The Arctic and Antarctic are experiencing devastating heat waves
The Arctic and Antarctic are experiencing devastating heat waves
Thursday March 31, 2022

Banks are funding these disasters

As the climate crisis intensifies and frontline communities around the world continue to be hit with the devastating impacts of fires, floods, and disasters, financial institutions have been doubling down their investments in fossil fuel companies.

Banks like the Royal Bank of Canada (RBC) continue to invest in projects like Coastal GasLink – a 670-km fracked gas pipeline that crosses unceded Wet’suwet’en territory in northern British Columbia, Canada.

For years, Wet'suwet'en land and water defenders have been standing against the $6.6 billion fracked gas pipeline, being built through their traditional territory without their consent. The Coastal Gaslink pipeline would violate Indigenous sovereignty, risk the sacred headwaters of the Wedzin Kwa river, and destroy pristine ecosystems.

The imminent dangers of climate change have roamed our minds for over three decades now  – from the destruction of the Amazon, to increasing forest fires, to the melting of polar ice caps. But right now, it’s no longer a murmur but a reality. Currently, both the Arctic and Antarctic are experiencing unprecedented heat waves – a minimum 30°C above normal.

Communities in the Amazon rainforest are experiencing constant oil spills that threaten their livelihoods and cause loss of biodiversity. All of these drivers of climate change are being fueled by global financial institutions.

At this point in time, we simply can’t afford for banks to continue funding fossil fuel projects that harm communities from coast to coast.

That’s why we’re asking you, and the rest of the mighty Stand.earth community, to demand that banks take the climate crisis seriously and divest from fossil fuels.

Challenging billion-dollar companies steeped in the status quo can feel like a daunting task and we knew this work wasn’t going to be easy. But at Stand.earth, we’re used to making the impossible possible. Yes, it’s cliche. We dream big because we know that creating a better future for all means standing with frontline communities and consistently fighting for Indigenous rights and sovereignty. And that to ensure no more pipelines are built and no more forests are burned for energy – we need to stop the money pipeline to fossil fuels and deforestation. It’s all connected.

It’s up to all of us to make this dream a reality. Please take action to protect critical environments.