Bank Fwd

A network of banking clients persuading their banks to phase out financing for fossil fuels and lead on climate. Retweets ≠ endorsements.

[Bank Fwd @bank_fwd]

“Money is not neutral.” Even when you’re not actively investing it. We too often ignore that our cash doesn’t sit idly when we’re not using it. Our banks invest, loan & underwrite activities in the real world using our deposits as collateral.

[Office of New York City Comptroller Mark Levine @NYCComptroller]

Barclays’ commitment to phase out fossil fuel financing is a step in the right direction. 

Now it’s critical that U.S. banks follow suit.

The energy transition urgently requires the biggest financial institutions to do their part. https://t.co/FGliVcn0eN

[Jamie Alexander @jabeckx]

No matter how you feel about the outcome of COP28, you can stop financing fossil fuels today with your own money.

Our new report just dropped--- co-authored by Paul Moinester, @jkrauspolk and I with editorial support from @mkhoff--- with some astounding findings:

[Bank Fwd @bank_fwd]

Proud to have our #CarbonBankroll work cited in this insightful @GreenBiz article by Heather Clancy examining how companies like @PaloAltoNtwks @SeventhGen and others are leading the way on measuring and managing the carbon footprints from their banking and financial supply chains. This article shines light on the need to integrate financed emissions into net zero planning. @GreenTechLady #SustainableFinance https://t.co/Tn0rbeEEtx

[Bank Fwd @bank_fwd]

6. By taking action on the emissions their cash deposits indirectly finance, companies can show ✨leadership and contribute to decarbonisation of the financial system.

🔗https://t.co/VR6fOeszDt

[Bank Fwd @bank_fwd]

OUT NOW: This new #GreeningCash Action Guide shines a light on the hidden carbon footprint of companies’ cash deposits in banks. 🧵

@BankFWD is proud to have authored the guide w/ partners @exponentialroad @outdoorpolicy @FairFinanceSE

Read the Guide: https://t.co/VR6fOeszDt

[Bank Fwd @bank_fwd]

5. But companies can and should take 7️⃣actions to start measuring and reducing the emissions they indirectly finance.

[Bank Fwd @bank_fwd]

(2/2) Shareholder resolutions are crucial tools to accelerate big banks’ accountability and alignment on climate. But we need more levers: bank clients must demand climate action from their banks and lawmakers and oversight authorities must set stronger regulations.

[Bank Fwd @bank_fwd]

(1/2) At the @jpmorgan @Chase annual general meeting today, 35% or $115B worth of investment capital voted for the bank to release a detailed plan for transitioning to meet its 2030 and 2050 climate goals. This margin of support must be taken seriously and acted upon by JPMC.

[Bank Fwd @bank_fwd]

9/ Big banks and bank clients all have a responsibility to #bankbetter for our climate. FRB’s fall will make it harder in the near-term but must not deter from our ultimate need to untether our banking from fossil fuels and from the banks that continue to offer them a lifeline.

[Bank Fwd @bank_fwd]

🧵: The collapse of First Republic Bank (#FRB) and its purchase by JPMorgan Chase (#JPMC) is a dangerous development for our climate and a setback for efforts to decarbonize the banking sector. Here are some facts you need to know:

[Bank Fwd @bank_fwd]

8/ Latest #bankingonclimatechaos numbers show Wall Street banks channeled $170+B into fossil fuels in 2022, a total of $1.5+T since 2015. Bank funding for fossil fuels not only keeps the FF industry afloat, it also loads the financial system with risk that endangers our economy.