Banks need universities and students to keep running business as usual, which includes funding the very fossil fuel companies that drive climate change. But universities and students don't need those banks - we have alternatives, which means we have valuable power and influence.
Banks need to know that students no longer want to work for companies that finance the climate crisis - it's time for them to stop pouring billions into destroying the climate.
Are you part of a university community and interested in getting involved with our campaign to pressure banks to stop funding fossil fuel companies? Get in touch at breakingthebank@sos-uk.org
25% of all fossil fuel funding was provided by just 4 banks over the past 6 years: JPMorgan Chase, Citi, Wells Fargo, and Bank of America. Two additional banks, Barclays and HSBC, are the European banks that put the most financing into fossil fuels.
71% of all global emissions are produced by just 100 companies - fossil fuel producers and their investors.
The problem is clear: The fossil fuel industry needs money to cause the climate crisis, and banks are giving it to them. Banks must stop this funding.
Banks rely on universities and students for recruitment and reputation: we can use this to put the pressure on for our demand that they stop financing fossil fuels.
Without students for internships and jobs, the banks will struggle to function. Exposing the banks' financing of fossil fuels and how it goes against universities' academic and sustainability values will damage their reputation and thus their business.
We're building university campaigns across the country, each one unique to the institution and group of students. While our tactics vary, our goal is the same: pressure big banks to stop financing fossil fuels. From circulating petitions to disrupting careers events, we are taking a varied approach to make these big banks feel the heat.
Other campaigns have been successful: For example, the University of California, the cities of Seattle and Davis both broke ties with Wells Fargo after student campaigning, due to the bank's financing of private prisons and investment in the Dakota Access Pipeline.
Are you part of a university community and interested in getting involved with our campaign to pressure banks to stop funding fossil fuel companies? Get in touch at breakingthebank@sos-uk.org
Follow us on twitter at @break_ngthebank
We are researching the relationships banks have with universities and will be publishing our findings throughout the year here - watch this space! If you'd like to help with our research or send us information that may be relevant, please contact us at breakingthebank@sos-uk.org
Want to find out more about banks financing the fossil fuel industry, or anything else mentioned on this page? You've come to the right place:
A report on banks financing the fossil fuel industry:
Banking on Climate Chaos 2022
Articles on the UC system divesting from Wells Fargo:
UC System Divests from Private Prison Industry - UCSD Guardian
UC Divests from Wells Fargo - City on a Hill Press
UC to divest from Wells Fargo after Afrikan Black Coalition advocacy (dailycal.org)
The original petition by the Afrikan Black Coalition calling for the University of California to divest from Wells Fargo:
Articles on Seattle and Davis's divestment from Wells Fargo:
How Two Cities Are Taking A Major Stand Against The Dakota Access Pipeline - GOOD
NoDAPL Success: Davis Moves its Banking - Fossil Free California
Davis and Seattle Divest More Than $3 Billion From Wells Fargo Over Dakota Pipeline | KQED
California City of Davis Divests from Wells Fargo in DAPL Protest | Colorlines
