Activists Rally Against JPMorgan Chase in National Day of Action: #ShutDownChase
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New York NY – A broad coalition of activists and community leaders rallied on May 7, 2018, outside JP Morgan Chase Headquarters on Park Avenue, along with 14 US cities for #ShutDownChase, a national day of action holding top US funder of extreme fossil fuels, JPMorgan Chase, accountable for its financing practices. Chase has claimed to support the Paris Agreement, yet has been ramping up its funding for the worst fossil fuels and in the process, has financed projects and companies that threaten Indigenous rights and culture.
“As the biggest financier of extreme fossil fuels on Wall Street, JPMorgan Chase is putting the Paris Agreement goal of a “1.5 degree world” further out of reach every month,” said Tess Geyer, Senior Climate and Energy Organizer at Rainforest Action Network. “We’re telling them: no more profiting off climate chaos and Indigenous rights abuses. They need to get out of tar sands, coal and other extreme fossil fuels now.”
Demonstrations spanning from New York to California sprung up outside Chase branches and city halls today, one week ahead of the bank’s annual general meeting, scheduled for May 15 in Plano, Texas.
“We’ve come together in Los Angeles to call upon our city to do better, to be a true leader in the movement towards a sustainable world,” said Madeline Merritt of Divest LA. “We were able to successfully lead the city to divest from Wells Fargo, and now are committed to drawing national attention to JP Morgan Chase for its ongoing crimes against people and planet, and its callous financing of extreme fossil fuel projects. We are here to Shut Down Chase and any other immoral financial institutions that put short term profits over our precious lands, waters and our future generations.”
In the face of the Trump administration’s full-blown climate denialism, the public is tying the climate, environmental, and human rights impacts of fossil fuels to the financial institutions backing the sector.
One of the Paris Agreement’s three objectives is “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” As laid out in Banking on Climate Change: Fossil Fuel Finance Report Card 2018, this means banks must end their support for extreme fossil fuels and cease financing further expansion of any fossil fuels.
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