Senior Activists in Rocking Chairs Block Entrances to Four Largest US Banks to Fight Climate Change

Environmental activism is not just for the young. A group called Third Act is seeking to engage older Americans in the fight against Climate change. On March 21st, about 100 cities across 29 states saw people of all ages come out to protest the four largest banks in America – JP Morgan Chase, Bank of America, Citibank, and Wells Fargo – for their financing of fossil fuels. Protesters in rocking chairs blocked the entrances to bank branches to draw attention to the issue.

Source: MyNBC5-WPTZ/Youtube

According to a report from the Rainforest Action Network and other environmental groups, the four banks are among the world’s largest lenders to the fossil fuel industry. Since adopting the Paris climate accord in 2015, the banks have provided more than $1 trillion in lending and underwriting to companies building new coal plants, natural gas pipelines, and other fossil fuel infrastructure. With mounting pressure on Wall Street from both parties’ politicians, activists hope these protests will encourage the banks to change their policies.

While young people have dominated climate activism globally in recent years, with Swedish teenager Greta Thunberg organizing school strikes and the youth-led Sunrise Movement pushing Congress to pass last year’s landmark climate bill, Third Act founder Bill McKibben said that older Americans have a moral responsibility to join the fight. He pointed out that anyone over 65 has been on the planet for 80% of the carbon dioxide ever emitted.

The recent failure of Silicon Valley Bank has seen consumers and businesses pouring tens of thousands of dollars into the biggest banks in America, making the demonstrations more timely. On Monday, the UN’s Intergovernmental Panel on Climate Change issued a dire report warning that nations must rapidly shift their economies away from fossil fuels to prevent the most catastrophic consequences of Climate change.

Protests have been organized across the Atlantic too. In December, HSBC, the largest bank in Europe, said it would stop financing new oil and gas drilling. This followed a year of pressure from shareholders and activists.

However, not all Wall Street banks have stopped investing in fossil fuels. Asset managers such as BlackRock are still investing in natural gas pipelines, despite CEO Larry Fink’s embrace of ESG – environmental, social, and governance – investing, which has made him a top target for Republican lawmakers.

While organizers of the protests are encouraging customers of the biggest four banks to take their business elsewhere, they say that the main point of the protests is to push those banks to change their policies. According to McKibben, “The key is to push them in the months ahead to shift – that’s more important than purifying your own wallet!”

It’s heartening to see that people of all ages are joining the fight against Climate change. While young people have been leading the charge, it’s important that older Americans get involved too. The future of the planet depends on all of us working together.

If you’d like to get involved in the fight against Climate change, start by contacting your bank and urging them to stop financing fossil fuels. Let them know that you care about the environment and want to see them take action. You can also Support environmental organizations and politicians who are working to address the issue. Together, we can make a difference.

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