Climate Protests Grow as More Banks Pull Fossil-Fuel Assets
/Videos and text by TIM FAULKNER/ecoRI News staff
PROVIDENCE — More protesters and financial institutions are joining the call to dump fossil fuels.
A Jan. 31 demonstration outside the Chase Bank on Thayer Street drew some 50 activists, the largest number since these local actions began last July.
The “die-in” was the latest effort to inform the public and Chase customers of the bank’s immense investments in fossil fuels. Chase is the top global investor and lender in the extraction of oil, natural gas, and coal. It has investments in offshore drilling, pipelines, and liquified natural gas. Chase Bank is the largest U.S. bank measured by assets.
Holding cardboard headstones above their heads, several protesters entered the bank chanting slogans and laid on the floor as they outlined the bank’s role in the climate crisis. Police arrived about 15 minutes later and escorted the protesters outside. There were no arrests.
Past demonstrations at local Chase branches were dominated by members of Climate Action Rhode Island, an affiliate of 350.org, and members of Sunrise Providence. But new voices have emerged during these peaceful acts of disobedience.
“I was going to give them my $71,000 today. I’m not,” said Susan Kelley, who recently moved from West Virginia to Cranston and came to the bank to open an account. “It’s very important what you are doing and you changed my mind.”
She received a round off applause from those gathered outside the bank.
High-school student Laila DeMartino took the microphone to say the protest wasn’t meant to vilify Chase but to help the employees and their children and grandchildren.
Dr. Joanna Brown spoke about the heath effects of climate impacts such as worsening air pollution from higher temperatures and mold caused by sea-level rise and increased flooding.
“We all have to think about what we — in our little niche, in our sphere — can do to avert climate change,” she said.
Kris Reed said he makes electrical vehicles at TPI Composites in Warren, because he’s passionate about a carbon-free future.
“I’m in,” he said. “It’s what I do for a living. I dedicate my life to renewable energy.”
Seabird scientist Martina Muller held a cardboard headstone that read: “Australia Fires 2020. 500 Million Animals Dead. Funded by Chase.”
Muller said the global decline in the seabird population prompted her to become an activist.
“It was getting harder and harder to find populations to study that were in a healthy state,” she said. “So, I came back home and I’ve been in the streets fighting for climate action.”
Some major banks and investment firms recently announced plans to end financing of fossil-fuel development. Last month investment powerhouse BlackRock pledged to divest from some fossil-fuel assets, such as coal. In December, Goldman Sachs said it would scale back investments in coal and fossil-fuel extraction in the Arctic.
Chase, meanwhile, said it supports the climate goals of the Paris Agreement, but has financed some $196 billion in fossil-fuel projects since the climate pact was signed nearly four years ago.
Climate activists are urging consumers to close bank accounts with fossil-fuel funders such as Bank of America, CitiBank, Wells Fargo, and Santander and consider banking with institutions that disavow fossil fuels such as Green America Visa, Aspiration, and local banks like Navigant Credit Union and the Washington Trust Co.
The Stop Chase campaign has led to protests at bank locations across the U.s., including Austin, Boston, Chicago, New York, San Francisco, Seattle, and Washington, D.C.
There were no arrests but there was a large police presence. (Tim Faulkner/ecoRI News)