We are a coalition of 230+ organizations working to hold the financial sector accountable for its role in fueling climate chaos and environmental racism.
Join us to help end financing for fossil fuels.
We are a coalition of 230+ organizations working to hold the financial sector accountable for its role in fueling climate chaos and environmental racism.
Join us to help end financing for fossil fuels.
Insurers are driving the climate crisis by covering and investing in fossil fuels. AIG is one of the worst offenders: It’s a top three insurer of oil and gas globally, and one of the few insurers covering multi-billion dollar coal projects.
Since 2016, Bank of America has provided $232 billion to coal, oil and gas companies.
In 2021, Bank of America committed to net zero financed emissions by 2050. But in order to truly “walk the walk” Bank of America needs to stop financing new fossil fuel projects like the Line 3 and Mountain Valley pipelines.
BlackRock is the biggest driver of climate chaos you’ve never heard of. With over $10 trillion under management, they’re the world’s largest investor in fossil fuels and deforestation.
BlackRock has taken some baby steps, but it’s time for it to walk its talk and stop pouring its money into climate destruction.
Citi is the US’s largest funder of coal and the world’s second-largest funder of fossil fuels overall. If they stopped loaning money to new coal, oil and gas projects, it would have a huge impact.
Chubb CEO Evan Greenberg talks a big game on climate, but his words ring hollow when examining the company’s business practices: Chubb continues to be a massive insurer of new oil and gas extraction projects that fuel more powerful and frequent wildfires and other natural disasters.
With around $24 billion in fossil fuel investments, The Carlyle Group is one of the biggest private equity firms fueling the climate crisis.
Meanwhile, the Carlyle Group’s founder, David Rubenstein, has used his billions to hide behind philanthropy, attaining positions of power at respected institutions, including the Kennedy Center, the Harvard Corporation, and the National Gallery of Art.
Private equity firm KKR, co-founded by Henry Kravis, has invested nearly $15 billion in fossil fuel projects in the last two years.
Activists are calling on the Museum of Modern Art (MoMA) to cut ties with Kravis. MoMA has taken substantial donations from Kravis, and appointed his wife as their board chair.
Did you know that Chase Bank has financed fossil fuels with $382 billion since 2016?
This is still just a small part of the finance industry’s business. They could stop tomorrow.
Insurance companies are supposed to protect us from catastrophic risks. Yet when it comes to the largest threat to humanity – climate change – insurers are fueling dangerous global warming by financing dirty fossil fuels.
Liberty Mutual is a top insurer of and investor in massive fossil fuel projects, like the Trans Mountain pipeline.
State Street is the world’s third largest investor in coal, oil and gas companies, just behind BlackRock and Vanguard. They also have huge amounts of shares in banks like Chase and Citi.
For fossil fuel expansion to stop, investors must act.
In April 2021, Travelers Insurance announced plans to become carbon neutral across its operations by 2030.
But its commitment failed to address the company’s biggest contribution to climate chaos: Travelers is one of the last major global insurers that has no restrictions whatsoever on underwriting coal.
Vanguard is the second-largest asset manager in the world, responsible for investing over $8 trillion.
But not only is it a massive funder in fossil fuels, but Vanguard’s environmental, social, and governance (ESG) funds represent only 0.38% of its total assets under management. Across the board, its climate actions lag far behind even slow-moving peers like BlackRock and State Street.
Despite Wells Fargo pledging to achieve net zero emissions by 2050, the bank continues to finance fossil fuel expansion.
Wells Fargo was a key financier of the Dakota Access Pipeline, which continues to endanger the water supply of the Standing Rock Sioux.
Financial institutions are funneling billions into new oil and gas projects. We’re fighting to change that.
→ We hold banks accountable for fossil fuel financing
→ We push insurance companies to stop insuring new coal, oil, and fas projects
→ We campaign on investors to divest from fossil fuels & use their shareholder power to address the climate crisis
→ We push the federal government to regulate Wall Street
LEARN MORE ABOUT STOP THE MONEY PIPELINE