Thread by @ThierryAaron

So, Jamie Dimon the CEO of @jpmorgan thinks "it is not against #climate [change] for America to boost more oil & gas".

Which could not be more wrong!

Here's a🧵on some science he (& his colleagues in the banking sector) may want to try to pass through their cranium... 1/20

@jpmorgan Firstly, #climate action is incredibly urgent, the @IPCC_CH reports tell us we have a 'rapidly closing window to secure a livable & sustainable future for all!' 2/20

It is "Now or never" if we are to have a chance of meeting the 1.5C climate target agreed at Paris.

As Prof. Jim Skea, Co-Chair of @IPCC_CH WG3 explains, we need "deep emissions reductions across all sectors". Starting NOW! 3/20

theguardian.com/environment/20…

A @UCL team showed that to reach the 1.5C carbon budget 60% of gas & oil mustn't be burnt.

What's this mean for the fossil fuel industry? Even allowing for billions of tonnes of carbon removal, we'd need to leave most of our reserves in the ground 4/20
nature.com/articles/s4158…

As Prof. David Waltham of @RHULEarthSci explains:

"it’s time to stop fossil-fuel exploration & halt the development of all new oil and gas fields.

We cannot safely set fire to all the fuel we’ve already found, so why look for more?" 5/20

theconversation.com/we-should-ban-…

@RHULEarthSci This is not at all scientifically controversial.

In a report commissioned by @AlokSharma_RDG ahead of #COP26, @fbirol, Executive Director of the @IEA, said there "can be no new investment in oil, gas and coal"! 6/20

theguardian.com/environment/20…

The @UNEP Production Gap report (also published ahead of #COP26), tells us the exact same thing.

You can find that report here:
productiongap.org/2021report/

7/20

@UNEP New research by @Global_Witness & @RystadEnergy found that just 20 oil and gas companies look set to invest almost $1,000,000,000,000 (a trillion💲!) in developing NEW oil and gas over the next decade!

Ecocidal !!! 💀8/20

@UNEP @Global_Witness @RystadEnergy These fossil fuel projects are being financed by banks like @jpmorgan.

Already $4.6 Trillion of new investments in fossil fuels since the Paris Climate Agreement! 9/20

https://twitter.com/RAN/status/1509020100145422336

Here are the 12 worst offenders.

You'll see @jpmorgan tops the lot! 8/n

@jpmorgan The world renowned climate economist Lord Stern warned (over 15yrs ago!🤦‍♂️) that climate change was the "greatest market failure" the world has ever seen.

But banks like @jpmorgan are blindly ignoring these enormous risks (🙈🙉🙊) & continue to pour fuel on the fire! 🔥 10/20

By continuing to invest in fossil fuels the banks are inflating a financial 'carbon bubble' that threatens to tank the economy - if it doesn't pop, it tanks the planet! 11/20

carbontracker.org/reports/carbon…

As @antonioguterres the @UN Secretary General stresses "Investing in new fossil fuels infrastructure is moral and economic madness".

This is a terrible misuse of financial resources! 12/20

press.un.org/en/2022/sgsm21…

So desperate have scientists become to stop these ecocidal loans, that are financing death & destruction around the planet, that they are now joining climate activists in protests against banks like @jpmorgan @Chase... 13/20

https://twitter.com/ajplus/status/1515610767080534016

Here's NASA climate scientist Dr. Peter Kalmus explaining why he took part in one such protest… 14/20

https://twitter.com/ClimateHuman/status/1512237576857407490

Doctors have also felt compelled to risk arrest to protect their patients by taking part in civil disobedience, so as to draw attention to @jpmorgan's immoral banking practices… 15/20

https://twitter.com/DoctorsXr/status/1548616050266316800

These protests are part of a much wider movement of resistance against the power of fossil capital that is rising around the globe to force banks to @StopMoneyPipe to oil & gas, in protection of life on earth 🌍

From branch occupations... 16/20

https://twitter.com/billmckibben/status/1215705309206974464

....to sub-vertising... 17/20

vice.com/en/article/z3x…

... to disruption of shareholder meetings, speaking truth to power ... 18/20

…to courageous acts of civil disobedience by people from all walks of life, who have heard and understood the scientific warnings & are trying to protect their loved ones futures 19/20

https://twitter.com/joaodanielper/status/1379711820768890880

These movements will continue to grow & adopt new tactics until these banks get it through their thick skulls that it is not an investment if it is killing the planet💀!

Are you a banker reading this? What are you going to do about it?

DMs open.

/end