The climate rebels embarrass the company by pointing out to event attendees the title sponsor’s status as #1 financier of fossil fuels since the Paris Agreement

Dublin docklands, 16th June 2023: Extinction Rebellion Ireland (XRI) activists made things uncomfortable for J.P. Morgan - title sponsor of the annual docklands 5K run - throughout yesterday evening’s event. About 20 activists wearing bibs saying “JP Morgan, Climate Chaos Champion” and “JP Morgan, Divest from Fossil Fuels" engaged with participants and onlookers about the sponsor’s status as the number one financier of fossil fuels since the signing of the Paris Agreement, with financing totalling $434.1 B from 2016 to 2022 and its huge investments ($17.9 B) in the top 12 major oil and gas expansion companies. Their large, colourful “J.P. Morgan - sponsoring 5Ks and Climate Chaos” banner drew a lot of attention from the runners as they waited for the race to kick off. The slogan contrasted the resources the company pumps into fossil fuels - the main source of the greenhouse gas emissions driving the climate crisis - against sponsorship of a community event as an attempt to launder their image.

Taking care not to impede any runners, the activists handed out leaflets headed “J.P. Morgan sponsoring the escalating climate crisis”. They also chanted “J.P. Morgan pick a side - Divest now or ecocide”. Jeffrey Seathrún Sardina, PhD researcher, XRI activist who competed in the 5K said "Our demand that JP Morgan divest from fossil fuels is, at its core, an act of self-defence. All of nature is under threat, and every euro they put into dirty energy is another attack on the natural world. This needs to stop."

The latest (March 2023) United Nations IPCC report states that “Human-caused climate change is already affecting many weather and climate extremes in every region across the globe” and that “Risks and projected adverse impacts and losses and damages from climate change escalate with every increment of global warming”.

It states that greenhouse gas emissions from existing fossil fuel infrastructure is already more than enough to push the world beyond 1.5°C of global heating compared with pre-industrial times. This means that no more fossil fuel sources can be opened if we’re to avoid a significantly worsening climate crisis. Three billion people live in areas that are “highly vulnerable” to climate breakdown and half of the global population now experiences severe water scarcity for at least part of the year. It warns that in many areas, “we are already reaching the limit to which we can adapt to such severe changes”.

Activists requested event-goers sign XRI’s petition calling on the Irish Funds Industry Association to expel J.P. Morgan and 13 other major global banks and asset management companies that are among the top funders of fossil fuels. These include Amundi, BlackRock, BNY Mellon, Invesco, LGIM, State Street, UBS, Vanguard, Bank of America, BNP Paribas, Citi Bank and RBC.

All the proceeds from the event went to Crusaders Athletic Club. XRI will be communicating with the club to ask them to revise their sponsorship policy to exclude companies with ties to development of fossil fuels. Semi-retired EFL teacher, Art Ó Laoghaire, currently on remand facing charges related to a climate protest in 2019 said, “I ask Crusaders to think in the future, do they want to be part of the solution to the crisis, or part of greenwashing the problem. And with the climate crisis escalating, how long before it gets too hot for athletes to compete in these 5Ks?”

XRI’s Docklands 5K action follows protests earlier this year demanding divestment from fossil fuels at the Dublin offices of BlackRock, J.P. Morgan and Citi bank and at the Irish Funds Global Funds Investment Conference.

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