350 NYC is part of the Stop the Money Pipeline coalition, 175 organizations working to stop all things pertaining to the financing of climate destruction. It is an expansion of the successful divestment movement and a global effort targeting pensions, banks, asset managers and insurance companies causing climate chaos by funding, insuring, and investing in climate destruction, deforestation and impeding Indigenous sovereignty.
Being located in a center of global finance, 350 NYC is uniquely situated to pressure financial institutions headquartered here:
- J. P. Morgan Chase, the world’s biggest funder of fossil fuel projects;• Citibank, the second biggest;
- Blackrock, the world’s biggest financial asset manager, which controls $9 trillion in assets and is the world’s top investor in climate instability;
- Chubb, the world’s top insurer of the fossil fuel industry. Chubb has made significant commitments to transition itself out of this, but it continues to insure climate-wrecking projects like the Trans Mountain pipeline in Canada.
Our newest target is the Federal Reserve, which we call upon to reduce the risk both to climate and the financial system by limiting banks’ exposure to fossil fuels.