Wednesday October 21, Frankfurt, Germany. Climate justice activists will hold a protest outside the headquarters of the European Central Bank (ECB) to demand it stop fueling the climate crisis by supporting fossil fuel companies.
A press release with photos and videos of the action as well as statements from the protesters will be provided on Wednesday at approximately 9 am CET, for immediate release.
Who : Activists from Koala Kollektiv , a Frankfurt-based citizens’ organization that works for climate justice.
What : the protesters will set fire to a terrestrial globe to symbolize the destruction of our planet by the bankers who finances the fossil industry. Their slogan? “The ECB must stop fueling the climate crisis”.
When : between 6 and 9 am CET, just before the ECB listens (11:30 am CET) event, during which civil society groups will have the opportunity to speak on the future directions and priorities of the bank.
Where : in front of the headquarters of the European Central Bank in Frankfurt, Germany.
Why : Despite the EU’s goal of achieving carbon neutrality by 2050, the ECB continues to buy the assets of fossil-fuel companies like Total and Shell. If Christine Lagarde, President of the ECB, said that it should « explore all avenues » to resolve the climate crisis, a recent study indeed reveals that more than a trillion euros of its response program to the pandemic are used in particular to acquire the bonds of at least 38 fossil fuel companies. The ECB says it applies the principle of « market neutrality », which consists in tracing its purchases of bonds on the structure and composition of the market, so as not to distort the latter. However, the ECB’s portfolio is in reality largely composed of high carbon intensity assets;this portfolio is more focused on fossil fuels and less on renewable energies and ecomobility than the market.
Today (October 19), protesters will officially hand over to the ECB a petition signed by more than 150,000 people , urging them to support people rather than fossil fuels and polluters. More than 80% of the 24,000 people recently surveyed said climate, environment and social issues should be at the center of the Bank’s concerns. This Wednesday, climate justice activists who will protest in front of the ECB headquarters will unite their voices to those, more and more numerous, who call on the institution to move from words to deeds, by turning their backs on the main responsible of the climate crisis: the fossil fuel industry.
Notes for editors
- A press release with photos and videos of the action as well as statements from the protesters will be provided on Wednesday at approximately 9 am EST, for immediate release. Photos and videos will be available here.
- Koala Kollektiv is a group fighting for climate justice founded in January 2020 in Frankfurt. The group’s mission is to push banks and other investors to withdraw their capital from the fossil fuel industry. To learn more, click here.
- Over 150,000 people have signed a petition launched by 350.org, Reclaim Finance and SumOfUs, which calls on the ECB to support people rather than fossil fuels and polluters.
- Ahead of the public consultation organized by the ECB to reassess its strategy, more than 24,000 people responded to a survey developed and conducted by Reclaim Finance, SumOfUs and 350.org. By comparison, EU consultations often attract only a hundred participants, and rarely more than a thousand.
- Report on the ECB’s current support for the fossil fuel industry from Reclaim Finance.
(FR / EN) Paul Schreiber, Campaigner at Reclaim Finance, [email protected] , +33 6 89 02 07 88
(EN) Mark Raven, European Communications Officer for 350.org, [email protected], +44 7841474125
(DE) Sebastian Bock, campaign manager for 350.org, [email protected], +49 1738667167