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Third Act Sacramento Banking Campaign to Hold Protest and Die-In on Friday, October 21 [1]
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Date: 2022-10-20
The Third Act Sacramento Banking Campaign will hold a street protest and Die-In on Friday, October 21 from 11:45 a.m. to 1 p.m. against JP Morgan Chase. The activists will meet at 1300 21st Street at the intersection of Capitol Avenue in Sacramento.
“Third Act Sacramento members are concerned seniors over 60 joining together to protest Chase Bank’s continued funding of the fossil fuel industry resulting in cruel deaths caused by climate change,” according to Professor Diana Cassady of the group Third Act Sacramento.
As the world’s largest lender to fossil fuel companies, with $382 billion in loans since the Paris Accords, Chase must be confronted with the mounting climate related deaths in which they are complicit. In 2022, there have been over 1,700 deaths in Pakistan’s flooding and 500 deaths in Nigerian floods. Worldwide, 5 million deaths per year have been attributed to abnormal temperatures due to climate change according to a July 2021 study in the Lancet Planetary Health.
“JP Morgan Chase’s loans expand new fossil fuel operations and show that Chase is not committed to maintaining a livable future by limiting global warming to 1.5 degrees,” stated Ms. Cassady.
“Chase is the World's Worst Banker of Fossil Fuels out of the 60 financial institutions studied, followed by Citigroup, Wells Fargo, and Bank of America. In the last five years, these four banks loaned to fossil fuel companies $382 billion, $237 billion, $223 billion, and $198 billion respectively,” said Cassady. In total, since the Paris Climate Accords were signed, Chase, Citi, Wells Fargo and Bank of America have loaned the fossil fuel industry a trillion dollars.
Without these loans, coal, oil, and gas would stay in the ground. And Wall Street banks could loan money to clean energy companies.
Chase Bank CEO must heed the calls of so many customers who are asking for divestment of their savings from fossil fuels in view of the deaths from climate change. Bank customers see the direct connection between Chase’s lending practices and recent floods in Pakistan and Nigeria where 30 million Pakistanis are affected by flooding.
“With our efforts, tens of thousands of Americans have so far pledged to close their accounts in these Wall Street banks if they do not stop loaning money to fossil fuel companies by early 2023," added Cassady.
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