Banking on Climate Chaos – The Fossil Fuel Finance Report

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EcoJustice RadioEcoJustice Radio discusses the Banking on Climate Chaos report, how banks are funding carbon-intensive fossil fuel projects and why they need to divest now.

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Banking on Climate ChaosMultiple banks have pledged to clean up their fossil fuel funding with net-zero carbon commitments, but they continue business-as-usual, pushing for profit by championing destructive projects responsible for driving climate chaos.

The 2022 annual report, Banking on Climate Chaos, revealed that fossil fuel financing from the world’s 60 largest banks has reached nearly $4.6 trillion in the six years since the adoption of the Paris Climate Agreement, with $742 billion in 2021 alone.

STORY: Solidarity Actions on Climate Justice – Stopping Pipelines and Dirty Banks

On this show, we delve into the Banking on Climate Chaos report with Ruth Breech from Rainforest Action Network, one of the organizations that authored the report. She discusses how these findings underscore the need for banks to immediately implement policies that end their financing for fossil fuel expansion. Moreover we highlight some of these projects causing climate chaos and the worldwide movement of communities coming together to demand that the financial sector get out of the oil and gas business altogether.

STORY: Green Banking: Toward A Regenerative Economy

More Links:

-Climate Town Video I Your Money is Cheating on You with the Fossil Fuel Industry

-Green America’s Better Banking https://www.greenamerica.org/better-banking

-Take Action with Stop the Money Pipeline https://stopthemoneypipeline.com/action/

-Book: All We Can Save: Truth, Courage & Solutions for the Climate Crisis https://www.allwecansave.earth/anthology

*Ruth Breech is Senior Campaigner for Rainforest Action Network’s Climate and Energy team. She is responsible for organizing corporate accountability campaigns on financial institutions, supporting front line communities impacted by fossil fuels and climate change, partnering with Indigenous leaders and working with grassroots networks across the country to Defund Climate Chaos.

Ruth brings 20 years of on-the-ground-work with environmental justice frontline communities. She is the recipient of the 2009 Healthy School Heroes Award for her leadership in relocating an elementary school in Ohio away from a plastics plant and its cancer causing emissions. She serves on the board of Crude Accountability International & Earth Guardians.

Podcast Website: http://ecojusticeradio.org/
Podcast Blog: https://www.wilderutopia.com/category/ecojustice-radio/
Support the Podcast: https://www.patreon.com/ecojusticeradio

Hosted by Jessica Aldridge
Engineer and Original Music: Blake Quake Beats
Executive Producer: Jack Eidt
Show Created by Mark and JP Morris
Episode 135
Photo credit: Ruth Breech

Updated 22 June 2022

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About Jack Eidt

Novelist, urban theorist and designer, and environmental journalist, Jack Eidt careens down human-nature's all consuming one-way highway to its inevitable conclusion -- Wilder Utopia. He co-founded Wild Heritage Partners, based out of Los Angeles, California. He can be reached at jack (dot) eidt (at) wilderutopia (dot) com. Follow him on Twitter @WilderUtopia and @JackEidt