TAKE ACTION FOR HUMAN RIGHTS

TELL BANKS: STOP FUNDING THE CLIMATE CRISIS

Four of the five top financial institutions perpetuating the climate crisis are U.S. banks — J.P. Morgan Chase, Wells Fargo, Bank of America, and CitiBank — and J.P. Morgan is the worst offender. That’s unacceptable.

Banks are playing a major role in fueling the climate crisis, contributing to mass human rights violations by funding fossil fuels and deforestation. Climate change is not only the greatest environmental emergency of our time, it’s also an unprecedented human rights crisis — and billions of people are at immediate risk.

Act Now: Call on these banks to STOP funding the climate crisis. Unless we ramp up the pressure, they won’t end their complicity.

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JP Morgan

Jamie

Dimon

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Jane Fraiser

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CITI Bank

Brian Moynihan

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Bank of America

Charles Scharf

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wellsfargo

To whom it may concern:

Amnesty International USA, the U.S. office of the global, non-partisan, human rights organization with over 10 million supporters around the world, urges you to ensure that your respective banks – Bank of America, J.P. Morgan Chase, CitiBank, and Wells Fargo – stop financing fossil fuels and deforestation.

Climate change is not only the greatest environmental emergency of our time, it is also an unprecedented human rights crisis. It threatens a wide range of human rights, including the rights to water, to health, and to life itself.

Amnesty International has documented these human rights threats around the world, illustrating the global impact of climate change on human rights.

The Intergovernmental Panel on Climate Change (IPCC) has stated that global greenhouse gasses (GHG) emissions need to be halved by 2030 and then effectively reduced to zero by 2050 compared to 2010 levels to limit the increase of the global average temperature to 1.5°C. This means that there should be no expansion of fossil fuel exploration or extraction, and existing projects phased out. The IPCC also stresses that conservation and restoration of forests is an essential climate mitigation strategy to limit global heating to below 1.5°C.

Financial institutions, including your bank, play a key role in driving the climate crisis, especially when providing loans and other financial services to fossil fuel companies and businesses linked to deforestation.

The United Nations Guiding Principles on Business and Human Rights establish the independent responsibility of businesses to respect human rights. This requires businesses to “avoid causing or contributing to adverse human rights impacts through their own activities, and address such impacts when they occur” and also to “seek to prevent or mitigate adverse human rights impacts that are directly linked to their operations, products or services by their business relationships, even if they have not contributed to those impacts.”

The human rights responsibilities of corporations, including private financial institutions, extend to identifying, preventing, mitigating and accounting for potential and actual human rights harms resulting from their contribution to climate change. Such responsibilities apply even in the absence of clear domestic regulation on climate change.

To help avert the climate crisis and to help respect, protect and fulfill human rights, we are calling on you to:

- Immediately stop financing and investing in new projects, activities and industries that drive fossil fuel expansion and deforestation.

- Phase out current investments and funding on a timeline aligned with the 1.5°C imperative, ensuring that funding and investments for the most polluting fossil fuels and forms of production, such as coal, peat, fracking and tar sands are phased out as soon as responsibly possible, or by 2030 at the latest in wealthy industrialized countries and, by 2040 in all other countries.

- Do not fund any energy project or other project that is opposed by Indigenous Peoples and for which they did not give their free, prior and informed consent, and phase out existing funding for any such projects, including pipelines.

- Implement human rights and environmental due diligence, in order to identify, prevent, reduce and account for GHG emissions, throughout your global operations.

- Ensure a human rights-consistent “just transition” for workers who may lose their jobs as a result of the shift to a zero-carbon economy.

- Refrain from lobbying governments directly or indirectly through trade associations for policies and decisions that perpetuate the carbon-based economy.

- And refrain from supporting public information campaigns based on inaccurate, misleading and unfounded assertions which make it more difficult for the public to access accurate information and make informed decisions.

We look forward to your response.

Sincerely,

{user_data~First Name} {user_data~Last Name}

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