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Special Report | US Banks Still Foster Fossil Fuel Projects, Renege on Renewable Energy.

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Part 1: US Banks Pledged to Fund Renewable Energy, But They Still Spend Way More on Fossil Fuels.
In the years since the Paris climate agreement, banks have paid $1.9 trillion to finance fossil fuels.
Part 2: 'Radical Agents of Physical and Social Chaos': Campaigners Target Big Banks Over Destructive Fossil Fuel Projects
"It is simply nuts for banks to keep financing the ongoing destruction of the planet's climate."

Compiled by David Culver, Ed., Evergreene Digest <http://evergreenedigest.org>

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Part 1: US Banks Pledged to Fund Renewable Energy, But They Still Spend Way More on Fossil Fuels.
https://www.motherjones.com/wp-content/uploads/2019/03/FossilBanks1.jpg?resize=990,556 / Scott Olson/Getty

A new study shows that in the years since the Paris climate agreement, banks have paid $1.9 trillion to finance fossil fuels.

Marisa Endicott, Mother Jones

March 28, 2019 | Each year since the Paris climate agreement, major world banks have increased their financing of fossil fuels, pouring $1.9 trillion into the industry from 2016 through 2018. And, it turns out, US banks are the worst offenders, according to a recent report published by a group of environmental organizations.

“The sad reality is that the fossil fuel sector has only grown since Paris,” says Patrick McCully, climate and energy director for the Rainforest Action Network and one of the report’s authors. “The banks are following what the industry is doing, and the industry’s able to expand because it’s able to keep getting capital from the banks…It’s just this really alarming, really terrifying dynamic going on worldwide.”

https://www.motherjones.com/wp-content/uploads/2018/12/EndicottMarisa.jpg?resize=64,64 / / Marisa Endicott <>is a Ben Bagdikian editorial fellow in San Francisco.

Full story …


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Part 2: 'Radical Agents of Physical and Social Chaos': Campaigners Target Big Banks Over Destructive Fossil Fuel Projects

https://www.commondreams.org/sites/default/files/styles/cd_large/public/headlines/shut_down_chase.jpg?itok=l-ta9HIv 

/ Climate campaigners protested JPMorgan Chase's fossil fuel investments at a San Francisco branch in May of 2018. (Photo: Antonia Juhasz/Twitter)

"It is simply nuts for banks to keep financing the ongoing destruction of the planet's climate."

Jessica Corbett, Common Dreams.

Tuesday, April 09, 2019 | Environmental campaigners this week are pressuring a pair of big banks to stop pouring billions of dollars per year into destructive fossil fuel projects that drive the global climate crisis.



"Bankers are acting as radical agents of physical and social chaos; it's time for them to pull back and pay attention to science and society." —Bill McKibben, 350.org



A coalition of more than 100 groups sent a letter (pdf) to Bank of America CEO Brian Moynihan on Tuesday urging him "to refrain from any further financing of the Atlantic Coast Pipeline (ACP) and to urge other financiers to do the same."

Jessica Corbett is a staff writer for Common Dreams.

Full story …

Related:

It’s Time to Try Fossil-Fuel Executives for Crimes Against Humanity. Kate Aronoff, Jacobin Magazine

http://climatenewsnetwork.net/wp-content/uploads/2016/05/CROP-deepwater-spill-800x400.jpg / The Deepwater Horizon oil spill in the Gulf of Mexico in 2010 Image: EPI2oh via Flickr

  • It isn't hyperbole to say that fossil-fuel executives are mass murderers. We should put them on trial for crimes against humanity.
  • Related: Brace for Impact, as the Climate "End Game" Has Arrived.


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