Global Climate Strike March 3
END FOSSIL Finance
The capitalistic system continuously puts profit over people. Corporation’s greed for more profit is driving the destruction of ecosystems and the climate. At the same time, frontline communities are paying the highest price while being the most affected by the climate crisis.
The Global North’s fossil finance is the cause of the climate crisis, neocolonial exploitation, wars, and human rights violations. In its capitalistic system’s thinking of everlasting growth, the money of the historically largest emitters of greenhouse gasses is funding the destruction of the planet by making fossil fuel extraction possible, which majorly impacts the most affected communities by the climate crisis. Many of which have been fighting against fossil fuel projects way longer than Fridays for Future exists. As a global climate justice movement, it is our responsibility to join their fight and amplify their voices and demands.
From the fight against fracking in the indigenous territories of the Esto’k Gna tribe in North America, to local resistance in Huasteca Potosina in Mexico or Vaca Muerta in Argentina; the resistance against the EACOP pipeline in Uganda and Tanzania; the fight against gas fields in front of the coast of Senegal or LNG terminals in Mozambique; the resistance of the Peruvian people against deforestation and oil drilling in the Amazon; to local fisher’s fight against TEEPSA in South Africa – all these fights are connected and their cause is finance. Fossil fuel corporations like Shell, TotalEnergies, Repsol, Perenco or Chevron can only realize these projects because of money that is provided to them by banks, insurers, and investors.
The International Energy Agency has been very clear: we must End Fossil Finance now to comply with the Paris Agreement and limit global warming to +1.5°C. The IPCC has also reminded us that our window of opportunity to achieve this objective is closing very rapidly. Investing in fossil fuel projects not only is fully incompatible with the Paris Agreement and international law, but it is a criminal act with horrible consequences. Every dollar used for fossil finance is a dollar stained with blood, and contributing to the ecocide, to the death of thousands of fellow human beings, and to the destruction of our common home and of the species that live with us on a planet that does not belong to us.
We demand an end to the financing of all fossil fuel projects! Further, these practices increase the ecological debt that the global north owes to the most affected people and areas by the climate crisis. A debt that is way larger than any financial debt the Global North puts on them. We are therefore demanding from historically largest emitters/Global North to unconditionally cancel the Global South’s financial debt as well as reparations for Loss and Damage to those most affected by the climate crisis. Ending fossil finance is not a question of technical capacity but it is a matter of political will. There are enough funds to fulfill the SDGs if public investment banks and the private sector redirect the investments made in fossil fuel to sustainable projects and renewable energy.
From voting to civil disobedience, we call on everyone to grassroots organize and act against fossil capitalism through the means of action suitable for them. For climate justice we need to break the influence of fossil fuel corporations, banks, and insurers.
It’s time to End Fossil Finance because #TomorrowIsTooLate!