Environmental activists in New York continue to protest against Citi, accusing the banking giant of contributing to the climate crisis.
Fueled by anger over Citi’s support for polluting businesses, activists have launched a “summer of heat” campaign that includes protests, leafleting, and online pressure tactics.
Protesters gather weekly at Citigroup’s headquarters in Lower Manhattan, demanding a change in the company’s fossil fuel investment policies, inspired by similar campaigns in Europe.
So far, nearly 600 people have been arrested during the protests and sit-ins in New York.
In June, four activist groups initiated the campaign against Citi, along with numerous other organizations.
Jonathan Westin, a protest organizer, expressed frustration with the lack of progress in meetings with Citi and vowed to continue the campaign until the company changes its ways.
Citi, along with other major banks, has invested trillions in oil and gas exploration and other polluting projects since the signing of the Paris Agreement in 2016.
The report highlights Citi as one of the major funders of dirty energy projects worldwide.
– ‘Power to stop’ –
Protest organizers believe that major financial institutions like Citi have the power to make a difference by investing in sustainable initiatives.
Citi defends its climate-related activities and commitment to a low-carbon economy through sustainable finance goals.
The campaign against fossil fuel financing is seen as a long-term battle by activists, paralleling historical struggles for civil rights.
The UN warns that new oil and gas licenses jeopardize the future of the planet, with finance playing a crucial role in supporting polluting projects.
Activists are targeting financial institutions as a key strategy to combat climate change and promote a transition to clean energy.
Protester Laura Esther Wolfson emphasizes the importance of continuous action in the fight against fossil fuel financing, drawing parallels to historical movements for social justice.
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