Chase Bank opens in Northampton, sparking climate protest - MassLive.com
Chase Bank opens in Northampton, sparking climate protest - masslive.com
In the blazing morning sun, locals and environmental groups held up signs and chanted outside of Chase Bank’s new Northampton location on Tuesday.
“This is part of a national campaign to pressure the big banks to stop investing in climate destruction and start investing in clean energy,” said Susan Theberge, co-founder of environmental organization Climate Action Now.
Tuesday was the bank’s grand opening, according to a Chase spokesperson. The spokesperson declined to comment on the protests.
A JPMorgan Chase spokesperson said in a statement to MassLive in March that the bank “facilitated more than $175 billion for green activities like renewable energy, energy efficiency and sustainable transportation” over the last two years, part of a goal to spend $1 trillion on green initiatives this decade. He also said the bank was reducing its carbon footprint and would help “the world meet its energy needs securely and affordably.”
Over 35 people of varying ages showed up giving out pieces of paper or “big bucks” asking residents to not bank at Chase, stating that “racial and social justice, and our climate are on the line.”
Theberge said the turnout was better than she anticipated, given how last minute the rally was put together and the fact that it was on a weekday in the morning when some individuals were at work.
Protesters outside Chase Bank in Northampton.
This isn’t the first time Chase’s Northampton location sparked outrage and protest. In March, environmental groups protested outside the branch location, the former home of the First National Bank and Silverscape Designs jewelry store citing the same concerns.
“We’re not saying to leave or anything like that,” Theberge said, referring to Chase. Rather, Theberge and protesters are hoping Chase and its parent company, JPMorgan Chase, divest from fossil fuels.
The environmental group said the banks are the leading contributors to the fossil fuel industry.
Protestors outside Chase Bank in Northampton.
Theberge said during the protest, less than a dozen people entered Chase despite it being the bank’s grand opening. The “high spirited” and “positive” event also rallied the honks of many cars passing by, Theberge said.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”