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One rule to keep fossil fuels in the ground

Right now, the European Parliament is considering the ‘one-for-one’ capital requirements rule. This would make it incredibly hard for new fossil fuel projects to get funding and can help us achieve the kind of systemic change we desperately need. 

For every euro invested in fossil fuels, EU companies would need to match it by another euro to cover any future losses. This forces financial giants to build their own safety net rather than rely on government bailouts, or in other words, our money.

Sign to tell the European Parliament: 'We call on you to support the 'one-for-one' rule for new fossil fuel projects. Fossil fuels are extremely risky for our economies and jeopardise our planet. Your job is to keep the banks and insurers away from recklessly funding them and protect our future."

This petition is a collaboration between 350.org and SumOfUs.

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Will you join us to call on the European Parliament to support the "one-for-one" rule for new fossil projects?

The rule is already there, we simply need to encourage the Parliament to add fossil fuel projects to the list of “high-risk” investments but the oil and gas lobbyists are out in full force as usual and we need to counter their influence. 

Together with hundreds of thousands of Europeans, partner NGOs, scientists and politicians, we have pushed the EU to pass stricter laws on green investments, and forced the ECB to review its dirty monetary policy investments. Today, the “one-for-one” rule can stop banks and insurers from fueling the climate crisis and the next financial meltdown.

Let’s make fossil fuels too difficult to bankroll. Urge the EU Parliament now to change the rules and bring about the systemic change we all need. 

 

Will you join us to call on the European Parliament to support the "one-for-one" rule for new fossil projects?

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