On Monday, May 16, the Society of Fearless Grandmothers staged a protest in Santa Barbara at Chase Bank on upper State St. Wrangling giant posters with the slogan “Defund Climate Chaos,” the Grandmothers joined other groups across the country to highlight Chase’s role in funding fossil fuel projects.
According to Rainforest Action Network, “Since 2016, 35 banks have poured $2.7 trillion into fossil fuels and dirty energy,” and “Chase is the world’s worst banker of climate chaos by FAR. Chase has dumped over a quarter TRILLION dollars into fossil fuels in the last four years alone, continuing to fuel the flames of climate destruction.”
ThirdAct, an organization designed for elders who want to to take action to end the climate crisis, says, “While young people have clearly been leading the climate fight, they have limited power with big financial institutions. That’s because seventy percent of the country’s financial assets belong to Baby Boomers and the Silent Generation, compared to about five percent for millennials.”
Fearless Grandmothers in Santa Barbara have taken a pledge to put pressure on the banks to stop funding fossil fuel projects. If banks don’t listen, the banks face loosing customers in a mass action later this year or early next year, as seniors close their accounts and move their money to credit unions or banks that don’t fund fossil fuels. To join Third Act’s effort, sign up here.