August 17, 2021

UPDATE: ‘Fossil Free Federal Reserve’ campaign shifts from in-person to remote action around this week’s Economic Policy Symposium


Jackson Hole, WY — While and 350 Colorado planned a series of creative actions outside of this week’s Economic Policy Symposium, the meeting has been moved to a virtual setting due to COVID-19, and organizers are shifting plans to make a remote impact.

Last month, the Fossil Free Federal Reserve campaign launched with over 20,000 people calling on President Joe Biden to appoint a climate champion to Chair the Fed.

Organizers of the Fossil Free Federal Reserve campaign will continue to make demands heard to global financial decision-makers, including current Federal Reserve Chairman Jerome Powell, ahead of COP26 in Glasgow in November.

The overall campaign demands are:

  1. President Biden: appoint a real climate leader to Chair the Federal Reserve.
  2. Congress: expand The Fed’s mandate to eliminate racial, gender, and class disparities in jobs, wages, and wealth.
  3. The Federal Reserve:
    • END BANK FOSSIL FINANCE: Use existing regulatory and supervisory tools to begin limiting and phasing down the financing of emissions.
    • DIVEST AND INVEST: Align Fed spending and asset purchases with the Paris Climate Agreement’s goal of limiting temperature rise to 1.5°C
    • PUSH BANKS TO INVEST: Encourage and support bank investment aimed at limiting global temperature rise to 1.5°C, with an emphasis on lending to low-income communities and communities of color.

Shifting away from initial plans for in-person actions with the compound impacts of COVID-19 and climate change top of mind, organizers will continue to hold COVID-safe art builds, organize banner drops and photo opportunities in at the Federal Reserve branch in Denver and Jackson Hole on Thursday, August 26, keep track of remarks and outcomes of the Summit, and deliver tens of thousands petition signatures next week.