Discover and read the best of Twitter Threads about #StoptheMoneyPipeline
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The KEY question, I'm asked by students when I guest lecture about the #ClimateCrisis is 'but what can we do?'
So I recently rewrote my materials to try & tackle that question head on. Feel free to adapt them.
Buckle up - here's a LONG thread🧵about how we can fight back!
So I recently rewrote my materials to try & tackle that question head on. Feel free to adapt them.
Buckle up - here's a LONG thread🧵about how we can fight back!
First, let's just recap and take in where we are:
Following the latest @IPCC_CH report @UN Secretary General @antonioguterres made clear this was a
🚨"Code Red for humanity"🚨 2/n
Following the latest @IPCC_CH report @UN Secretary General @antonioguterres made clear this was a
🚨"Code Red for humanity"🚨 2/n
The @IPCC_CH report states clearly that we have a "brief and rapidly closing window of opportunity to secure a liveable and sustainable future for all" 3/n
I can’t recommend enough this @WeAreDrilled @amywestervelt podcast exposing the right wing, fossil-fueled corporate push to force Wall Street entities - @blackrock most of all - to keep pouring money into oil, coal & gas. #StopTheMoneyPipeline 👀👇
podcasts.apple.com/us/podcast/dri…
podcasts.apple.com/us/podcast/dri…
In large part, this effort is a reaction to the campaign work @billmckibben and others have inspired: getting wall street’s biggest players, who are financing and therefore causing the climate crisis, to shave down their investments.
That effort is central to @nychange strategy. In order for the world to stave off climate catastrophe, mainstream finance needs to flee gas, oil and coal this decade.
$52.8 billion worth of investment capital just demanded that @Chase stops greenwashing and passes real climate targets.
Thoughts on why this matters: 🧵👇
Thoughts on why this matters: 🧵👇
1/ In 2021, @Chase set 2030 climate targets using a greenwashing trick called “carbon intensity” -- pledging to reduce the “carbon intensity” of the oil & gas firms it finances.
But “carbon intensity” & reductions in “greenhouse gas emissions” are 2 very different things.
But “carbon intensity” & reductions in “greenhouse gas emissions” are 2 very different things.
2/ Imagine you are the CEO of an oil firm. Your company owns 500 oil wells; it doesn’t own any windmills. Chase gives you a $1 billion loan. You use that loan to buy 100 new oil wells and 50 windmills.
You now own 100 additional oil wells, right?
You now own 100 additional oil wells, right?
Today, at the annual meeting of @Chase more than $37.9 billion worth of investment capital demanded that the bank stop funding fossil fuel expansion. 🧵
1/ $37.9 billion saying “No more fossil fuel expansion” to @Chase matters. Here’s why:
JPMorgan Chase is the world’s largest funder of fossil fuel expansion, providing nearly $16 billion to finance new coal, oil & gas operations in 2021.
JPMorgan Chase is the world’s largest funder of fossil fuel expansion, providing nearly $16 billion to finance new coal, oil & gas operations in 2021.
@Chase 2/ Without that funding fossil fuel companies can’t afford to build new tar sands pipelines, fracking wells, or coal plants.
And that matters a whole lot.
And that matters a whole lot.
Today, May 17th, youth organizers with many groups and grassroots organizers are gathering outside @jpmorgan @Chase’s NYC headquarters during their annual general meeting.
#StoptheMoneyPipeline #DefundClimateChaos
@FutureCoalition
#StoptheMoneyPipeline #DefundClimateChaos
@FutureCoalition
🎄🗓️ DAY 1
Here we go Bruce @BNCB of @LloydsofLondon: your first advent scene!
We know how much you ADORE cricket. You're @MCCOfficial Chair after all!
So here’s a miniature🏏pavilion we made especially for you.
Now don't forget to check out the sign...👀🪧
#InsureOurFuture
Here we go Bruce @BNCB of @LloydsofLondon: your first advent scene!
We know how much you ADORE cricket. You're @MCCOfficial Chair after all!
So here’s a miniature🏏pavilion we made especially for you.
Now don't forget to check out the sign...👀🪧
#InsureOurFuture
🎄🗓️ #AdventCalendar: Day 2!❄️
We’ve added beautiful #advent trees for you Bruce @BNCB of @LloydsofLondon.
But how much longer until they’re cut down? 😢
Hey, is that a child up there? We love seeing kids climbing trees! 🌳
And great sign kido!🌎
#InsureOurFuture #StopAdani
We’ve added beautiful #advent trees for you Bruce @BNCB of @LloydsofLondon.
But how much longer until they’re cut down? 😢
Hey, is that a child up there? We love seeing kids climbing trees! 🌳
And great sign kido!🌎
#InsureOurFuture #StopAdani
🎄#AdventCalendar: Day 3!
Look @BNCB of @LloydsofLondon the cricket players have arrived!😀
Best get those matches in while you can:
Cricket is one of the sports most affected by flooding and extreme heat caused by the #ClimateCrisis. 😬
Do it for the 🏏if not for the kids!
Look @BNCB of @LloydsofLondon the cricket players have arrived!😀
Best get those matches in while you can:
Cricket is one of the sports most affected by flooding and extreme heat caused by the #ClimateCrisis. 😬
Do it for the 🏏if not for the kids!
BlackRock continues steps in the right direction, but falls short of the visionary leadership needed: Our response to the letters that @BlackRock CEO Larry Fink issued today to CEOs and clients:
blackrocksbigproblem.com/larrys-letter/
blackrocksbigproblem.com/larrys-letter/
With nearly $9 trillion in managed assets, @BlackRock has the power and responsibility to push for a sustainable future. These letters indicate some steps in the right direction for the financial giant, but fall short of the visionary leadership the world needs right now.
It’s important that the largest financial institution in history is acknowledging the urgent, moral, and financial imperative to address runaway climate change. This is progress from the @BlackRock of 2 years ago...
Ok...I know news about the Federal Reserve isn’t exactly viral twitter content, but this is IMPORTANT.
Under the guise of the Corona-19 bailout, the Fed is pumping *BILLIONS* into the fossil fuel industry.
Here's a 🧵on how your money is fueling the climate crisis.
Under the guise of the Corona-19 bailout, the Fed is pumping *BILLIONS* into the fossil fuel industry.
Here's a 🧵on how your money is fueling the climate crisis.
Today, 69 orgs call on the Fed to end its purchase of fossil fuel debt.
The Fed must stop leveraging public money to purchase debt from the firms exacerbating the climate crisis. #StopTheMoneyPipeline #PeopleNotPolluters priceofoil.org/2020/07/30/fed…
The Fed must stop leveraging public money to purchase debt from the firms exacerbating the climate crisis. #StopTheMoneyPipeline #PeopleNotPolluters priceofoil.org/2020/07/30/fed…
There are some BIG names who signed onto the letter: @LCVoters, @OxfamAmerica, @SierraClub, @sunrisemvmt and more.
Why the interest? Because money fuels the climate crisis and the Fed is setting up one of the biggest money pipelines to fossil fuels.
Why the interest? Because money fuels the climate crisis and the Fed is setting up one of the biggest money pipelines to fossil fuels.
REPORT: #BlackRock is part of a group of financiers keeping EU’s #coal industry on life support, investing €12 B directly, & €9.8 B in loans & underwriting, in under 18 months.
Read more 👉beyond-coal.eu/2020/07/15/foo…
#BLKBigProblem #ClimateCrisis #BeyondCoal #ClimateAction
Read more 👉beyond-coal.eu/2020/07/15/foo…
#BLKBigProblem #ClimateCrisis #BeyondCoal #ClimateAction
#BlackRock is the biggest shareholder of the world’s most significant lignite coal miner, Europe’s biggest CO2 emitter, #RWE ⛏️
AND #BLK is a critical funder of dirty coal in EU.
#BlackRocksBigProblem
Report → beyond-coal.eu/2020/07/15/foo…
#BLKBigProblem #Climate #BeyondCoal
AND #BLK is a critical funder of dirty coal in EU.
#BlackRocksBigProblem
Report → beyond-coal.eu/2020/07/15/foo…
#BLKBigProblem #Climate #BeyondCoal
#BLK's 2020 #coal policy doesn't address these gaps - when will they get serious about #ClimateCrisis?
The @UNFCCC & @IPCC_CH have warned for years that we have to get out of coal, fast, but #BlackRock just keeps pumping $$ into it.
#BLKBigProblem #BeyondCoal #ClimateCrisis
The @UNFCCC & @IPCC_CH have warned for years that we have to get out of coal, fast, but #BlackRock just keeps pumping $$ into it.
#BLKBigProblem #BeyondCoal #ClimateCrisis
Die #EZB pumpt massenhaft Steuergelder in die fossile Energiewirtschaft! Das muss Aufhören! Wir forden:
#StopTheMoneyPipeline!
#RageAgainstECB #ClimateActionNow #FightEveryCrisis #GoFossilFree #Divest #Klimaschutz #SystemChangeNotClimateChange
#StopTheMoneyPipeline!
#RageAgainstECB #ClimateActionNow #FightEveryCrisis #GoFossilFree #Divest #Klimaschutz #SystemChangeNotClimateChange
Mehr Infos gibt es hier: rageagainstecb.noblogs.org
Und hier das passende YouTube Video dazu:
Und hier das passende YouTube Video dazu:
Und hier unser EZB-Thread:
Mnuchin & Trump could announce a plan to bailout Big Oil as early as tomorrow.
In our latest press release, we list 8 reasons why that’s a no good, terrible, messed up idea.
🧵
stopthemoneypipeline.com/mnuchin-big-oi…
#StopTheMoneyPipeline
#NoBigOilBailout
In our latest press release, we list 8 reasons why that’s a no good, terrible, messed up idea.
🧵
stopthemoneypipeline.com/mnuchin-big-oi…
#StopTheMoneyPipeline
#NoBigOilBailout
#1: The Trump Administration still hasn’t delivered for American families:
Nearly 25 million Americans are out of work. The administration needs to spend more time helping people and less time prioritizing the needs of oil company CEOs.
Nearly 25 million Americans are out of work. The administration needs to spend more time helping people and less time prioritizing the needs of oil company CEOs.
#2. Oil companies are in a crisis of their own making:
Oil and gas companies entered the coronavirus crisis over leveraged and saddled with massive debts. The industry’s profitability and share of the economy had already tanked. They got themselves into this mess.
Oil and gas companies entered the coronavirus crisis over leveraged and saddled with massive debts. The industry’s profitability and share of the economy had already tanked. They got themselves into this mess.
It turns out today's been a pretty wild ride for our Twitter handle! 🥳
More seriously & since you're here, we've got *ADVICE*.
Faced w/ #COVID19, governments have a choice: Build resilient societies to prioritize health & safety of #PeopleNotPolluters OR bail out fossil fuels.
More seriously & since you're here, we've got *ADVICE*.
Faced w/ #COVID19, governments have a choice: Build resilient societies to prioritize health & safety of #PeopleNotPolluters OR bail out fossil fuels.
The bottom line: Today, several years of #fracking companies going bankrupt, several decades of coal's decline — these are what an UNMANAGED decline of the fossil fuel industry looks like.
It hurts workers & communities badly, while fossil fuel executives get golden parachutes.
It hurts workers & communities badly, while fossil fuel executives get golden parachutes.
Today's wild ride of oil futures prices is a big deal, but the industry isn't disappearing tomorrow.
Instead, the current madness is driven by a 1-2-3 punch of:
- Demand destruction from #COVID19
- Global price wars
- Structural decline from renewables & decarbonization
Instead, the current madness is driven by a 1-2-3 punch of:
- Demand destruction from #COVID19
- Global price wars
- Structural decline from renewables & decarbonization
Connecticut is the insurance capital of the world. A new report released by a coalition of groups reveals that CT insurers have over $221 billion invested in fossil fuels & continue to underwrite climate-killing fossil fuel projects. bit.ly/ct-reportbit.l…
Says CT State Senator & co-chair of the Insurance Committee @MattLesser "Climate Change will have a massive impact on all aspects of life in Connecticut, including expanding our vulnerability to emerging infectious diseases and pandemics. This report allows us to look at major
New essay by @billmckibben on climate change.
Includes this comment on #GreenNewDeal:
""The wide scope of the proposed Green New Deal may make it sound utopian—but it may be better to think of it as anti-dystopian,
nybooks.com/articles/2020/…
Includes this comment on #GreenNewDeal:
""The wide scope of the proposed Green New Deal may make it sound utopian—but it may be better to think of it as anti-dystopian,
nybooks.com/articles/2020/…
an alternative to the libertarian hyper-individualism that has left us with economically insecure communities whose divisions will be easy for the powerful to exploit on a degrading planet. . . ."
And this on the #StopTheMoneyPipeline campaign against financing fossil fuel dev.:
And this on the #StopTheMoneyPipeline campaign against financing fossil fuel dev.:
"My colleague . . . Tamara Toles O’Laughlin [@Tamaraity] has compared this kind of funding to nineteenth-century support by financial institutions of slavery—it’s not the same crime, of course, but 'the same instinct to abuse and extract, deplete, discard, and disavow holds'.”
Today a big (really big!) group of climate leaders endorsed @ewarren 🌎 It’s exciting to see such a diverse & visionary group #WithWarren & her plans to defeat the climate crisis! She’s the fighter we need to win a #GreenNewDeal & transition to 100% clean energy 1/
@ewarren For decades the fossil fuel industry—one of the most powerful and dangerous special interests in the world—has put profits over the heath of our communities. Take it from climate warrior @david_turnbull when he says @ewarren is up for the fight ahead! 2/
@ewarren @david_turnbull Trust climate scientists like @DrAndreaDutton & @hormiga & @bobkopp & @j_zelikova when they say @ewarren’s climate plans are what we need to defeat the climate crisis 👩🔬 3/
By now you've seen the news: BlackRock made a major climate announcement this week.
But what does it mean?
What's the good, the meh, and the missing for #ClimateAction and our work to #StopTheMoneyPipeline?
We lay out out here -> blackrocksbigproblem.com/post/our-in-de…
& in this🧵1/
But what does it mean?
What's the good, the meh, and the missing for #ClimateAction and our work to #StopTheMoneyPipeline?
We lay out out here -> blackrocksbigproblem.com/post/our-in-de…
& in this🧵1/
tl;dr: It's a major shift for BlackRock, which previously had failed to take meaningful action on climate, and is a very important step in the right direction as the world faces increasing risk from climate change.
And BLK still has to do more cuz we're in a #climatecrisis! 2/
And BLK still has to do more cuz we're in a #climatecrisis! 2/
On to the details.
First announcement: Coal divestment.
BlackRock will move companies with 25% or higher revenue from thermal coal production out of all actively managed funds and all ESG funds.
What we like about this: Coal is dead! It's time BLK got with the program. 3/
First announcement: Coal divestment.
BlackRock will move companies with 25% or higher revenue from thermal coal production out of all actively managed funds and all ESG funds.
What we like about this: Coal is dead! It's time BLK got with the program. 3/
Biggest news in a long time. After a ton of pressure, Blackrock--which owns more fossil fuel stock than anyone on earth--announces it will put 'climate change at the center of its investment strategy.' A huge--if by no means final--win for activists!
nytimes.com/2020/01/14/bus…
nytimes.com/2020/01/14/bus…
Here's the CEO, Larry Fink: “The evidence on climate risk is compelling investors to reassess core assumptions about modern finance.”
They are saying they will sell stock, reshape indexes, and vote for shareholder resolutions. This puts huge pressure on other players
They are saying they will sell stock, reshape indexes, and vote for shareholder resolutions. This puts huge pressure on other players
It also will require huge vigilance--my guess is they'll start with coal. That's no longer good enough: given the timeline of the climate crisis we need to be moving on oil and gas with the same speed.
I'm teaching a new course this term on Film and Environmental History. This week we watched New Deal docs about the Dust Bowl and Mississippi River floods (The Plow and The River) and finished with the animated #GreenNewDeal film narrated by @AOC and posted on @theintercept
Students were fascinated by the ND docs and also enjoyed @mollycrabapple's illustrations and AOC's focus on climate and justice. We discussed science, storytelling, and ecol. crisis--then and now--and contrasted the racial politics of the ND with the GND's more inclusive vision.
The Intercept film (A Message from the Future) is here: theintercept.com/2019/04/17/gre…
Next week's class: Godzilla (!) and the history of radioactive fallout.
Next week's class: Godzilla (!) and the history of radioactive fallout.
