Interrupting a Women in Technology event the activists underscored the bank’s hypocrisy in promoting equality while endangering billions of lives with their fossil fuel investments.
Video of the protest available to download here
Dublin, 24th March 2023: Yesterday evening, five climate activists with Extinction Rebellion Ireland interrupted the proceedings of J.P. Morgan’s Women in Technology event in their offices at Sir John Rogerson's Quay to highlight the company’s guilt in escalating the climate crisis through J.P. Morgan Chase’s role as the world’s top banker in fossil fuels. They demanded that J.P. Morgan divest from all fossil fuel companies and declared that “There are no women in tech on a dead planet”.
With about 40 mostly young women in attendance and panelists seated on-stage ready for the panel discussion to begin, the five female activists seated around the room stood up in sequence, interrupting the host’s introduction. Each activist made a succinct speech, building the case for why attendees should reject J.P. Morgan as a potential employer. They described J.P. Morgan as “part of the machinery that is funding climate chaos and driving the destruction of our planet”, and emphasized the disproportionate effect of climate disasters on women. They also urged existing employees of the company to demand that their employer divest from all fossil fuel companies.
After their speeches they chanted “J.P. Morgan pick a side, divest now or ecocide” and made their way to the front of the room where they displayed flags with the Extinction Rebellion logo and signs bearing “Women for Climate Action” and “J.P. Morgan Divest”. Eventually the organisers had no choice but to guide attendees out of the room, relocating the event upstairs. The activists remained to talk to staff about their responsibility in the company, before leaving peacefully.
This week saw the release of the 6th United Nations Intergovernmental Panel on Climate Change Assessment Report (AR6) containing the stark warning that “There is a rapidly closing window of opportunity to secure a liveable and sustainable future for all”. The AR6 Summary for Policymakers states “The choices and actions implemented in this decade will have impacts now and for thousands of years.” It adds that “public and private finance flows for fossil fuels are still greater than those for climate adaptation and mitigation”.
One of the five activists, UCD student Sineaid Whelan, stated “The message from the world's climate scientists couldn’t be clearer. We must immediately slash emissions if we’re to avoid apocalyptic scenarios of climate catastrophe. With our outbursts at this J.P. Morgan event, we jolted the hosts and attendees out of business as usual. Every one of us can and must stand up to the forces of evil that are driving the climate crisis forward. And J.P. Morgan is one of those forces. More of us must demand that they divest from fossil fuel companies.”
According to the Banking on Climate Chaos 2022 report, J.P Morgan invested USD 382.4 billion in fossil fuels in the period 2016-2021, beating out the next biggest financier of fossil fuels by 35%. Their financing in that five year period included USD 225.71 million in the Adani Group which owns the Carmichael coal project - an enormous fossil fuel project violating Indigenous Rights in central Queensland in Australia. In that period they also financed Gazprom, the Russian majority state-owned energy corporation and fossil fuel giant Exxon Mobil Corporation to the tune of USD 4.6 billion and USD 15.3 billion respectively.
Yet sustainability features prominently on J.P. Morgan’s website. Their stated sustainability commitments include a goal of “transitioning to a low-carbon economy”. However, the company increased their fossil financing by $10 billion between 2020 and 2021. In her speech at the event, Emer Connolly of Drumcondra highlighted the company’s greenwashing. In a statement she said “J.P. Morgan claim they’re taking climate action, but this is pure greenwashing because, of all the banks, they are by far the biggest funder of fossil fuels.“
Other activists at the event pointed out the double-standard of J.P. Morgan trying to attract women to the company, when women make up the majority of the world’s poor and are disproportionately impacted by climate change that is driven in large part by the company’s investments in fossil fuels. They also pointed out estimates that 80% of people displaced by climate change are women - which leads to violence, sexual violence & human trafficking.
Student Síofra Byrne, Dublin said “This is what we know. Fossil fuel emissions are causing climate change. Climate change is endangering the lives of billions of women. J.P. Morgan is funding those fossil fuels. And their answer is to hire more women? If you want the world to be a better place for women then stop setting it on fire.”