Victories
We and our
national networks have
demanded that Chase
replace its fossil fuel
funding with funding for
renewable energies, and
last week Chase
announced they are
issuing a $1
billion bond for
sustainable/renewable
projects only! Chase
also recently announced
restrictions on funding
drilling in the Arctic and
on companies which get
more than 50% of their
revenues from coal, which
is a step in the right
direction, but they'll
still fund some companies
actively expanding Arctic
drilling and coal plants.
These are victories, but
not enough. Most
importantly, until Chase
stops pumping $65 billion
a year into fossil fuels
and leading the world in
so many fossil fuel
categories (see chart
below), we must must keep
the pressure on Chase.
BY THE END OF
THE YEAR: WE NEED
TO GET CHASE TO OFFER
ANOTHER BOND, this time
$5 BILLION, FOR
SUSTAINABLE/RENEWABLE
PROJECTS AND TO SHOW US
A CLEAR AND SIGNIFICANT
REDUCTION IN FOSSIL FUEL
FUNDING.
Check out their fossil
fuel rankings in the chart
below. It's estimated
climate change will cost
Rhode Islanders $2 to $6
billion.
So Now
What?
Join the CARI protest
against Chase Bank and
the 9-11 feet of
sea-level rise being
financed for a profit
and brought here by
Chase.
When:
Monday
September 28, 2020 11:30
to 12:30
Where: Chase
Bank branch, 580 Kingstown
Road, Wakefield/South
Kingstown
For more info
and to RSVP, click:
Sept.
28 Protest in Wakefield
and usage:
Here is Chase
Bank's ranking in
the world since the
Paris Climate Agreement
(2016-2019) which
called for a rapid
worldwide decline in
fossil fuel funding:
(from
the report: "Banking on
Climate Change 2020" by
the Rainforest Action
Network et al)
There's no time for
sugar-coating. The
following is about how
one aspect of global
warming- rising
seas- will
affect Rhode Islanders:
If we stay on the
current trajectory of
fossil fuel usage,
by 2075 Rhode Island will
experience five to seven
feet of sea level rise
which will permanently
inundate whole sections of
towns and cities such as
South Kingstown and
Narragansett, downtown
Providence and Newport,
and submerge the ports of
Providence, Galilee and
Quonset. Matunuck has been
losing eight feet of
shoreline a year and the
rate is increasing.
By 2100, based
on the current use
of fossil fuels,
over 9 feet of sea-level
rise will
further batter Rhode
Island. Rising seas will
cause coastal rivers to
rise and both will destroy
many homes and businesses,
eliminate many beaches and
salt ponds, and submerge
local treasures such as
the Trustom Pond and
Ninigret wildlife refuges.
There will also be
super-storms to add to
this toxic mix.
Why Chase Bank? Fossil
fuel companies can't
operate without bank
funding, and no other
bank in the world comes
close to Chase Bank's
fossil fuel funding. If
Chase changes course, the
smaller banks will follow,
and fossil fuel companies
will start to grind to a
halt. and we could see a
much better forecast for
sea-levels, fires,
droughts, super-storms,
etc.
Chase also has
a long history of
redlining and
discrimination against
Black, Brown, and
Indigenous people,
and the inundation of the
Port of Providence and the
fossil fuel facilities on
Allens Avenue will
threaten the well-being of
the thousands of nearby
frontline residents who
live in South Providence
and Washington Park.
We
demand Chase:
-immediately stop
funding new fossil fuel
projects,
-phase out its
current fossil fuel
lending,
-lend that money
instead for renewable
energy projects,
-pay reparations for
the historic harm they
have caused to Black,
Brown, and
Indigenous people.
