Jackson Hole, WY — Activists last night confronted U.S. Federal Reserve Chair Jerome Powell at the Jackson Lake Lodge. Powell was given a clear message, which was recorded on video and shared on twitter, that the Fed must end Fossil Fuel Finance.
Since the Paris Agreement, the world’s 60 biggest banks have financed fossil fuels to the tune of $4.6 trillion. US banks are the top fossil fuel funders. With President Biden recently signing historic climate legislation, momentum is on our side. Climate organizations are now insisting on action from our government’s key financial institutions to stop investments in fossil fuels
As global financial decision-makers, including Federal Reserve officials, gather for this year’s Economic Policy Symposium, communities are bringing a clear demand ahead of November’s COP27 in Egypt, fossil fuel finance must come to an end.
Leaders with 350.org, 350 Colorado, Wyoming Chapter – Sierra Club and Jackson Hole Sunrise are holding vibrant Climate Actions which will take place on Thursday to Saturday, August 25-27, 2022:
August 25 — Main Action Day
- 12:00-4pm: Activists and RV with climate signage will stand at Jackson Airport turnoff and along the highway leading to Jackson Lodge holding signs, demanding a Fossil Free Fed
- 2pm: Sunrise Jackson Hole will host a group of bikers to convene at Jackson Lodge
- Bikers will leave from Moran entrance of the park – meeting at Pacific Creek Boat Launch at 2pm and biking 4 mile route to Jackson Lake Lodge to join the 4pm rally and press conference
- 4-6pm: Rally and peaceful protest at Jackson Lodge
- 4:30pm: Press Conference, Jackson Hole Lodge – speakers include:
- Emily Park, Federal Reserve Campaign Manager, 350.org
- Tee McClenty, Director, 350 Minnesota – speaking on Line 3 resistance and connection to economic policies
- Lynette Grey Bull, Not Our Native Daughters
- Giselle Herzfeld, 350 Colorado, Defunding Climate Disaster Coordinator
Speakers and concerned community members will be calling on the Federal Reserve to:
- End fossil fuel finance through the banks & phase out all fossil fuel financing by 2030. The Fed should use existing regulatory and supervisory tools to begin limiting and phasing down the financing of emissions through curbing bank lending to fossil fuel infrastructure and projects.
- Align Fed spending and asset purchases with the Paris Climate Agreement’s goal of limiting temperature rise to 1.5°C; The Fed should encourage and support bank investment aimed at limiting global temperature rise to 1.5°C, with an emphasis on lending to low-income communities and communities of color.
Climate action is especially crucial in the lead up to the global COP27 Climate Summit in Egypt in November 2022, and urgent action is needed in the US to push the Federal Reserve to do what they said they would do: account for climate risk.
This years climate actions build on those from last year, when, Kai Jones and Zahan Billimoria with Protect Our Winters, together with 350.org, executed a 60-foot “Stop The Money Pipeline” banner drop at the peak of the Teewinot Mountain, around where the Symposium is historically held.
Spokespeople quotes and bios
Emily Park, Federal Reserve Campaign Manager, 350.org
Quote:
“I’m so excited to go to Jackson Hole to bring our demands to the people who have the power to end fossil fuel financing and protect the US economy from the climate crisis,” said Emily Park, Federal Reserve Campaign Manager of 350.org. “We’ll be right by two of the US’ most iconic national parks, whose snowy mountaintops are already impacted by warmer temperatures. U.S. national parks are often called ‘America’s Best Idea’… now it’s time to make an end to fossil fuel financing, our NEXT great idea!”
Bio:
Emily Park is based in Madison, WI and splits her time between 350 US’ Fossil Free Federal Reserve campaign and 350 Wisconsin. She has been an organizer for the Fossil Free Fed campaign’s two mass mobilizations, in addition to being involved in various other fossil fuel finance campaigns.
Giselle Herzfeld, Defunding Climate Disaster Coordinator, 350.org Colorado
Quote:
“Here in the U.S. and across the world, communities are being disrupted by unprecedented climate impacts. From droughts and wildfires to floods and hurricanes, the future is looking increasingly bleak if we do not rapidly end fossil fuel financing and invest in climate solutions. The Federal Reserve is supposed to account for risks to the U.S. economy; yet, they have continued to allow banks to finance the drivers of climate catastrophe. The time is now for the Federal Reserve to account for climate risk, end fossil fuel financing, and support sustainable solutions!”
Bio:
Giselle Herzfeld is the Defunding Climate Disaster Campaign Coordinator for 350 Colorado, and a lead organizer on the Jackson Hole Economic Symposium Action. For years, she has worked as a youth organizer to pull funding out of the drivers of the climate crisis, and put it towards climate solutions.
Micah Parkin, Executive Director, 350.org Colorado
Quote:
“People across the mountain west are coming together for the Federal Reserve’s Economic Forum to call on our central bank and other leaders across our Nation and globe to take immediate action and enact the needed policies to transition funding from investments in fossil fuels to investing in a clean renewable energy future,” said 350 Colorado Executive Director Micah Parkin. “Wildfires, droughts, extreme temperatures and other impacts of the climate crisis are already devastating people across our region and the world, so the time is now to stop fueling the crisis and instead invest in solutions.”
Bio:
Micah Parkin is the Executive Director of 350 Colorado and a founding board member of 350 Colorado Action, Community Fruit Rescue, as well as Colorado Rising and Safe & Healthy Colorado. She is a spokesperson for Colorado Coalition for a Livable Climate, and was recognized in 2017 as a “City of Boulder Hometown Hero.”
Tee McClenty, Executive Director, MN350
Quote:
“As climate impacts devastate our communities, the Federal Reserve must make it clear that they are no longer investing in the culprits of climate chaos. We need to end fossil fuel finance through the banks, with the Fed supporting bank investments aimed at limiting global temperature rise to 1.5°C. Our banks should not be financing harmful fossil fuel projects. It is time for a reinvisioned role within our economy – and one that accounts for climate risk and protects communities.”
Bio: Tee McClenty is the Director of MN350, having dedicated her life to ensuring that all communities have all the resources available to them. She has worked more than 18 years in emergency medicine, seeing first-hand the impact of climate on people’s health. She attended college to obtain a nursing degree and received a mini-MBA at St. Thomas University and is a certified project manager. She has also worked in labor unions from a rank-and-file member to a chief-negotiator and EVP, advocating with school workers and health care union sisters and brothers for improved working conditions.