Target: Janet Yellen, U.S. Secretary of the Treasury
Goal: Support cutting off unfettered cash flow to polluters driving the climate crisis.
In 2020, natural disasters caused an estimated 117 billion dollars in damages to the economy. With a year so far characterized by record-breaking wildfires, heat waves, hurricanes, and floods, 2021 may fare even worse. Meanwhile, climate change deniers and shoulder-shruggers continue to rage about the impact sound climate policy will have on the economy–an “impact” that likely includes the creation of new jobs and a more secure future. America’s leading financial agency could have a decisive say in what future the nation ultimately charts, for good or ill.
Currently, banks and other lenders hand out hundreds of millions of dollars to corporations that make a business model out of pumping toxic greenhouse gases into the environment. While the Department of the Treasury cannot outright ban these loans to fossil fuel companies, they can make lenders think twice about financing the devastation of our global climate and our planet. If the treasury encourages such measures as enhanced liability insurance, more strongly weighted risk assessments for emissions, and a more hardline approach by financial regulators that oversee banking practices, these important steps would be much more likely to come to fruition.
Sign the petition below to demand a secretary who claims she cares about the climate crisis back up her words with actions.
PETITION LETTER:
Dear Secretary Yellen,
The Department of the Treasury is awaiting the results of a report on the economic impacts of he climate crisis. You likely already know what these findings will reveal, Madam Secretary. The chaotic months of 2021 speak for themselves. Only one question remains: what will you do about it?
You have demonstrated a willingness far beyond that of your predecessor to confront this crisis. The climate risk company disclosures and the climate hub are positive steps forward, but they only identify an already-clear problem. Advocates have asked you to take more decisive action…a request you are reportedly prepared to deny. Please rethink this position.
Do not be fooled by the claims of some politicians that a more ambitious climate policy would wreck the financial system when it would in fact do the opposite. Such “but the economy” arguments have been used far too often to justify destructive practices such as slavery. You have already encouraged investment in clean energy projects while discouraging toxic fossil fuel investments overseas. Please do not exempt the country that you represent and safeguard from this critical progress.
Sincerely,
[Your Name Here]
Photo Credit: Paul Lowry
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