Ahead of COP 26, Worldwide Mobilizations Launched to Demand Big Banks End Fossil Fuel Destruction

Friday marked the start of a suite of coordination global actions by climate activists demanding financial institutions stop backing fossil fuel projects.

"Financial institutions who run our economies... must do their part by halting all of their funding of climate chaos."

"The era of fossil fuels is over, and people are rallying against fossil finance and those who run it," said Farzana Faruk, climate justice activist from Fridays for Future Bangladesh, and member of the Most Affected Peoples and Areas (MAPA), in a statement.

Faruk urged "decision-makers and financial institutions to seize the opportunity to speed up climate action and build healthier, more equitable societies and resilient economies" and called it "past time for rich countries and financial institutions to fund the energy transition we need fast and at scale."

The wave of actions--slated to take place in over two dozen countries--kicked off two days before the United Nations COP 26 summit in Glasgow, Scotland. Protest, rallies, and other activities are set to continue through the summit's mid-point on Nov. 6.

Among the U.S. events taking place Friday is the "Fed Up!" climate justice march and rally outside the Chicago branch of the Federal Reserve.

In London, meanwhile, activists on Friday targeted Lloyd's of London's, where they vowed to "shed light on [the institution's] appalling environmental record, and the colonialist practices Lloyd's wealth grew from. From the insurance of slave ships, to the insurance of climate-destroying projects that dispossess indigenous peoples of their land, Lloyd's have blood on their hands."

Actions also took place in major cities around the world, including Sydney, Frankfurt, and Paris.

"Urgent collective action is required, especially for the most affected nations and communities," said Joseph Sikulu, 350.org Pacific managing director, in a statement. "Financial institutions who run our economies, especially banks in developed countries, must do their part by halting all of their funding of climate chaos, and directing resources to climate finance for adaptation and mitigation."

"COP 26 will be a pivotal event," he added, "and failure to deliver on its goals means bringing literal disaster not just for Pacific Islanders but for communities across the world."