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U.S. Climate Groups Call On Kerry to Shut Off Wall Street Funds

“We must recognize that Wall Street isn’t yet an ally,” the groups wrote in five-page letter.

A coal-fired power plant in Conesville, U.S.
A coal-fired power plant in Conesville, U.S.Photographer: Dane Rhys/Bloomberg
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Climate groups are calling on John Kerry to shut off the flow of money from Wall Street to the fossil-fuel industry and acknowledge the role of U.S. finance firms in warming the planet.

A total of 145 organizations, including the U.S. divisions of Friends of the Earth and Greenpeace, wrote to Kerry, the special presidential envoy for climate, requesting his support in addressing the contribution that banks and investors make to climate change by financing companies involved in fossil-fuel extraction and deforestation. If the U.S. is to be a global leader on climate issues, it must take action to cut off the money pipeline to polluters, the groups said.