This is not the recipe to save the world, but one thing you can do to help lean on the lever is disinvest from any bank that funds fossil fuel extraction. I’m not talking primarily about investment accounts. I’m talking about ordinary banking and credit cards. If you bank with Bank of America or Wells Fargo, move your money. If you have a Citibank credit card, get a credit card with someone else.
The Rainforest Action Network annually publishes a report “Banking on Climate Chaos” for consumers to look up their banks and see how dirty they are. Recommended.
Banks turn out to be surprising leverage points in the extractive industries. They’re actually much larger and much more powerful than the extractive industries they lend money to. The extractive industries need banks way, way more than banks need the extractive industries. Banks could be convinced to stop funding them by social pressure, and then the extractive industries would starve and die.
What can we do to stop them?, realistically or otherwise.
@icepuncher69
This is not the recipe to save the world, but one thing you can do to help lean on the lever is disinvest from any bank that funds fossil fuel extraction. I’m not talking primarily about investment accounts. I’m talking about ordinary banking and credit cards. If you bank with Bank of America or Wells Fargo, move your money. If you have a Citibank credit card, get a credit card with someone else.
The Rainforest Action Network annually publishes a report “Banking on Climate Chaos” for consumers to look up their banks and see how dirty they are. Recommended.
Banks turn out to be surprising leverage points in the extractive industries. They’re actually much larger and much more powerful than the extractive industries they lend money to. The extractive industries need banks way, way more than banks need the extractive industries. Banks could be convinced to stop funding them by social pressure, and then the extractive industries would starve and die.
@TokenBoomer
@icepuncher69
https://www.ran.org/wp-content/uploads/2023/04/BOCC_2023_06-27.pdf
@TokenBoomer
His reply is better. ^ Here is the link to the website.