Posted on June 10, 2023
As more politicians run on anti-immigrant platforms, the National Immigration Law Center Immigrant Justice Fund is fighting back
As more politicians run on anti-immigrant platforms, our grantee partners at National Immigration Law Center Immigrant Justice Fund are building power on all fronts by pushing for Congress to advance key legislation, supporting pro-immigrant candidates running for office and building partnerships to achieve electoral wins.
In November 2022, CREDO members voted to donate $26,383 to fuel NILC Immigrant Justice Fund’s legislative advocacy, messaging research, and electoral work geared toward advancing inclusive, equitable policies that improve the lives of low-income immigrants and their loved ones.
Powered in part by the generosity of CREDO and our members, NILC Immigrant Justice Fund had some recent victories and launched some great new initiatives. Here’s a quick report from the organization on how your donations are making an impact
Recent Victories
After the 2022 midterm elections, the NILC Immigrant Justice Fund analyzed the role immigration played in key electoral races across the country and met with allies in the progressive movement to better understand how to engage them in the upcoming election cycle.
We focused on applying lessons learned to build upon and refine our program strategies, as well as adding new tactics and new partners to strengthen the IJF’s impact and continue to fulfill our goals to defend and advance the rights of low-income immigrants and their families.
We also initiated an opposition research project focused on top contenders for the Republican Party’s nomination for President, and then produced profiles on these candidates. Recognizing that these candidates will be trying to “out-extreme” one another on immigration-related issues during the upcoming election cycle, we are compiling in-depth reports of policies, statements, and any other actions these candidates have taken to produce a detailed report on what their administrations might pursue and what is at stake if they were to become President.
Visit https://www.immigrantjusticefund.org/extremism to learn more.
New Initiatives
Going forward, we will work to garner earned media attention on our findings, share our report with political committees, partners in the progressive movement, and other stakeholders, and co-brand digital ads during key presidential debates so that we can apply more lessons learned toward our electoral cycle work to include the public debate on immigration issues.
We also plan to create a candidate, “Immigration 101” training program, which will be a succinct, but comprehensive guide to policy and messaging that helps promote and advance immigrant justice.
If you’d like to learn more or get involved with NILC Immigrant Justice Fund, please visit their website, or follow them on Facebook, Twitter and Instagram.
Posted on June 7, 2023
With CREDO funding, the National Fair Housing Alliance is fighting housing and lending discrimination
Note from the CREDO team: This June, the National Fair Housing Alliance is among three amazing groups that will receive a share of our monthly grant. Funding from the CREDO community will play a critical role in NFHA’s efforts to address housing inequalities that persist in this country
Read this important blog post from NFHA’s President and CEO Lisa Rice, then click here to visit CREDODonations.com to cast your vote to help determine how we distribute our monthly grant to this organization and our other amazing grantees this March.
Fifty-five years ago, on February 29, 1968, the National Advisory Commission on Civil Disorders, also known as the Kerner Commission, issued a seminal report noting that our nation was “moving toward two societies, one black, one white‒separate and unequal.” Just weeks later, on April 4, 1968, Dr. Martin Luther King, Jr., a champion of justice who had been outspoken on the nation’s economic and racial inequalities, was assassinated in Memphis, Tennessee. Just seven days later, the Fair Housing Act became law.
We have come a long way since that tumultuous time 55 years ago.
Yet, with these accomplishments, and amid material abundance, we still have unfair systems that are driving racial wealth and homeownership gaps; economic inequality; and structural barriers for women, people with disabilities, certain religious groups, new immigrants, and LGBTQ+ communities.
That is why efforts like CREDO Mobile’s grant program play a critical role in NFHA’s efforts to address inequalities that persist in this country.
Through NFHA’s education and outreach, member services, public policy, advocacy, housing and community development, tech equity, enforcement, and consulting and compliance programs, our team works to dismantle those long standing barriers to equity and build diverse, inclusive, well-resourced communities where everyone can thrive. Funding is the pillar of NFHA’s efforts to continue this work.
This year, as part of the 55th Anniversary Campaign celebrating Dr. King’s legacy and commemorating key events of 1968, NFHA is working with its allies and partners to examine what has been achieved over the years and develop solutions that must be put in place to make fair housing a reality in the United States. We are creating and implementing strategies for addressing appraisal bias, discrimination against people who use Housing Choice Vouchers, algorithmic injustice, the racial wealth and homeownership gaps, the affordable housing crisis, restrictive zoning challenges, ways to implement the Fair Housing Act’s Affirmatively Furthering Fair Housing mandate, and much more.
Fair housing should be the norm in this country. A fair housing system makes for stronger families, livable communities, and resilient businesses to create a robust, productive economy that generates opportunities for all to thrive and prosper.
Posted on June 6, 2023
Envisioning feminist philanthropy with the Global Fund for Women
Note from the CREDO team: This June, the Global Fund for Women is among three amazing groups that will receive a share of our monthly grant. Take a minute to read this important blog post, then click here to visit CREDODonations.com to cast your vote to help determine how we distribute our monthly grant to this organization and our other amazing grantees this June.
Traditional philanthropy is typically white and male dominated, and that’s bad news for feminist activists who end up getting the short end of the stick. Only 1.9% of all charity makes it to women and girls. And Black feminist social movements get even less—smaller than 0.5%.
Global Fund for Women is flipping the script in favor of a new way of showing solidarity and support: Feminist Philanthropy. It’s about time, right?
We’re shifting power to the people left behind by the old boys’ club—Black and Indigenous people, LGBTQI+ people, rural women, people with disabilities, sex workers, and more people most impacted by gender injustice. We believe they know their communities best, and we trust them to know how best to spend funds and create revolutionary change in their communities.
That’s why we created the 1.9 Rising community, where supporters can make a monthly gift, and receive a welcome gift featuring feminist artwork, access to online and in-person events, and more. Dependable funding every month is a meaningful way to reach out to an activist and offer direct support so they can spend their time making revolutionary change in their own communities instead of raising money.
It’s not new for all of us at Global Fund for Women. We’ve been at it for over 30 years, funding human rights and gender justice for women, girls, and all marginalized people at the local level and trusting local partners to drive solutions that make sense.
Partners like our longtime sister fund in Ukraine, who is reeling from the Russian invasion and war. Global Fund for Women has supported feminist work in this region for over 20 years. In addition to help with evacuations and humanitarian aid such as food and medicine, Ukrainians are also asking for support in publicizing their simple ask: stop the war.
Because of our deep relationship with partners in Ukraine, we are listening to what local needs are on the ground right now—and for the foreseeable future. Global Fund for Women will be there long after the cameras and news reports move on.
As a feminist funder, we’re shifting power to historically marginalized communities including women, girls, and gender non-conforming people. We’re getting flexible funding and resources directly to feminist activists who know exactly how to use it.
And here’s what makes it especially great: activists can spend their days making change instead of raising cash. It matters every day, and especially in times of crisis.
Zoneziwoh Mbondgulo-Wondieh of Women for a Change, Cameroon said, “We need not just more funding, but better funding: flexible core funding that allows organizations to use the grants how they wish. It was this unrestricted funding from Global Fund for Women that allowed our organization to quickly turn our attention towards the Covid response and gave us the autonomy to provide what our communities really needed.”
We know this approach supports bold grassroots gender justice movements creating meaningful change that will last beyond our lifetimes.
Join us in our feminist approach to philanthropy, and support the work of feminist leaders working at the forefront of climate justice, sexual and reproductive justice, racial justice, economic justice, and so many more gender justice movements. To learn more, visit https://www.globalfundforwomen.org/.
Posted on June 5, 2023
Vote for Family Equality, Global Fund for Women and National Fair Housing Alliance this June
Every month, CREDO members vote to distribute our monthly grant to three incredible progressive causes – and every vote makes a difference. This June, you can support groups fighting for LGBTQ rights, gender justice and fair housing by voting to fund Family Equality, Global Fund for Women, and National Fair Housing Alliance.
Family Equality
Our mission is to ensure that everyone has the freedom to find, form, and sustain their families by advancing equality for the LGBTQ+ community. We are creating a world where everyone can experience the love, safety, and belonging of family.
Funding from CREDO will help Family Equality fight back against the hundreds of anti-LGBTQ+ bills introduced in state legislatures this year, empower LGBTQ+ families to find community and celebrate their joy, and drive the LGBTQ+ family narrative.
Global Fund for Women
Global Fund for Women envisions a world where movements for gender justice have transformed power and privilege for a few into equity and equality for all.
Only 1.9% of all donations make it to organizations dedicated to women and girls. And Black feminist social movements get even less—smaller than 0.5%. With your support, Global Fund for Women is changing that.
National Fair Housing Alliance
The National Fair Housing Alliance is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people.
This grant will have a tremendous impact on NFHA’s work and would directly support its Advancing a Blueprint for Equity campaign. As part of that campaign, NFHA is commemorating Dr. King’s legacy, the Kerner Commission Report and the Fair Housing Act.
Your vote this month will determine how we divide our monthly donations among these three progressive groups. Be sure to cast your vote to support one, two or all three by June 30.
CREDO members who use our products and services everyday are the reason we are able to make these donations each month. Learn more about CREDO Mobile and join our movement.
Posted on June 3, 2023
Our May grantees thank you for your support
Each month, CREDO members vote on how we distribute funding to three incredible nonprofits. Those small actions add up – with one click, you can help fund groups fighting for climate justice, survivors of domestic violence, and paid leave. In May, CREDO members voted to distribute our monthly donation among Friends of the Earth Action, National Domestic Violence Hotline and Paid Leave for All.
These donations are made possible by CREDO customers and the revenue they generate by using our services. The distribution depends entirely on the votes of CREDO members like you. And for that, our April grant recipients thank you.
Friends of the Earth Action
“Thank you for voting for Friends of the Earth Action! CREDO members like you are fueling our work for climate justice. You are empowering us to push leaders for a fair and equitable solution to the climate crisis – one that puts people over profits.” – Erich Pica, President. Friends of the Earth Action
To learn more, visit www.foeaction.org.
National Domestic Violence Hotline
“Thank you for standing with survivors of domestic violence. More people than ever are reaching out for support—we receive 3000+ calls, chats, and texts a day. Your life changing investment provides a path to safety and HOPE for a life free from abuse.” – Katie Ray-Jones, Chief Executive Officer, National Domestic Violence Hotline
To learn more, visit www.thehotline.org.
Paid Leave for All
“Thank you for your support of our movement to pass paid leave for all. Nothing is more important than being there for our families—having the time to recover and care for loved ones. Thanks to you we are close to making paid leave for all reality.” – Dawn Huckelbridge, Director, Paid Leave for All
To learn more, visit www.paidleaveforall.org.
Now check out the three groups we are funding in June, and cast your vote to help distribute our donations.
CREDO members who use our products are the reason why we are able to make these donations each month. Learn more about CREDO Mobile, the carrier with a conscience.
Posted on June 2, 2023
Advancing Equality for LGBTQ+ Families
Note from the CREDO team: This June, Family Equality is among three amazing groups that will receive a share of our monthly grant. Funding from the CREDO community will help Family Equality fight back against the hundreds of anti-LGBTQ+ bills introduced in state legislatures this year, empower LGBTQ+ families to find community and celebrate their joy, and drive the LGBTQ+ family narrative.
Read this important blog post, then click here to visit CREDODonations.com to cast your vote to help determine how we distribute our monthly grant to this organization and our other amazing grantees this June.
At least 20 million American adults identify as lesbian, gay, bisexual, transgender, queer, or questioning (LGBTQ+)—and many of them have or are considering expanding their families! Research shows that nearly 63% of LGBTQ+ millennials are considering expanding their families in the coming years.
That’s where Family Equality comes in! Since 1979, Family Equality has been working to advance lived and legal equality for LGBTQ+ families across the country, driven by the belief that everyone deserves the right and opportunity to form and sustain a loving family, live in communities that respect them, and access services free from discrimination. We work in four critical areas to usher in change for good: community-building, education, advocacy, and organizing.
Family Equality is advocating for lived and legal equality and organizing LGBTQ+ families to speak out and take action. As it stands, there is no federal law prohibiting anti-LGBTQ+ discrimination—and 13 states allow adoption and foster care agencies to turn away LGBTQ+ parents. In 2022 there was a record number of anti-LGBTQ+ bills introduced across the country. This year we have seen that number almost double to over 550 anti-LGBTQ+ bills. As hateful and damaging anti-LGBTQ+ rhetoric also ramps up, our families’ freedoms are at stake.
Family Equality’s policy team tracks legislation on a range of issues that directly affect both existing LGBTQ+ families and the ability of LGBTQ+ individuals to expand their families. These attacks on LGBTQ+ people, especially transgender youth, in healthcare, in sports, and in the classroom, are very real threats to our families.
As well as advocating for the rights of LGBTQ+ families, Family Equality also connects LGBTQ+ families, youth from those families, and prospective parents across the country. Our equitable programming moves us closer to gender, racial, and economic freedoms through allyship bridge building, LGBTQ+ community building, and education and resource creation.
Family Equality is addressing the needs of LGBTQ+ families right now. With the increased anti-LGBTQ+ legislation, policies, and rhetoric across the country, families are reaching out to us for information, resources, and help. In response, we created Path2Familyequality.org, a hub for families to stay informed, create a plan, and find hope. Whether a family decides they need to flee their home state or seek resources to advocate for their children as they stay put, Path2FamilyEquality is evolving to address their needs and buoy them in a challenging time.
We also work to educate community members, neighbors, and allies through important research, training, and resources. For instance, Family Equality’s Open Door Program offers family-building providers and HR professionals in-depth, interactive courses to equip them with the tools necessary to develop inclusive policies and practices.
(We also create resources by and for LGBTQ+ families, including our Path to Parenthood webinars with LGBTQ+ fertility experts and our robust resource library!)
Family is fighting for what matters most – Love. Family. Freedom. Advancing both legal and lived equality is our mission and we won’t stop this work until all families are recognized, respected and protected. Learn more at familyequality.org.
Posted on June 1, 2023
We don’t change our logo for Pride Month — because we don’t need to.
Every June, when big corporate brands slap rainbows on their logos, we always roll our eyes.
Why? Because these “rainbow washing” campaigns are just another month-long marketing ploy designed to pander to the LGBTQ+ community and pad the bottom line.
Here at CREDO, we never change our logo during Pride Month because we don’t need to. We support the LGBTQ+ community all year, every year.
Since 1985, we have donated more than $15 million to progressive nonprofits fighting for equality and civil rights — groups like the Transgender Law Center, the National LGBTQ Task Force, the ACLU and our current grantee, Family Equality.
For us, Pride really is every month, and our logo has always symbolized support and solidarity with our LGBTQ+ friends and neighbors — and that solidarity is important now more than ever.
This month, as many well-known corporations are shamefully pulling back from their Pride campaigns in the face of intense conservative bigotry — even hiding their displays in the backs of stores — we are doubling down our support by donating $50 to the Transgender Law Center for every new line added to CREDO Mobile using code PRIDEPG50 or PRIDEBG50.
To all the brands authentically celebrating Pride this month and supporting the LGBTQ+ community throughout the year, we thank you and urge other corporations to follow our collective lead.
To all the companies monetizing and diluting the month of June by co-opting a rainbow flag, take some time to learn what Pride is really about (clue: it’s rooted in resistance). Lift up the voices of your queer employees and customers. Stop donating to anti-LGBTQ+ politicians and causes, and instead advocate for anti-discrimination legislation, support gender-affirming care, and take a public stance against hatred and bigotry.
As violence perpetrated on LGBTQ+ people has intensified, especially against trans and gender-diverse communities, true allyship is so important today — including from the corporate world.
So ditch the cynical press releases and rainbow logos, and move those Pride displays to the front of the store — and leave them there all year long. It’s the least you can do.
Posted on May 25, 2023
The results are in: Are you a socially-responsible consumer?
A few weeks ago, we polled CREDO members on their consumer habits, particularly regarding what it means to be a socially-responsible consumer and how a company’s political stances influence purchasing decisions.
The results were eye-opening and incredibly interesting — especially in light of recent news that companies like Target have unfortunately capitulated to right-wing threats against the LGBTQ community leading up to Pride celebrations. (Quick reminder: Support for the LGBTQ+ community is a core value of CREDO and we will never waiver in our support for equal rights.)
Have a look at the results in this infographic below — then, please feel free to continue as one of the 96% of our socially-responsible CREDO members and vote to help us fund this month’s grantees!
Posted on May 18, 2023
5 Important Settings Make Your Smartphone Easier to Use
We use our smartphones every day for entertainment, to stay connected with loved ones, pay our bills and so much more.
But sometimes they can be difficult to use, especially if we face challenges with our physical abilities.
Luckily, as technology continues to advance, smartphone makers are increasingly prioritizing accessibility features to ensure that everyone, regardless of ability, can fully enjoy the benefits of these powerful devices.
In this week’s tip, we’ll share five of the best settings in smartphones that make them easier to use.
1) Voice Control and Dictation:
Voice control and dictation are revolutionary features that enable users to navigate their smartphones using voice commands. This accessibility tool has significantly improved over the years, thanks to advancements in speech recognition technology. Apple’s iOS 16 and Google’s Android 13 have taken voice control to the next level by offering enhanced accuracy and expanded functionality. You can now effortlessly compose messages, search the web, open applications, and perform various other tasks, all through voice commands.
To enable Voice Control on iOS, follow these steps:
- On your iPhone or iPad, go to Settings.
- Tap on Accessibility.
- Select Voice Control.
- Toggle the Voice Control switch to enable it.
- Go to Settings > General > Keyboard.
- Turn on Enable Dictation.
To enable Voice Access on Android:
- Open the Settings app on your Android device.
- Tap on Accessibility.
- Scroll down and select Voice Access.
- Toggle the Voice Access switch to enable it.
2) Magnification and Display Customization:
For individuals with visual impairments or low vision, magnification and display customization options can be transformative. Both Apple and Android smartphones provide powerful tools to enlarge text, adjust color contrast, and modify display settings to suit your needs. You can dynamically resize text, enabling you to scale text across different applications easily. These features will make content more accessible and enhance readability for users with visual challenges.
On iOS, follow these steps to magnify the screen with Display Zoom,:
- Go to Settings > Display & Brightness > Display Zoom.
- Select Larger Text to make all the text on iPhone larger.
- Tap Done, then tap Use Zoomed.
- Open your device’s Settings app.
- Tap Accessibility > Magnification.
- Turn on Magnification shortcut.
3) Assistive Touch and Gesture Navigation
For those with limited mobility or dexterity, navigating a smartphone can be challenging. Assistive Touch, available on iOS 16, and Gesture Navigation, introduced in Android 13, offer alternative methods for interacting with smartphones. Assistive Touch allows users to perform common tasks, like taking screenshots or adjusting volume, through customizable on-screen gestures, making navigation more convenient. Gesture Navigation replaces traditional physical buttons with intuitive swipe gestures, providing a more fluid and accessible user experience.
To enable Assistive Touch on iOS:
- Go to Settings > Accessibility > Touch > AssistiveTouch, then turn on AssistiveTouch
To enable Gesture Navigation on Android:
- Open the Settings app.
- Go to System > Gestures > System navigation.
- Choose from the options Gesture navigation: No buttons 2-button navigation: Two buttons for Home and Back, or 3-button navigation: Three buttons for Home, Back, and App Overview.
4) Live Caption and Real-Time Transcription:
Captions and transcriptions can be essential accessibility features for individuals with hearing impairments. Both Apple and Android smartphones now offer live captioning and real-time transcription capabilities. You can enjoy videos, podcasts, and voice messages with automatic, on-screen captions. With real-time transcriptions, you can participate in conversations by transcribing speech into text in real-time, making communication more inclusive and empowering.
To enable Live Captions on iOS:
- Go to Settings > Accessibility > Live Captions (Beta).
- Turn on Live Captions, then tap Appearance to customize the text, size, and color of the captions.
- You can also enable Live Captions within FaceTime.
To enable Live Transcribe on Android:
- Download Live Transcribe & Sound Notifications on Google Play.
- Tap the Live Transcribe app and make sure that you’re connected to the internet.
- Hold your device microphone near the person or sound that you want to capture. The microphone is usually located at the bottom of your device.
5) Sound Amplification and Adjustments
For those with hearing impairments, sometimes all you might need is a little boost in the volume or adjustments of certain frequencies in your headphones to hear better. With these settings, you can make custom tweaks to FaceTime and phone calls, music, videos and other media.
To enable Headphone Accommodations in iOS:
- Go to Settings > Accessibility > Audio/Visual > Headphone Accommodations. Turn on Headphone Accommodations.
- Now, you can choose how to apply your settings to different apps by choosing “Phone” or “Media”
- If you have an audiogram available in your Health App, you can use that to customize your headphone settings as well.
To use Sound Amplifier on Android:
- Download Sound Amplifier from Google Play, connect your headphones and open the app.
- Open your device’s Settings app. Tap Accessibility > Sound Amplifier > Open Sound Amplifier.
- Now, you can adjust multiple settings, including reducing unwanted sounds, boosting quiet sounds, boosting low and high frequency and adjusting ears separately
Posted on May 10, 2023
CREDO members are helping to power big victories for Rainforest Action Network
Our long-time grantee partners at Rainforest Action Network preserve forests, protect the climate and uphold human rights by challenging corporate power and systemic injustice through frontline partnerships and strategic campaigns.
In October 2022, CREDO members voted to donate $31,833 to help strengthen RAN’s organizational capacity to push for systemic institutional change and help it exert public and inside pressure on corporations, banks and other institutions to stop environmentally destructive practices. RAN was also the recipient of our special $10,000 Earth Day donation last month. In total, CREDO members have donated nearly $1.5 million to further RAN’s critical climate justice work.
Powered in part by the generosity of CREDO and our members, RAN had some recent victories and launched some great new initiatives. Here’s a quick report on how your donations are making an impact:
Recent Victories
CREDO’s generous general operating support grant provided critical support to several greater organizational outcomes over the past five months, including:
- Building off the March 2022 Banking on Climate Chaos report, RAN released a briefer on the precipice of COP27. It highlights that six years since the Paris Agreement, the world’s 60 largest private banks financed fossil fuels at $4.6 trillion, with $742 billion in 2021 alone;
- As a result of intense campaign pressure, in March 2023, US Insurer, Chubb, announced new policies that restrict underwriting oil and gas extraction based on conservation and emissions criteria. Chubb will not insure new or existing oil and gas extraction projects that are located in specific protected areas or do not have plans to manage methane emissions. This is the first policy from a US insurer that applies to conventional oil and gas underwriting;
- RAN escalated public pressure on Forests campaign target, Procter & Gamble (P&G), showing up in Cincinnati twice, supporting members of the P&G family to meet with the CEO and deliver our Carbon Bombs report, highlighting persistent deforestation;
- In the lead-up to the COP27 in Egypt and in light of increased financing to forest-risk commodities, RAN released a finance policy assessment report in October 2022 with key findings and a deep dive into the Indonesian pulp sector and Brazilian beef sector; and
- RAN distributed over $775,000 in small grants to over 80 Indigenous, frontline, grassroots community groups in North America, Latin America, and Indonesia, resisting fossil fuel extraction and deforestation. Our 2022 grantmaking highlights are described in our recent blog, 2022 A Year in Review: Report Back from the Frontlines.
New Initiatives
Since its CREDO grant was delivered in December 2022, RAN released a groundbreaking case study from the frontlines of the Long Isun Indigenous Community in Indonesia and its hallmark Banking on Climate Chaos annual fossil fuel finance report.
On February 14, 2023, RAN launched a new Case Study report in partnership with the Dayak Bahau Indigenous Peoples of Long Isun and local Samarinda-based NGO Perkumpulan Nurani Perempuan, titled “Keep Forests Standing: How local community resistance is saving the last rainforests of Borneo.” The report sheds light on the Long Isun community as an example of how Indigenous land stewardship keeps forests standing and the community thriving. Despite their decade-long resistance and objection, timber concessions controlled by the Indonesian conglomerate Harita Group have held on to their licenses to log over a quarter of their territory. Harita Group’s palm oil division Bumitama Agri Limited supplies palm oil to global brands like Mondelēz and P&G – two of RAN’s KFS targets.
On April 13, 2023, RAN in collaboration with BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club and Urgewald released the 14th annual Banking on Climate Chaos report, which has already been endorsed by more than 625 organizations from 75 countries. Data in the 2022 report reveals that banks profiled funneled $150 billion in 2022 into the top 100 companies expanding fossil fuels, including TC Energy, TotalEnergies, Venture Global, ConocoPhillips, and Saudi Aramco. Of the 60 banks in scope, 49 have committed to net zero emissions and yet, our data calls those commitments into question, since these 49 banks provided 81% of the financing to the 100 top expanders in 2022. Key findings include:
- In the 7 years since the Paris Agreement, fossil fuel financing from the world’s 60 largest banks has reached USD $5.5 trillion, with $669 billion in financing in 2022 alone.
- Fossil fuel financing continues to be dominated by a handful of banks based in the United States, Canada, and Japan. For the first year since 2019 when we began reporting on financing for all fossil fuels, a Canadian bank, Royal Bank of Canada (RBC), ranks #1 as the worst financier of fossil fuels.
- The top bankers of liquefied “natural” gas (LNG) in 2022 were Morgan Stanley, JPMorgan Chase, Mizuho, ING, Citi, and SMBC Group. Overall finance for LNG increased 49% from $15 billion in 2021 to $22.6 billion in 2022.
- According to Rystad, the oil and gas industry’s own database, while there was a drop in fossil financing in 2022, as the fewest (other than 2020) projects reached Final Investment Decision (FID) since 2015, industry projections are that 2023 and 2024 will be the largest years for approvals (via barrels of oil equivalent).
If you’d like to learn more or get involved with Rainforest Action Network, please visit their website, or follow them on Facebook, Twitter, Instagram and TikTok.
