Divestment: the act of investing in climate solutions and selling stakes in non renewable sources.
Divesting FROM BANKS, Bank Accounts, Credit Cards, Asset Managers, phone providers etc
Large Fossil Funding Banks include: JP Morgan Chase (in 2020 did $51.3 billion fossil fuel funding) Citi (in 2020 did $48.4 billion FF funding) Bank of America (in 2020 $42.1 billion FF funding) Liberty Mutual
Fidelity is a large asset manager
Divestment Demands of Banks End financing for Fossil Fuels;
end financial services for any project or company engaged in expanding extraction, production or transportation of Fossil Fuels
End financial services involved in Deforestation:
no investment in any company involved in natural land conversion
no investment in peatland destruction across supply chains
End public monies for corporations engaged in FF and Deforestation Invest in Black, Brown and Indigenous communities, promoting a just transition for workers in the FF sector Hold all firms accoutnable to respect Tribal nations treaties and sovereignty rights. Pass strong climate legislation for Regenerative Agriculture and elimination of CAFO monopolies Declare a climate emergency on NYS and National level
Socially Conscious Banks, Credit Cards Companies and Investments:
Aspiration Bank- uses your money to plant trees, offset carbon emissions and donate to charities. Amalgamated bank-especially supports nonprofits led by people of color Ando Money Atmos Financial Banke Purely Beneficial State Bank City First Bank Clean Energy Credit Union Climate First Bank First Green Bank Mascoma Bank Quontic Bank Southern Bancorp Spring Bank Sunrise Bank
A separate source lists current ethical accounts in 2022 as: Triodos Bank Nationwide Cumberland Building Society Engage Starling Bank Reliance Bank
Socially Responsible Credit Cards: Green America Rewards Platinum Visa Amazon Watch Rewards Platinum Visa Amalgamated Bank Maximum Rewards Mastercard
Sustainable Investment and Retirement Funds you can try Fossil Free Fund as a search platform that allows you to find out whether your money is being used for fossil fuel extraction and consumption. They thoroughly analyze the climate impact of US mutual funds and ETF's and show you which companies are investing your money in fossil fuels.
Aspiration Redwood Fund ensures invest will be fossil free, socially responsible and only invest in sustainable businesses.
BankBlackUSA offers a list of Black owned banks
Credit Unions do not invest your money and provide low interest CD's and savings accounts are not for profit, they are not banks youre a member, not a customer, part of the original sharing economy idea they are local, committed to financial education
read about universities and some corporations who are divesting
research phone providers who invest in Fossil Fuels
Nation’s Largest Higher Education Union Pushes TIAA to Divest from Fossil Fuels and Deforestation The largest higher education union in the U.S., the United University Professions (UUP), passed a resolution on January 23rd pressing TIAA to divest from fossil fuels and deforestation-risk investments, which worsen climate change.
Divest from Fossil Fuels. www.gelf.org On December 9, 2020, the NYS Comptroller, after an eight-year campaign by 350NYC and DivestNY, agreed to divest the $230 billion state pension fund from the riskiest fossil fuels and to decarbonize the entire fund by 2040. NYC officials had made a similar announcement three years previously. (See media coverage.) 100 state legislators had signed on as co-sponsors to the divestment legislation before DiNapoli made his announcement. The failure to divest over the last decade had cost the state more than $22 billion in lost value has fossil fuels have been the worst performing sector on Wall Street. The fund had held over $12 billion in fossil fuels, including more than $1 billion invested in ExxonMobil alone. DivestNY had pointed out that it was morally wrong for the state to seek to profit from the burning fossil fuels which threatens the future of life on the planet. DivestNY Teachers is focusing on the New York State Teachers’ Retirement System (NYSTRS), which has an estimated $4.5 billion invested in climate destroying fossil fuels with over $500,000,000 invested in Exxon Mobil alone. Stop the Money Pipeline is a similar campaign to stop the financial sector (banks, insurance companies, assets managers) from funding, insuring and investing in the climate crisis. For instance, JP Morgan Chase is the world’s top banker of fossil fuels, providing $196 billion in funding to fossil fuel companies since 2016.