OpEd: 'If we stop the flow of money, we can stop the flow of oil and gas.'
That’s why on October 29 young people are calling on megabanks and other financial institutions — particularly JPMorgan Chase in the U.S., and Standard Chartered, Royal Bank of Canada, BlackRock, AIG, Lloyds of London, Barclays, HSBC, Deutsche Bank, Credit Suisse, and MUFG internationally — to immediately stop funding fossil fuel expansion. Our movement aims to create severe reputational, political, and economic costs to banks that continue to enable the fossil fuel industry.
And let’s be clear, we will not be satisfied by the usual laundry list of empty promises propped up by fancy words and flashy campaigns. JPMorgan Chase, along with peer institutions, says they will commit to“.” Net-zero by 2050 means that, at least on paper, by 2050, an entity would need to stop contributing more pollution to the atmosphere than it is able to draw down.
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