December 6th: Mobilize for Climate Justice & Immigrant Rights
11am in Franklin Square
14th & I St NW, Washington, DC
Around the world, climate change is driving mass migration as water dries up, farmland turns to desert, shorelines erode, coastal areas flood, permafrost melts and ecosystems can no longer support the communities they once could. And it is going to get much much worse. As far back as 1990, the Intergovernmental Panel on Climate Change (IPCC) noted that the greatest single impact of climate change could be on human migration - and we’re seeing this projection come true. The latest estimates predict as many as 200 million climate refugees by 2050.
This is a climate and human rights crisis. Climate migrants routinely face life threatening hardship, discrimination and repression in their search for safety for their families, and often those most vulnerable to changing climate and extreme weather lack the resources to migrate, so remain in harm’s way.
Even worse, many of the same banks that made billions of dollars financing the fossil fuel industry that caused the climate crisis--Black Rock, Wells Fargo and JP Morgan Chase--are now profiting off of climate chaos by investing in the companies that are contracting with ICE to finance border wall construction and run for-profit prisons and detention centers. First they drive climate migration, and then they profit from it.
On December 6th, we’re going to shut down business-as-usual for the financial institutions that profit off of the climate crisis and immigrant detention. Meet us at 11am in Franklin Square (14th St. and I St. NW, Washington, DC 20005) for a rally featuring Jane Fonda and Fire Drill Fridays along with Saket Soni, the Executive Director of the National Guestworker Alliance, GreenFaith, the Franciscan Action Network and other climate, faith and migrant justice organizers. At 12 noon we’ll march through the streets of DC to visit the banks and financial institutions in DC that are profiting off of the climate crisis and immigrant detention.
Who is banking on injustice?
BlackRock is the biggest driver of the climate crisis that most people have never heard of. The company has over $6.5 TRILLION in assets under management – that’s roughly equivalent to the size of the world’s 20 largest pension funds.
BlackRock is the largest investor in both new coal plant development and existing coal reserves worldwide. It is also the largest investor in rainforest destruction, including in the Amazon. Deforestation is the second biggest driver of climate change after fossil fuels.
BlackRock is also a major investor in private detention centers and ICE contractors. The firm owns more than $250 million in stock in CoreCivic and another $250 million in stock in Geo Group, the two world's largest operators of private prisons and detention centers.
JP Morgan Chase
#1 Banker of Fossil Fuels (by 29%) with $196 B total
#1 Banker of 100 Top Companies Expanding Fossil Fuels
#1 U.S. Banker of Tar Sands Oil
#1 Banker of Arctic Oil & Gas
#1 Banker of Ultra-Deepwater Oil & Gas
#1 Banker of US Coal Mining
JP Morgan Chase has ZERO policies restricting finance to:
Tar Sand Oil
Arctic Oil and Gas
Ultra-Deepwater Oil & Gas
Liquified Natural Gas
Until recently, JP Morgan Chase was one of the largest financiers of private prisons and detention centers used by ICE, but under massive public pressure the bank agreed to stop loaning Geo Group and CoreCivic money. The bank, however, not sold off its stock in the companies and it continues to profit off of the criminalization of migrant families. According to its most recent filings with the Securities and Exchange Commission, JP Morgan Chase owns more than $28 million in stock in CoreCivic and more than $55 million in stock in Geo Group.
2nd highest fossil fuel financing globally ($152 B), with a dramatic increase each year
$32 billion to support fossil fuel expansion
World’s top banker of fracking ($30 billion)
Financing all four of the top companies fracking in the Permian Basin – EOG Resources, EQT Corporation, Pioneer Natural Resources, Concho Resources
Until recently, Wells Fargo was one of the largest financiers of private prisons and detention centers used by ICE, but under massive public pressure the bank agreed to stop loaning Geo Group and CoreCivic money. The bank, however, not sold off its stock in the companies and it continues to profit off of the criminalization of migrant families. According to its most recent filings with the Securities and Exchange Commission, Wells Fargo owns more than $19 million in stock in CoreCivic and more than $15 million in stock in Geo Group.
Bank of America
4th largest banker of fossil fuels worldwide – $106.687 billion (2016-2018)
Finances three of the top four companies expanding mining in the tar sands – Enbridge, Teck Resources, Exxon Mobil
Finances three of the top four fracking companies – EQT Corporation, Pioneer Natural Resources, Concho Resources
3rd largest banker of fossil fuels worldwide – $129.493 billion (2016-2018)
2nd largest banker for the 100 key oil, gas, and coal companies expanding fossil fuel extraction – $40.041 billion
4th largest banker of fracked oil and gas – $16.866 billion
Finances three of the top four companies expanding mining in the tar sands – Enbridge, Teck Resources, ExxonMobil
8th largest banker of fossil fuels worldwide – $74.151 billion (2016-2018)
2nd largest banker of Tar Sands mining – $13.7 billion (2016-2018)
Financing three of the top four companies expanding mining in the tar sands – TransCanada, Enbridge, Teck Resources
Where to find them
On December 6th, we're going to disrupt business as usual for the institutions that are funding the climate crisis and private detention centers. Here's a map of some of the places you can find them