Fossil Free Federal Reserve Campaign Confronted Fed Chair Jerome Powell at Jackson Hole Economic Policy Symposium

Building on the momentum of President Biden's historic climate legislation, leaders with 350.org, 350 Colorado, Wyoming Chapter - Sierra Club and Jackson Hole Sunrise pushed for more action from our government's key agencies to stop investments in fossil fuels. The Fossil Free Federal Reserve campaign and local climate groups took to the streets at the annual Jackson Hole Economic Policy Symposium to tell leaders that the Fed must do more to protect the climate, gaining major media attention.

350.org made headlines by confronting Fed Chair Jerome Powell at the Jackson Lake Lodge, urging him to use powers available to the Fed to take action to address the climate crisis setting portfolio limits and penalties on fossil fuel finance for financial institutions. This action followed multiple efforts by 350 to request meetings at the Symposium with Fed representatives, all of which were either ignored or outright rejected by the Federal Reserve, who referred to outdated and toothless statements made a year ago.

Tee McClenty, Executive Director, MN350, made the following statement:
"As climate impacts devastate our communities, the Federal Reserve made it clear this week that climate was not a top policy priority. When we ran into Fed Chair Jerome Powell at the Symposium and requested to speak with him about climate and the economy, he refused and walked away. But our work will not stop here - we will keep pushing until climate is a key priority for the Fed. As a top banking regulator, the Fed must work to shift finance away from fossil fuels and towards an economy powered by renewable energy. Our banks should not be financing harmful fossil fuel projects. It is time for a reinvisioned role for the Fed within our economy - and one that accounts for climate risk and protects communities."

WHAT; Climate action highlights:

• Weds., August, 24:
• Activists confronted Fed Chair Jerome Powell, politely asking for the Fed to do more on climate
• Thurs., August, 25:
• Climate activists with signs and RV with huge "climate" banner greeted arriving bankers and Symposium attendees outside Jackson Hole Airport, in Jackson Hole, and along highways to highlight the importance of addressing climate.
• Climate campaigners with signs "welcomed" bankers outside of Jackson Lake Lodge
• Bicycle caravan by Sunrise Jackson with climate protest signs rode from the Tetons entrance to the Rally and Press Conference
• Rally, speeches & Press Conference at Jackson Hole Lodge as Symposium attendees arrive for opening speech by Fed Chair Jerome Powell
• Fri., August, 26:
• 2pm and 6pm Rally and speeches at Jackson Lake Lodge as attendees arrived for Symposium
• Sat., August, 27:
• 6pm Rally at Jackson Lake Lodge as attendees arrive for Symposium

WHERE: Jackson Lake Lodge, Grand Tetons National Park, Jackson Hole, Wyoming

WHO: The Fossil Free Federal Reserve campaign, including organizers with 350.org, 350 Colorado, 350 Minnesota, Sierra Club-Wyoming, and Sunrise Jackson Hole.

VISUALS: Confronting Fed Chair Jerome Powell, RV with large banners, bike brigade with flags, rally and speak-out at Jackson Lake Lodge, placards, t-shirts, cut-outs and more!

Quote Sheet:

Emily Park, Federal Reserve Campaign Manager, 350.org and 350WI, said,
"Our rally here in Jackson Hole has re-energized my commitment to advocating for a climate-resilient economy. We hope that as the central bankers and other people in positions of power have gathered here in Grand Teton National Park, they've had the chance to appreciate the beauty, but also the devastating impacts of the climate crisis - dry marinas, melted glaciers, drought-stricken ecosystems, and more. We hope they are starting to realize that real people's lives and livelihoods are at risk, and that the climate crisis will continue to destabilize our economy. When they return to Washington DC, or their ivory towers, we urge them to remember our words and to incorporate climate risk into all of the Federal Reserve's actions going forward."

Giselle Herzfeld, Defunding Climate Disaster Coordinator, 350.org Colorado said,
"Here in the U.S. and across the world, communities are being disrupted by unprecedented climate impacts. From droughts and wildfires to floods and hurricanes, the future is looking increasingly bleak if we do not rapidly end fossil fuel financing and invest in climate solutions. The Federal Reserve is supposed to account for risks to the U.S. economy; yet, they have continued to allow banks to finance the drivers of climate catastrophe. Over the last few days we've made our message clear to the Federal Reserve. The time is now for them to stop making excuses and account for climate risk, end fossil fuel financing, and support sustainable solutions!"

Micah Parkin, Executive Director, 350.org Colorado, said,
"People across the Mountain West gathered for the Federal Reserve's Economic Symposium to call on our central bank and other leaders across our nation and globe to enact the needed policies to transition investments in fossil fuels to investments in a clean renewable energy future."
"Wildfires, droughts, extreme temperatures and other impacts of the climate crisis are already devastating people across our region and the world. These impacts cost our nation over $145 billion last year alone, so we need the Federal Reserve to manage this threat to our economy and reign in the banks fueling the crisis. We were glad to hear that climate was a topic of discussion for this year's symposium and hope that it will be central to their future discussions."