Putin’s illegal invasion of Ukraine is forcing companies to make big, bold choices. Exxon, one of the worst polluters in history, is saying it’s leaving $4bn worth of investments and projects to get out. Shell, a company known to throw millions of dollars distracting people from the science, said sorry for buying Russian oil and is leaving their investments behind. BP, who have admitted to misleading investigators looking into their crimes, is also leaving.
When companies like this are doing the right thing on moral grounds, other companies don’t have an excuse. And yet, banks are trying to keep their foot in the door. A bunch of major banks are big financiers of Russian fossil fuel companies. The same companies that are filling Putin’s war chest, and fuelling his tanks.
Citigroup, JP Morgan, Credit Agricole, Blackrock, Vanguard, Mitsubishi UFJ, Raiffeisen Bank, Societe Generale and UniCredit are some of the biggest financial organisations refusing to exit Russia. And by refusing, they’re helping to prop up Putin’s invasion.
Big banks and asset managers are propping up Russia's invasion of Ukraine by financing some of the biggest Russian energy companies. We joined 75+ organizations to call on @Chase @BlackRock and @Citi to #DefundFossilFuels and help #EndWar.https://t.co/xMi1sqfb05
— Rainforest Action Network (RAN) (@RAN) March 5, 2022
It’s why 75 organisations published a letter to the biggest financial companies in the world demanding that they exit their Russian investments. Everyone one of the financial organisations financing Russian fossil fuels is propping up the war – and it must stop now.
Sign the international petition demanding they stop now: https://avaaz.org/campaign/en/wall_street_ceo_11/