Why the Climate Movement's Next Big Target Is Wall Street (only 11.04 years left)

Gizmodo via MSN ^ | 1/14/20 | Dharna Noor

[Libloather]

Climate activists are taking on a new pipeline: The one that funnels money from Wall Street into planetary destruction.

A coalition of climate, environmental, youth, and indigenous organizations unveiled Stop the Money Pipeline, a campaign to “pressure banks, insurance companies and asset managers to stop financing fossil fuels and deforestation and start respecting human rights and Indigenous sovereignty,” late last week.

Banks, asset managers, and insurance companies may seem like less obvious targets than going directly after, say, oil and gas companies or the Trump administration. But Wall Street plays an essential role in the fossil fuel industry’s expansion. Staunching the flow of money could be an effective way to prevent more oil, gas, and coal from being dug up, which is exactly what has to happen (and then some) to avoid catastrophic climate change.

Though many banking institutions have branded themselves as green, the world’s top 33 largest banks collectively provided $1.9 trillion in financing for coal, oil, and gas companies since countries put forth the Paris Climate Agreement in 2015.

[Libloather]

“So what we’re doing now is sort of taking this to the next level and going to the banks and insurance [companies] and the asset managers themselves,” said Henn, “to demand that they take action... against all fossil fuels.”

Finishing off capitalism through extortion. Do socialists usually put up with this?

[central_va]

The socs’s own Madison Ave. so why not Wall St.?

[rightwingcrazy]

“Why the Climate Movement’s Next Big Target Is Wall Street”

Because that’s where the money is.

[rb22982]

Going after portfolio managers won’t be very successful since most inflow into the equities markets are done through passive index/ETFs these days. Good luck going after every bank and insurance company in the world. And if they want XOM to yield more than 5%, then individual investors will step in anyway.

[HighSierra5]

Rust never sleeps. Termites keep eating wood. Commies work day and night to tear down everything that’s good. The precious metals are immune to rust but they try and succeed and steal that too. They are the incarnation of evil on this planet. Lord help us all.

[_longranger81]

As long as you can promise me that when “we’re all dead” in 11.4 years I won’t have to listen to these turdpiles yammering, I’m good.

[beef]

“Good luck going after every bank and insurance company in the world.”

Have you ever heard of SHAC? They were an animal rights group targeting a company involved with animal testing. They targeted anybody involved in any way with the company. They sent stock brokers who specialized in the stock threatening notes with pictures of their kids going to school. They did they same thing to the people who cleaned their offices. They were finally taken down by RICO, but they pioneered a lot of the tactics used by SJWs today. SHAC operated before social media. I think today they can do a pretty good job on a large scale, and they are motivated to do it. Just watch to James O’Keefe’s latest videos.

[rb22982]

You have any idea how many banks there are in the world? Sure they could target the big banks but there are 10s of thousands of banks worldwide, and who knows how many individuals working for them.

[dp0622]

Yeah there’s Too Much direct correlation to profits here for any large bank to listen to this nonsense.

This isn’t like getting some wuss sports store chain to take down guns.

Investment banks (which gave me a very good living but play brutally) won’t fold so easily.

[beef]

Social media is a very powerful organizing force. To service the needs of the petroleum industry, a small bank would have to become big, and SJWS could knock them down as they pop up. Normally, wide scale action like this would get scrutiny by the media and the law. But today, you can count on the legacy media to other way, and an SJW government to lend them a hand. I think PDJT is the only that stands between us and that kind of world. Look up Operation Chokepoint to see just what the government can do to harass legally operating industries it does not like.

[Svartalfiar]

I don't understand why the big oil companies would need banks so bad. At the sheer volume of product they process and sell, they should easily be able to put a couple billion in a savings account in their own company bank, which is plenty to cover most of the exploratory and research work they do. They shouldn't need to depend on banks ignoring the idiots in order to operate their business.

Really, I don't see why so many companies in general are always in debt, but I guess it kinda works for them.

[ronnie raygun]

John cusack has introduced probably un beknownst to him or on purpose, the new narrative, CLIMATE CAPITOLISM Im sure this will be a lable that will be used when they attack wallstreet