“Stop the Money Pipeline” Coalition Targets Fossil Finance

On January 10, a coalition of over a dozen groups, including Fossil Free California, launched a major new campaign, Stop the Money Pipeline, that targets the financial sector’s funding of climate chaos.

Stop the Money Pipeline joined with Fire Drill Fridays in Washington, DC to kick off this new mobilization. On January 9, we had a great teach-in at which Bill McKibben, Eriel Deranger, and Jane Fonda (along with cameos from author Naomi Klein and Greenpeace’s Annie Leonard) laid out the strategy for this new effort.

On Friday, January 10, along with the Fire Drill Friday rally at the Capitol, activists including Jane Fonda, Bill McKibben, and HipHop Revolution’s Rev. Lennox Yearwood occupied a Chase Bank office and disrupted business, resulting in the arrest of Joaquin Phoenix and others.

There were also a number of solidarity actions across the country.

The goal of Stop the Money Pipeline is as simple as it is big: stop the funding of climate destruction. That means banks, insurance companies, and asset managers need to stop funding fossil fuels and deforestation and start respecting human rights and Indigenous sovereignty.

The Stop the Money Pipeline coalition brings together three important campaigns targeting the main pillars of the financial sector—banks, insurers, and asset managers—along with the ongoing fossil fuel divestment movement.

For banks, we’re going after JPMorgan Chase, the bank that is pumping the most money into fossil fuels. For insurance companies, we’re targeting Liberty Mutual, one of the largest insurers of new fossil fuel projects. For asset managers, we’re targeting BlackRock, the largest asset manager in the world and the biggest investor in fossil fuels and deforestation.

We’d also love for your organization to join the coalition if you’re not already involved. Send an email to Jamie Henn at 350.org if your organization wants to join the coalition. And sign up for updates at stopthemoneypipeline.com.