religious-groups-push-banks-to-cut-fossil-fuel-funding

Religious groups push banks to cut fossil fuel funding

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Faith-based environmental activists are targeting big banks like Citigroup to stop fossil fuel investments. Their tactics include protests‚ meetings with executives and encouraging religious institutions to switch to greener banks

Religious environmental groups are stepping up their efforts to pressure big banks into reducing fossil fuel investments. In mid-September‚ Citigroups chief sustainability officer met with four faith leaders to discuss the banks record on funding oil‚ coal and gas projects.

Citigroup had promised to reach net-zero carbon emissions by 2050‚ but reports show its now the second-largest funder of fossil fuel projects worldwide. Rabbi Jacob Siegel from Dayenu‚ a Jewish climate organization said: “(We) asked Citi what its justification was for continued fossil fuel expansion‚ and they didnt have an answer“

The meeting was a result of the Summer of Heat campaign which organized over 40 protests at Citigroups Manhattan headquarters. Demonstrators used unique tactics like singing instead of chanting and carrying religious symbols to bring a sacred energy to their actions.

Rev Chelsea MacMillan‚ an organizer for GreenFaith‚ explained: “The tone totally changes when people of faith come in‚ You can tell that when we come in this is a sacred duty and a sacred act for us: it freaks people out a little bit“

GreenFaith‚ founded roughly 32 years ago has evolved from a local volunteer group to a key player in advocating for fossil fuel divestment. Its director‚ Fletcher Harper stated: “Its a business issue but its also a moral issue‚ How does Citi explain not just the inconvenience but the devastation that people suffer because of what theyre doing to measurably destroy peoples communities?“

The organization is now collaborating with local groups like Rise St James in Louisiana to fight environmental threats. In August‚ GreenFaith members joined protests against Formosa Plastics a company partly funded by Citigroup thats planning to build a petrochemical plant in a low-income Black community.

Sharon Lavigne‚ founder of Rise St James‚ began her activism after researching health problems in her town. “I couldnt understand why we were having so many funerals“ she said. Lavigne‚ diagnosed with autoimmune hepatitis about 8 years ago‚ has been working to raise awareness of pollution dangers since 2018.

Sometimes I feel angry because not one of the politicians is helping us So were trying to go through God

Sharon Lavigne said

As faith-based environmental activism grows‚ these groups are using a range of strategies – from protests to encouraging religious institutions to switch to greener banks – in their fight against climate change

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