CHICAGO (WBBM NEWSRADIO) — On Black Friday, members of the group Rising Tide Chicago (RTC) stood on the corner outside Chase Bank on Michigan Avenue and protested a practice by the bank that the climate activists called “greenwashing.”
“We’re just trying to, on this day that is specifically celebrating consumerism, to get the word out about how people who bank with Chase may not realize where their dollars are going,” said Collin Crowley, who’s with RTC.
Crowley described greenwashing as a “deceptive practice” where companies hope investment in environmentally friendly initiatives will keep the public’s focus away from investments in fossil fuels.
“[Chase Bank] uses these greenwashing practices to make it seem like it’s an eco-friendly company,” Crowley said.
In response, a Chase Bank spokesperson told WBBM that their current efforts are putting them well on their way to a target of $1 trillion for green initiatives over the next 10 years.
“In 2021, we facilitated more than $100 billion for green activities like renewable energy, energy efficiency and sustainable transportation, doubled our green investment banking activity and were the largest underwriter of green bonds,” the Chase spokesperson said.
Local climate activist Jessy Bradish said those efforts don’t cancel out the investment Chase has made in fossil fuels.
“To me, the main issue is that Chase is the top funder of new fossil fuel projects,” said Bradish. “They are currently investing tens of billions of dollars every year in new fossil fuels. We actually can’t do that and keep a livable climate, so they need to stop greenwashing.”
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