Taking part in the largest climate march in history, Sen. Chuck Schumer (D-N.Y.) said that Wall Street bankers will only act on climate change if people organize to make them do so. He also expressed succinctly the climate-policy challenge: “We have to stop CO2 from hurtling into the atmosphere.”
During the PeoplesClimate.tv livestream of the People’s Climate March, Hill Heat’s Brad Johnson caught up with Schumer as he chatted with billionaire climate activist Tom Steyer. The senator said that action from pension funds is needed to get Wall Street to stop financing fossil fuels, because the bankers will not lead.
“The leadership has to come from the people,” Schumer told me. “Pension funds could do a lot.”
Wall Street plays a tremendous role making New York one of the richest cities in the world. It drives the global economy, which is powered on fossil fuels. Even as Mayor DeBlasio is working to decarbonize the city’s energy supply, carbon financier David Koch is the richest man in the city. Meaningful global action on climate change, the type Schumer called for, will require Wall Street to fully divest from financing the fossil-fuel industry. Although pension-fund and other private action is helpful, what is truly needed is legislative action from Congress.
PeoplesClimate.tv is a project of Act.tv, the web video activism site.
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Occupy Wall Street activists are planning to “occupy” the
