Washington DC—Elders picketed outside the branches of four major banks for 24 hours on Tuesday to call out their financial support of fossil fuel projects which are contributing to the worsening climate catastrophe. They sat in rocking chairs in front of the bank branches just blocks from the White House—warning them to stop funding fossil fuel energy or the planet will be unlivable within several decades.
A coalition of green groups organized by Third Act urged the banks to transition off of carbon based energy—oil, gas, and methane, and immediately and exclusively finance renewable energy sources—wind, solar, and geothermal, instead. The elders targeted Chase Bank, Wells Fargo, Citi Bank, and Bank of America, because they are the four major financiers of fossil energy, sinking a combined total of $1.2 trillion in the fossil fuel industry over the past 7 years.
Third Act is a relatively new climate organization founded by Bill McKibben in 2021 and a organization for elder citizens in their ‘third act’ of life. The four banks financial loans to fossil projects is one quarter of all fossil fuel financing, according to Third Act, consisting mainly of elders—folks 60 years and older—but many youth also took part in the rocking chair action over the 24 hour period.
As the sun came up on Tuesday morning and warmed the elders they were still lined on the sidewalk in their chairs, drinking coffee and chatting to the passers by about the worsening climate to be faced by generations to come. The planet is already beginning to suffer from the affects of carbon induced heat but in the years to come it will get much worse.
Many sat inside sleeping bags through the night as it was an uncharacteristically cold night. Some had enlarged photos of their grandchildren displayed on posters. They gave flyers to workers passing by educating them about the climate emergency and urging them to move money into green banks. Many workers asked why they had stayed out through the night—the Elders told them of their grand-children and great-grand-children to help them understand what who would be impacted most by the worsening climate conditions.
Later in the morning, those involved in the rocking chair action joined in a mile long walk from Franklin Park to the branches of the banks where the Elders were picketing to call out the banks for ignoring scientific research that demonstrated the climate emergency is rapidly worsening global climate conditions. Clergy from Churches, Synagogs, leaders from climate organizations, and union members spoke of what was to come if banks continued funding fossil energy projects. A scientist also spoke—something scientists rarely do—as they are pressured by their organizations to not speak publicly about the climate emergency. See video below.
Freeman Allen, an Elder from Charlottesville, Va, and member of Veterans Service Corps, joined Third Act because he was alarmed that enough wasn’t being done to transition off fossil fuels despite overwhelming evidence its resulting carbon output is responsible for global heat. He became involved with the climate movement on behalf of his six grandchildren, who were in their 20s. He said that they fully supported his efforts to draw attention to the climate emergency.
“The rocking chairs symbolize the fact that we are a group of older Americans deeply concerned about the climate emergency,” he said. He emphasized the climate was not a state of crisis but it was a state of emergency. “The tides are rising and the next two generations are imminently threatened. Species across the globe are going extinct and humans will be next,” he said.
Another elder sitting next to him said climate was an issue beginning to affect everyone. Susan Flashman, a retired electrician from a local union in the region, was worried that the U.S. was not doing enough. “Being a large and powerful country, we should be at the front because the countries suffering the most are the ones least able to help,” she said. “Everything is warming up and its changing the whole world.” She spoke about global regional climate impacts like last year’s floods in Pakistan, unprecedented fire storms and droughts in California, and the fact that there was almost no snow this year in the DC area.
A scientist was one of many who spoke during the rally against the banks. Rose Abramoff, who was fired from Oak Ridge National Laboratory for holding a banner during a protest, reading ’Out of the lab and into the streets,‘ said that most scientists want to speak out about the climate emergency but their organizations have warned them not to.
“What was summarized in the IPCC report yesterday is that in the next 10 years we expect to exceed 1.5 degrees celsius, at which point more tipping points become more likely than not. Widespread death of corals, abrupt melting of permafrost, collapse of Greenland and West Antarctic ice sheets are things already possible and partially underway,” she said.
Abramoff also admonished that “as a society we have chosen to optimize infinite economic growth which is incompatible with sustainable resource use. Two options await us in the immediate future, climate crisis or climate revolution. Lets choose revolution.”
Later during a second march, activists used water colors on a street art project, resulting in one arrest. None of the elders were reported arrested picketing outside the four bank branches.
Third Act is helping to start a grassroots campaign for the public to transfer their money to ‘green banks’ or financial institutions that do not invest in carbon based fossil fuel projects. This will help pressure the banks to stop investing in fossil fuel energy source projects such as methane gas pipelines, methane extraction, and coal fired generation.
