What we do: Financing the climate collapse

In the world of financial institutions, the fossil fuel industry still enjoys great support. If we are to avoid the worst effects of the climate crisis, we need financial institutions to stop supporting coal-fired power stations and to refuse to participate in the planned development of gas infrastructure, waste incineration, unsustainable biomass management and other unethical activities of fossil fuel companies.

As environmentalist Bill McKibben said, "money is the oxygen that allows the fires of the climate crisis to burn." We watch-dog banks and insurance companies that continue to support fossil fuel companies despite their demonstrably devastating impacts. We decry greenwashing - refusing to allow companies profiting from climate collapse to be celebrated as part of the solution.

Both fossil fuel companies and the financial sector that supports them almost always operate on a transnational level. We work with like-minded organisations across Europe and we respond to that with international solidarity. We have established a network of climate organisations, movements and individuals dedicated to linking the financial sector and the fossil fuel industry in Central and Eastern Europe. We educate each other, share experiences and develop joint strategies.

Since 2021, we have been coordinating the Let's Stop Dirty Money coalition, working with other organisations to find a quick and fair solutions to the climate crisis. It draws attention to the role of financial institutions, especially banks and insurance companies, in exacerbating the climate crisis. Together we are pushing for banks and insurance companies to shift their resources away from supporting the fossil fuel oligarchs towards a clean and fair future economy that serves everyone. We have organized dozens of protest actions in many cities across the country and abroad, and we are part of an international movement to redirect finance away from the fossil fuel industry and towards a future economy based on sustainability and justice. Thanks to our pressure, the largest Czech insurance companies have also tightened their climate commitments. We share our experience through many action and strategy workshops.

Climate Justice

Global heating caused by two centuries of economic growth based on ever-increasing consumption of fossil energy causes escalating disruptions to our climate which endanger both human welfare and the long-term habitability of our planet. We are in the middle of a climate crisis - manifesting itself also in the current European droughts - which weighs heaviest on socially disadvantaged groups of people and thus deepens the already gross social inequalities. This is true both within the Czech republic, and throughout the world, where the changing climate has the worst impact on the poor countries of the Global South.

Housing

The share of tenants in the housing market is constantly growing, and in large cities in the Czech Republic they currently account for up to a third of the population. Their protection, however, is minimal. Rental prices are rising much faster than salaries and lease contracts are usually concluded for only one year, sometimes even less. People in rented accommodation are therefore living in constant insecurity and their housing costs are increasing.

Democratization of energy

There are approximately one million people living in energy poverty in the Czech Republic and we are one of them. The energy crisis is causing major energy companies, including fossil fuel companies, to make record profits, while consumers face ever-increasing energy costs. Decarbonising the energy sector and fundamentally transforming the energy market are essential to avoid the worst impacts of climate change. However, if we remain passive consumers, we will continue to be exposed to market fluctuations and uncertainties.

Education

Our educational projects open up debate about the causes of social and environmental problems and develop the skills needed to solve them. We organise ourselves according to the principles of self-management and organise training courses in which we introduce self-management and help to apply it in practice. We use non-formal education methods and learn from each other.

Solidarity Economy

What is the economy and what or who is it for? The original meaning of the word refers to "household management". A well-managed economy could administer our planetary “household” to meet the needs of all within the boundaries of our planet. Instead, the current economy hoards meaningless wealth in the hands of a few, while denying access to basic needs for the majority and devastating the ecological foundations of life on our planet.

Financing the climate collapse

In the world of financial institutions, the fossil fuel industry still enjoys great support. If we are to avoid the worst effects of the climate crisis, we need financial institutions to stop supporting coal-fired power stations and to refuse to participate in the planned development of gas infrastructure, waste incineration, unsustainable biomass management and other unethical activities of fossil fuel companies.