At 12:30pm yesterday over 25 people dressed as “Billionaires for Dirty Energy” blockaded the main entrance of Citibank’s Upper East Side headquarters in New York City. Protesting Citi’s role at the lead financier to the dirty coal industry - two were arrested after chaining themselves to the front doors and refusing to leave.
Dressed in tuxedos and top hats, Billionaires are demanding Citibank shift their large-scale investments in coal-fired power plants due to coal’s increasing investment risk. “Coal has lost its appeal as a predictable investment; it is fraught with uncertainty” said Billionaire, Lauren Valle, prior to being arrested by NYPD. “Bottom-line, CITI is mortgaging our future and compromising their own long-term competitiveness.”
Billionaires held large signs reading: “Coal=Too Risky, Citi We Want our Money Back.”
“Climate change will be a major investment theme of the future” said Scott Parkin of Rainforest Action Network. “You don’t have to care what global warming will do to the climate to make a bucket load of money by preparing.” Other notable billionaires that have turned to clean energy for their investment potential include, CEO of GE Jeffrey R. Immelt, Walmart CEO H. Lee Scott, and maverick oilman Boone Pickens.
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