Tell Chase and MUFG: Defund the Fires
Do you know what the two mega banks Chase and MUFG have in common? They are both pouring BILLIONS of dollars into the fossil fuel industry AND bankrolling the fires in the Amazon and Indonesian rainforests.
Let’s tell Chase and MUFG to stop double-funding climate chaos -- it’s time to defund the fires and defend our forests!
To JPMorgan Chase and Mitsubishi UFJ Financial Group:
The Earth is on fire, and your reckless financing is directly linked to the devastation brought by these fires.
Your financing of fossil fuels and irresponsible agribusiness companies is exacerbating climate change and fueling fires across the globe, including in the Amazon and the rainforests of Indonesia. At a time when so many of us are struggling from the effects of COVID-19, it is inexcusable that you knowingly make the planet less habitable and increase our suffering, all in the interest of profit.
As a matter of urgency, we demand that your financial institution:
- Prohibit any use of fire to clear land by your clients and investees, and by their suppliers;
- Adopt and implement No Deforestation, No Peatland and No Exploitation (NDPE) policies across all investments and financial services, mandating all investees and clients to adopt and implement NDPE policies at a corporate group level;
- Stop funding fossil fuel expansion and commit to phasing out your fossil financing on a 1.5°C-compatible timeline;
- And ensure that the projects and companies you support are aligned with the Paris Agreement goal of limiting global warming to 1.5°C.