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HOW BIG BANKS FUEL THE CLIMATE CRISIS

July 14, 2020

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Speakers

Ben Cushing, Sierra Club
Alison Kirsch, Rainforest Action Network
Ernst-Jan Kuiper, BankTrack
Dallas Goldtooth, Indigenous Environmental Network
Rachel Heaton, Mazaska Talks

Hosted by:

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Talk with us!

← Right now: put your name and location in the chat!

← Use the Q&A box throughout to ask questions.

Keep an eye out for polls throughout the webinar!

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FINANCING

Banks provide loans to fossil fuel companies, and underwrite their bond and share issuances.

INVESTMENT

Through their asset management arms, banks invest their clients’ money in fossil fuel companies.

SERVICES

Banks help fossil fuel companies merge, and advise them on how to structure deals.

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FINANCING

Banks provide loans to fossil fuel companies, and underwrite their bond and share issuances.

INVESTMENT

Through their asset management arms, banks invest their clients’ money in fossil fuel companies.

SERVICES

Banks help fossil fuel companies merge, and advise them on how to structure deals.

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Endorsed by 250+ organizations from 45 countries.�

ran.org/report

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Bank Scope: 35 global banks

U.S. (6)	Canada (5)	Europe (17)		Japan (3)	China (4)
Bank of America Citi Goldman Sachs JPMorgan Chase Morgan Stanley Wells Fargo	Bank of Montreal CIBC RBC Scotiabank TD	Barclays BBVA BNP Paribas Commerzbank Crédit Agricole Credit Suisse Deutsche Bank HSBC ING	Intesa Sanpaolo Natixis RBS Santander Société Générale Standard Chartered UBS UniCredit	Mizuho MUFG SMBC Group	Agricultural Bank of China Bank of China China Construction Bank ICBC

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We tally up bank financing for:

The fossil fuel sector as a whole

More than 2,100 companies in coal, oil and gas, across every stage of the life cycle

100 top companies most aggressively expanding fossil fuels

75 oil and gas companies, 25 coal companies

30-40 companies in each of 7 fossil fuel subsectors

Tar sands oil, Arctic oil and gas, offshore oil and gas, fracked oil and gas,

LNG, coal mining, coal power

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Key Findings: All Fossil Fuels

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Key Findings: All Fossil Fuels

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Our Demands

Banks must align their businesses with a world in which climate change is limited to 1.5°C, and human rights are fully respected.

Stop funding fossil fuel expansion
Commit to phase out fossil finance
Stop financing projects and companies that abuse human rights, especially Indigenous rights

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Get Involved

Petition: Tell JPMorgan Chase to #DefundFossilFuels ran.org/climateaction
Toolkit: Join the campaign! bit.ly/chase-toolkit

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Key Findings: All Fossil Fuels

Top four fossil banks are all U.S-based.
30% of fossil financing since Paris ($811B)
BofA: biggest increase in fossil fuel financing from 2018-9 ($13.1B)
Top four on track for 83% increase over 2016 levels by 2030

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Key Findings: All Fossil Fuels

5th worst fossil bank:

RBC - Worst in Canada by 36% (over TD)

6th: MUFG - Worst in Japan by 15% (over Mizuho)

7th: Barclays - Worst in Europe by 37% (over HSBC)

13th: BNP Paribas- Worst in France by 56% (over Société Générale)

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Spotlight Fossil Fuel Subsectors

→ Bank financing for top 30-40 companies in each subsector

(Like Enbridge, Gazprom, Peabody)

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Subsector Top Bankers & Total Financing (From all 35 Banks, 2016-19)


	Fossil fuel expansion	Tar sands oil	Arctic oil & gas	Offshore oil & gas	Fracked oil & gas	LNG	Coal mining	Coal power
1	JPMorgan Chase	TD	JPMorgan Chase	JPMorgan Chase	JPMorgan Chase	Morgan Stanley	China Construction Bank	ICBC
2	Citi	RBC	Citi	Citi	Wells Fargo	JPMorgan Chase	Bank of China	Bank of China
3	Bank of America	JPMorgan Chase	Deutsche Bank	BNP Paribas	Bank of America	SMBC	ICBC	China Construction Bank
4	Wells Fargo	CIBC	MUFG	Bank of America	Citi	Mizuho	Agricultural Bank of China	Agricultural Bank of China
5	TD	Bank of Montreal	Unicredit	HSBC	Barclays	Citi	Credit Suisse	Citi
	$975 B (100 oil, gas & coal extraction & infrastructure companies)	$102 B (30 extractors + 5 pipeline companies)	$23 B (30 companies)	$188 B (30 companies)	$296 B (30 drillers + 10 pipeline companies)	$76 B (30 companies)	$54 B (30 companies)	$139 B (30 companies)

KEY	U.S.	Canada	Japan	China	Europe

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Subsector Top Bankers & Total Financing (From all 35 Banks, 2016-19)


	Fossil fuel expansion	Tar sands oil	Arctic oil & gas	Offshore oil & gas	Fracked oil & gas	LNG	Coal mining	Coal power
1	JPMorgan Chase	TD	JPMorgan Chase	JPMorgan Chase	JPMorgan Chase	Morgan Stanley	China Construction Bank	ICBC
2	Citi	RBC	Citi	Citi	Wells Fargo	JPMorgan Chase	Bank of China	Bank of China
3	Bank of America	JPMorgan Chase	Deutsche Bank	BNP Paribas	Bank of America	SMBC	ICBC	China Construction Bank
4	Wells Fargo	CIBC	MUFG	Bank of America	Citi	Mizuho	Agricultural Bank of China	Agricultural Bank of China
5	TD	Bank of Montreal	Unicredit	HSBC	Barclays	Citi	Credit Suisse	Citi
	$975 B (100 oil, gas & coal extraction & infrastructure companies)	$102 B (30 extractors + 5 pipeline companies)	$23 B (30 companies)	$188 B (30 companies)	$296 B (30 drillers + 10 pipeline companies)	$76 B (30 companies)	$54 B (30 companies)	$139 B (30 companies)

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Key Findings: Bank policies

Points based on:�

Restrictions on fossil expansion and
Commitments to phase out and/or exclude fossil companies

80 possible points for coal
120 possible points for oil and gas

Top 21 banks shown at left

TOTAL POLICY SCORE (OUT OF 200)

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Key Findings: Bank policies

200 points

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Ways to get involved

www.ienearth.org Indigenous Environmental Network on FB

www.ourarcticrefuge.org Gwich’in Steering Committee on FB

www.IndigenousClimateAction.com ICA on FB

Follow: Indigenous Rising Media on IG and FB

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Ways to get involved

www.lastrealindians.com Last Real Indians on FB

www.MazaskaTalks.org Mazaska Talks on FB

www.350Seattle.org 350 Seattle on FB

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Questions?

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Coming up in part 2

Best practice bank policies
Pulling back the curtain on bank greenwashing

and…

Join us: July 30 at 9am PDT / noon EDT / 6pm CEST.

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Coming up in part 2

Best practice bank policies
Pulling back the curtain on bank greenwashing

and…

Whatever YOU want to hear more about. Let’s take a poll!

Join us: July 30 at 9am PDT / noon EDT / 6pm CEST.

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Get involved & take action!

Tell JPMorgan Chase to #DefundFossilFuels: ran.org/climateaction
Join the JPMorgan Chase campaign: bit.ly/chase-toolkit
Tell Bank of America not to fund Arctic drilling: sc.org/arcticbofa
Move your money & your city’s money from bad banks: mazaskatalks.org
Support the Indigenous Environmental Network: ienearth.org
The latest policy scores of the BOCC 2020 banks: banktrack.org
Info about hundreds of case studies and their financiers: banktrack.org
Last Real Indians: www.lastrealindians.com
350 Seattle: www.350Seattle.org
Follow Last Real Indians, Mazaska Talks, and 350 Seattle on Facebook!