, major asset managers like BlackRock, Vanguard, and State Street let us down by blocking proposals at major U.S. banks that would require them to phase out financing for fossil fuel expansion. These investors claim to be climate leaders, but they've repeatedly stood in the way of real climate action. But they still have time to do the right thing- and use their shareholder power to hold big banks accountable at the next round of meetings. 

Send a message to the big banks' largest shareholders: Tell them to stop banks from financing reckless new fossil fuel expansion.

9274

signatures of 5000 goal

By clicking continue, you will also receive periodic communications from the Sierra Club. You can unsubscribe at any time.

By providing your mobile number you consent to receive cell phone and text communications from Sierra Club and its affiliated entities concerning environmental news and action opportunities.

By clicking continue, you will also receive periodic communications from the Sierra Club. You can unsubscribe at any time.

Photo credit: Erik McGregor | Image of protesters outside of the BlackRock Headquarters in New York City holding a yellow banner that reads "All eyes on BlackRock: Vote for climate NOW. The world is watching you"