“The pipeline would devastate diverse communities, cultures, ecosystems, and the climate along its route,” said Friends of the Earth senior campaigner Donna Chavis. “Bank of America will share blame for the environmental disruption caused by this project.”
Bank of America is one of the top funders of fossil fuel projects, according to the most recent Banking on Climate Change report, published in March. The bank ranked fourth overall and invested more than $33 billion in dirty energy projects in 2018 alone. Its three-year total was more than $106 billion. Citi ranked third, and Wells Fargo second.
The top funder of fossil fuel projects—JPMorgan Chase, which spent nearly $64 billion last year and over $195 billion since 2016—is also under fire from campaigners this week. Similar to protests held last year, advocacy groups are organizing a national day of action for Wednesday, with #ShutDownChase actions planned at branches in over 20 cities, including New York, Boston, Chicago, San Francisco, and Seattle.
“We are calling on Chase to stop investing in the fossil fuel corporations that are causing both the devastation of Mother Earth and such huge harms indigenous communities,” said Mazaska Talks founder Rachel Heaton, noting the documented spikes in violence against indigenous women near “man camps” that service fossil fuel extraction sites.
“At this late date, it is simply nuts for banks to keep financing the ongoing destruction of the planet’s climate,” added 350.org co-founder Bill McKibben. “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.”
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