Chase CHASE out of the fossil fuel business!
JP Morgan Chase is the world’s largest funder of the fossil fuel industry—by a wide margin. The bank has provided $269 billion in financing for the industry since the Paris Climate Agreement was signed in 2016, increasing funding each year. As the world’s worst banker of climate change, Chase Bank finances industries that are burning the Amazon and extracting coal, tar sands and ultra-deep water oil and gas.
350 Salem OR and other climate organizations picketed Chase Bank branches during 2019-20. As a result of intense global pressure, the primary architect of the bank’s climate denial campaign, Lee Raymond, has been demoted. At the bank’s virtual annual shareholder meeting on May 19, Chase faced multiple questions about climate change. Almost half of the shareholders, 49.6%, voted to require Chase to produce a plan to align its business with the goals of the Paris Agreement.
Bill McKibben talks about why the campaign against Chase Bank is right on the money. Check out Money is the Oxygen on which the Fire of Global Warming Burns.
POLITICO magazine talks about the end of the road for fossil fuel subsidies.
Do public demonstrations make a difference? My response is a resounding YES! We come away empowered and, even though it may not seem like it at the time, we influence those around us. I believe that the women’s vote, Indian independence, U.S. civil rights protections, the end of the Vietnam war, and South African apartheid would never have come about as they did without people getting out into the streets. It was the unrelenting accumulation of events, day after day, week after week, month after month, that changed the established order.
It is not the average citizen, caught up in the minutia of daily life, who determines the course of our future. It is those of us who pay attention, who speak out, and who are willing to be uncomfortable—perhaps even risk arrest—that drive change forward.
—Linda Wallmark, former Co-Coordinator, 350 Salem OR
In Oregon, Chase is the largest U.S. funder of the Canadian company seeking to build the Jordan Cove liquefied natural gas (LNG) export terminal and the 230-mile Pacific Connector Pipeline.