Around thousand people take to the streets for climate justice and financial regulation

Basel, June 24, 2023 - Around thousand people gathered in Basel on Saturday to march through the city against fossil fuel financing. The colorful march is led by indigenous and frontline activists from the Global South - also joining the march are activists from Fridays For Future and the Swedish climate activist Greta Thunberg.

Peoples' Forum march

© Franziska Stier

The Peoples' Parade started at the Kaserne in Basel and is currently moving through the city up to the doors of the tower of the Bank for International Settlements (BIS). With the parade, the demonstrators demand from the BIS to take responsibility and direct the actions of the world banks to a more just and sustainable direction. At the De Wette Park, the conclusion of the demonstration will take place around 4:30 p.m., where the petition for an end to fossil finance with over 56,000 signatures will be delivered to the BIS.

"We are calling on financial regulators to listen to the science and put the protection of people and planet over profit," says Leyla Larbi, campaign director for the international NGO Ekō - one of many organizations that launched the petition just over a week ago.

Oil and gas projects cause suffering around the world

From Senegal to Colombia, bank-funded oil and gas projects are destroying vulnerable coastal areas and indigenous First Nations territories - putting both people's health and livelihoods at risk. The adoption of the one-for-one rule by the BIS - higher capital requirements for all new fossil fuel projects - would be one way to bring costs back to polluters. Further, banks and financial regulators should commit to respecting the rights of communities and indigenous peoples.

Today's Peoples' Parade through Basel is the culmination of the Forum for Climate Justice and Financial Regulation, which has been underway since Thursday.

Photos of the demonstration will be added to this folder on an ongoing basis:

To the petition for an end to fossil finance