We are fed-up with big banks fueling deadly environmental racism and the climate crisis. It's time to divest from extractive industries like fossil fuels.
February 20, 2025
The six biggest U.S. banks—Goldman Sachs, Wells Fargo, Citigroup, Bank of America, and Morgan Stanley—just withdrew from the Net-Zero Banking Alliance (NZBA), an important global effort aimed at aligning the financial sector with the goals of the Paris Climate Agreement and achieving net-zero greenhouse gas emissions by 2050.
2024 was the hottest year on record, and 2025 is starting with a bang, as wildfires erase communities in California. The climate crisis is here―and it is being made worse every day by irresponsible investments by big banks. We cannot afford to go backward!
With a new Presidential administration that believes the climate crisis is a hoax, we know our communities can’t count on politicians to protect our health and environment. Regulations can only do so much―we need to shut down the funding for new fossil fuel projects. Citigroup alone has spent $333 billion into the fossil fuel industry since 2016.
It’s time for banks and investors to stop caving to climate denying politicians, and divest from fossil fuels.
At Hip Hop Caucus, we understand that voting is one of the most critical ways to exercise our power, and racial justice is at the heart of our drive to empower voters. We stand for communities who are marginalized, and we stand for the health of our planet. Explore more of our work today.
