Seniors organize National Day of Action Against Dirty Banks on 3.21.23 to tell banks to “stop funding fossil fuels”
WHAT: On March 21, Third Act Sacramento is joining with others to pressure the major banks to stop funding fossil fuels projects. The action in Sacramento is one of over 85 events taking place across the country to protect our climate and ensure a livable future. Third Act is a national organization of elders over 60 years old. Third Act Sacramento is a local working group.
WHEN: 11:30 am to 1:30 pm on March 21, 2023.
WHERE: Capitol Mall, Sacramento. Starting at the traffic circle at 10th Street and Capitol Mall at 11:30, we will march to Wells Fargo Center at 400 Capitol Mall for songs, speeches, a ceremonial cutting of credit cards with 8 ft scissors cutting a giant card, and delivery of 17,000 bank customer pledges to withdraw funds. From there, we will return to West Capitol steps for photos, and on to the Rose Garden in the Capitol Park at L and 15th for a Staying Alive Flash Mob, a silent die-in, giant puppets, community conversations and more.
WHO: Featured speakers include former mayor and Third Act Sacramento co-founder Heather Fargo, and members of Third Act Sacramento, 350 Sacramento, Fridays for Future, and Extinction Rebellion Sacramento. Other groups sponsoring this event include the Sacramento Climate Coalition and Third Act Central.
MEDIA CONTACTS:
Luke Wilson: (916) 457-1913
Richard Groh: (415) 717-9017
BACKGROUND:
The National Day of Action Against Dirty Banks is organized by Third Act to stop the big banks from funding fossil fuels projects. The goal is to pressure the banks to stop funding climate chaos.
The top four banks propping up the fossil fuel industry are JP Morgan Chase, Citibank, Bank of America and Wells Fargo. These four banks have pumped more than $1 trillion into fossil fuel financing since the Paris Agreement was signed in 2015 to cut greenhouse gas emissions. And all of these banks are continuing to fund the fossil fuel industry.
This Event is being held because excess greenhouse gases are warming the planet and threatening our communities, ecosystems, and financial interests. Extreme weather, such as atmospheric rivers, droughts, and heat waves, along with wildfires have become commonplace and will continue to intensify until greenhouse gas emissions are reduced dramatically. No place is safe. This is truly a global emergency that requires action at all levels—individual, local, national, international—to ensure the earth remains habitable.
Most people are surprised when they find out their bank account could be the largest part of their carbon footprint. Third Act Sacramento estimates that a Californian’s average bank balance of $62,500, when loaned to the fossil fuel industry, produces more carbon than an individual will produce in six months from daily driving, cooking, heating, and flying.
Third Act is organizing bank customers to close their accounts and cut up their credit cards to show that they will not be complicit in the destruction of our precious earth. And customer divestment will put pressure on the banks to stop funding the fossil fuel industry.
Third Act has already counted as many as 2,800 Californians and 17,000 bank clients nationally who have pledged to move their bank accounts to climate friendly financial institutions.
“I had no idea that my money was being loaned to companies to generate more fossil fuels," said Luke Wilson, a member of Third Act Sacramento. “I try to do what I can to reduce emissions." Wilson added. "Surely these banks can find alternatives and lend to environmentally aware businesses.”
Diana Cassady, a local Third Act member, said she has met with local bank managers, who often acknowledge the difficulty of living in a hotter climate. "They agree," she said. "It’s hard to forget how Sacramento broke records with more than 40 days over 100 degrees last year."
Third Act is coordinating its multigenerational demonstrations on March 21 with a national coalition of climate, environmental and social justice groups—including the Sierra Club, Stop the Money Pipeline, Fridays for Future, and Extinction Rebellion—totalling more than 50 organizations.
Third Act is a volunteer organization of mostly people who are retired and over 60-years old. The group was started a year ago for those called to their “third act"—after their student and working lives—who have time and expertise to build a movement to promote a safe climate for future generations. Nationally there are approximately 30,000 members and the Sacramento chapter has more than 400 members.
Additional Facts about the funding of oil companies by these top 4 banks can be obtained from a 2022 study by the Rainforest Action Network: https://www.ran.org/wp-content/uploads/2022/03/BOCC_2022_vSPREAD-1.pdf