BREAKING: Hundreds of parents and climate activists are about to descend onto the luxury apartment complex of Jane Fraser, the high powered CEO of @Citibank, the world’s biggest funder of fossil fuel expansion.
— New York Communities for Change (@nychange) July 27, 2024
We’re taking the crisis to her doorstep. #SummerofHeat pic.twitter.com/50zGKVBwjT
Hundreds of activists, predominantly mothers and their children, gathered outside Citigroup CEO Jane Fraser’s luxury apartment building in New York City on Saturday to demand that the multinational bank cease its financing of fossil fuel expansion. This protest, which resulted in 59 arrests, was part of the Summer of Heat, a series of nonviolent direct actions spearheaded by five climate advocacy groups. Citigroup has been targeted due to its prominent role as a financier of the fossil fuel industry.
Citigroup has provided more financing to companies developing new fossil fuel projects than any other bank globally between 2015 and 2023, as highlighted by the recent Banking on Climate Chaos report. In terms of overall financing to fossil fuel companies, Citigroup ranked second in the world, trailing only JPMorgan Chase, with nearly $400 billion allocated during that period. These financial commitments pose significant barriers to global efforts to transition away from fossil fuels and combat climate change.
The protest began with a march from Citigroup’s headquarters to Fraser’s apartment building, located a few blocks away. Approximately 200 to 300 people participated in the demonstration. The activists, aware of the substantial police presence waiting for them, were undeterred. They set up a memorial on the sidewalk outside Fraser’s residence to honor the tens of millions of children displaced by climate change in recent years.
Marlena Fontes, a director at Climate Defenders and one of the event’s organizers, shared a poignant account of how climate change has impacted her family. During a speech to the gathered protesters, she recounted how her son was frightened, and her one-year-old daughter suffered an asthma attack when haze from Canadian wildfires enveloped New York City last year. “She was just one of many, many children on this planet who are being affected by the climate crisis,” Fontes emphasized.
The protest was a collaborative effort involving Climate Defenders, Climate Organizing Hub, Stop the Money Pipeline, the youth-led Planet Over Profit, and New York Communities for Change. Alicé Nascimento, policy director at New York Communities for Change, highlighted the police’s preparedness, noting their presence even before the protesters arrived. The substantial turnout and the number of arrests underscore the intensity of the activists’ commitment to their cause.
The Summer of Heat program, which initiated actions in early June, has been aptly named as this summer has witnessed deadly heatwaves across the United States and the northern hemisphere. The protest outside Fraser’s home occurred after a week marked by extreme global temperatures. Monday was recorded as the hottest day in history, surpassing a record set just the previous day. In response to these conditions, United Nations Secretary-General António Guterres called for coordinated global action to address extreme heat, including a swift transition away from fossil fuels.
Corporations like Citigroup complicate this transition significantly. Despite Fraser’s past expressions of willingness to consider climate impacts in Citigroup’s dealings, the bank continues to be a leading financier of fossil fuel projects. This ongoing support for fossil fuel expansion makes it challenging to mitigate the effects of climate change and achieve global climate goals.
BREAKING: NYPD arrests grandparents, parents, students, scientists and clergy outside of @Citibank CEO Jane Fraser’s NYC penthouse.
— New York Communities for Change (@nychange) July 27, 2024
Citi keeps pouring billions into oil, gas and coal projects killing our kids. Jane can’t hide from responsibility. #SummerofHeat pic.twitter.com/0FUBStYvuK
Rachel Rivera, a member of New York Communities for Change, shared her harrowing experiences with the assembled crowd. Displaced during Hurricane Sandy in 2012 and having lost loved ones in Puerto Rico during Hurricane Maria in 2017, Rivera spoke about the dire impacts of extreme weather on her family. Recently, her 10-year-old daughter had to be hospitalized and intubated due to respiratory seizures triggered by the extreme heat. “Jane Fraser should walk a mile in my shoes,” Rivera urged, drawing attention to the personal struggles faced by many due to climate change.
The Summer of Heat program aims to hold corporations accountable for their role in the climate crisis. Previous actions have targeted various institutions and locations, and the focus on Citigroup and Jane Fraser underscores the demand for corporate responsibility. The effectiveness of such protests and public pressure in driving corporate change is historically significant, with numerous examples demonstrating successful activism.
Future actions planned by the Summer of Heat and other climate advocacy groups will continue to target financial institutions like Citigroup. Sustained public engagement and advocacy are crucial in the fight against climate change, emphasizing the need for corporations to align their practices with global climate goals.
Reflecting on the protest, Marlena Fontes remarked, “This is about our children’s future. We cannot afford to wait any longer for action. The time to act is now.”
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