{"id":89286,"date":"2025-08-24T10:03:42","date_gmt":"2025-08-24T10:03:42","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/89286\/"},"modified":"2025-08-24T10:03:42","modified_gmt":"2025-08-24T10:03:42","slug":"jp-morgan-allianz-hit-by-activists-over-support-for-fossil-fuels","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/89286\/","title":{"rendered":"JP Morgan, Allianz, hit by activists over support for fossil fuels"},"content":{"rendered":"

Activists have took aim at fossil fuel<\/a> finance, declaring the start of \u201cdisruption like never before\u201d, readying for a \u2018Summer of Sabotage\u2019. They begun with a direct action on Monday 18 August, sabotaging utilities infrastructure at the UK offices of three major fossil fuel investors \u2013 one of which was JP Morgan.<\/p>\n

A summer of sabotage against global deadly financiers like JP Morgan<\/p>\n

In the City of London, activists cut cables and superglued electrical service cabinets at JP Morgan Chase and Allianz:<\/p>\n

\"Activists<\/p>\n

\"Activist<\/p>\n

They demanded companies like JP Morgan stop financing the climate emergency and genocide in Gaza. Activists also targeted the Northampton HQ of Barclaycard, cutting the 5G communications mast serving the building:<\/p>\n

\"Activists<\/p>\n

Underground climate campaign \u2018Shut The System\u2019 took action to announce a period of sustained sabotage targeting key financial culprits in the climate emergency till the end of September. They call for civilians everywhere to join a \u2018Summer of Sabotage\u2019 by destroying the property and operating systems of financial institutions providing critical support to deadly industries globally.<\/p>\n

The launch action targeted JP Morgan and Barclays. The former is ranked<\/a> the world\u2019s largest banking investor in fossil fuels, while Barclays is Europe\u2019s largest fossil fuel financier. Allianz, who activists also targeted, is the sixth largest insurer of fossil fuels<\/a> and an insurer of<\/a> Elbit Systems. Elbit supplies an estimated<\/a> 85% of weapons Israel is using in its genocide in Gaza.<\/p>\n

Financing the climate crisis and genocide<\/p>\n

A spokesperson from Shut The System said on the action against JP Morgan and others:<\/p>\n

I am enraged by the financial sector\u2019s continued support for deadly industries. \u2018Just doing our job\u2019 wasn\u2019t an excuse in World War II and it isn\u2019t today. They have a choice of which industries they finance. I cannot bear to stand idly by while those in power continue to exacerbate global problems just so the wealthy few can make increased profits. It is unhinged, psychopathic greed at the expense of billions of people.<\/p>\n

Shut The System promises that if the financial sector ignores its demands, then by October it will escalate further.<\/p>\n

The group took similar action<\/a> in January, cutting the fibre optic cables of major insurance firms, disrupting internet speeds and causing<\/a> internet shut downs at offices in Leeds and Birmingham. It also later graffitied messages at the multi-million pound properties of three senior Barclays staff members. The same night, activists spray-painted, smashed windows, and super-glued door locks at more than 20 Barclays branches nationwide. This was to coincide with the morning of its annual general meeting in May.<\/p>\n

Another spokesperson said:<\/p>\n

We have been forced underground by draconian anti-protest laws. The British state has recently shown how much they are willing to suppress peaceful protest. History shows direct action and sabotage are highly effective so we cannot stop while the climate emergency wages on and we see the most hopeful path forward is to operate beyond the state\u2019s reach.<\/p>\n

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