Climate protestors have called out U.S. banks for investing in fossil fuel, by spray painting graffiti on Citigroup and Bank of America offices in Bryant Park, New York, accusing them of being climate criminals. The protests come before the banks’ meeting with shareholders.
“The largest banks in the world invest hundreds of billions of dollars in new fossil fuel infrastructure, I’m not generally a person that likes to go out in the street and do things like this, but I have grandkids and I’m terrified for their future,” said Jim Gordon, one of the protestors outside the Citigroup office.
“Citi respects the advocacy of climate activists and their right to protest. We recognise the importance of transitioning to a low-carbon economy. That’s why we’re investing in clean energy solutions through our net zero commitments and our $1 trillion commitment to sustainable finance,” Citigroup said in a statement.
Citigroup added that “our approach reflects the need to transition while also continuing to meet global energy needs.”
The protesters represented groups that included Climate Organizing Hub, Extinction Rebellion, Green Faith, Oil and Gas Network and Stop the Money Pipeline.
The protests were planned at the headquarters of U.S. banks before their annual general meetings on Tuesday, including Citigroup, Bank of America and Wells Fargo, with plans to target JPMorgan and Chase.
Pressure has been building on major U.S. banks to commit to stopping funding for new fossil fuel projects, the actions outside the biggest U.S. banks will mirror several shareholder resolutions urging banks to phase out funding for new oil, gas, and coal development.
Some global banks have changed their policies; HSBC announced it was ending funding for new fossil fuel projects, while Danske Bank this year said it would stop financing oil and gas projects and corporate financing.
