Thread by @StopMoneyPipe

Today, at the annual meeting of @Chase more than $37.9 billion worth of investment capital demanded that the bank stop funding fossil fuel expansion. 🧵

1/ $37.9 billion saying “No more fossil fuel expansion” to @Chase matters. Here’s why:

JPMorgan Chase is the world’s largest funder of fossil fuel expansion, providing nearly $16 billion to finance new coal, oil & gas operations in 2021.

@Chase 2/ Without that funding fossil fuel companies can’t afford to build new tar sands pipelines, fracking wells, or coal plants.

And that matters a whole lot.

3/ Every major climate science organization & expert, from the @IPCC_CH to the @IEA & beyond has made it absolutely clear:

We must stop building new fossil fuel infrastructure if we are to have even a fighting chance of limiting global warming to 1.5°C

4/ Or, as the head of the United Nations, @antonioguterres, recently put it: "Investing in new fossil fuel infrastructure is moral and economic madness."

5/ Unfortunately, it’s clear that @Chase doesn’t give a shit about climate science, people, or the planet. All it cares about are its profits.

What it does care about though are its investors, the people who literally own it.

That’s why today’s vote is so important.

@Chase 6/ And yes, the resolution only received 10.9% of the vote & the media will no doubt report on this as a defeat for those who care about life on earth.

But shareholder votes are not election votes. It’s not 51% you win; 49% you lose.

7/ $37.9 billion worth of investment capital just demanded that Chase stop funding fossil fuel expansion.

When that much money talks, companies start to listen.

#DefundClimateChaos

8/ Now, it’s up to all of us ― through direct action protests, talking to local branch managers, & organizing our friends & community ― to make sure that @Chase has no choice but to keep on listening.

#StopTheMoneyPipeline