Aug 1, 2021-2021
United Kingdom
Race to Disaster
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ACTIVISTS/ACT.GROUPS/DESCRIPTION OF THE GROUP
Market Forces
TARGET
UK banks investing in fossil-fuel energy
WIDELY HELD BELIEF
That large banks continuing to invest in fossil-fuel energies will damage the environment.
CASE NARRATIVE
Issue and Opponent: The issue was that banks continued to invest in fossil-fuel companies while claiming to support green initiatives. The Race to Disaster campaign was meant to raise awareness of how much the top 4 UK banks invested in fossil-fuel technologies.
Dilemma Action: In the run-up to COP26, Australian environmental activist organization Market Forces stood outside of Barclays offices, dressed in Formula One uniforms, handed out flyers, and educated passing viewers on the environment-damaging investments of three banks: Barclays, Standard Chartered, and HSBC. In Formula One fashion, they revealed Barclays as the winner of their “race to disaster” winner on November 2, 2021.
Outcome: Barclays spokesperson has pledged to reduce the presence of fossil-fuel companies in its investment portfolio by 2025. No major changes have been made yet. Occurred during the same period as other protests leading up to COP26 Summit, although it was independent of the other movement taking place.
PRIMARY STRUGGLE/GOAL
NONVIOLENT TACTICS USED
DA TACTICS USED
Mock awards
CASE NARRATIVE WRITER
SUCCESS METRICS
8 / 12
(MC) Media Coverage
(MSYMP) Media coverage was sympathetic to the activists
(OR) Opponent response
(PS) Dilemma action built sympathy with the public
(REFR) Dilemma action reframed the narrative of the opponent
(RF) Dilemma action reduced fear and/or apathy among the activists
(SA) Dilemma action appealed to a broad segment of the public
Laugtivism
PART OF A LARGER CAMPAIGN
0 / 3
RESOURCES
Project documentation
Dilemma Actions Coding Guidebook
Case study documentation
Dilemma_Actions_Analysis_Dataset
SOURCES
Anon. 2022. “Race to disaster: Barclays, HSBC & Standard Chartered.” Market Forces UK. Retrieved July 23, 2023. https://marketforces.org.uk/race-to-disaster/.
Westwater, Hannah. 2021. “Climate campaigners prepare “prize” for banks funding fossil fuels at COP26.” The Big Issue, August 19. Retrieved July 23, 2023. https://www.bigissue.com/news/environment/climate-campaigners-prepare-prize-for-banks-funding-fossil-fuels-at-cop26/.
McGibbon, Adam. 2021. “UK banks competing in “Race to disaster” ahead of UN climate talks.” Market Forces UK, August 19. Retrieved July 23, 2023. https://marketforces.org.uk/news/uk-banks-competing-in-race-to-disaster-ahead-of-un-climate-talks/.
Ambrose, Jillian. 2021. “Barclays has financed $5.6bn in new fossil fuel projects since January.” The Guardian, November 2. Retrieved July 23, 2023. https://www.theguardian.com/business/2021/nov/02/barclays-has-financed-56bn-in-new-fossil-fuel-projects-since-january-cop26.
Williams-Grut, Oscar. 2021. “Barclays slammed for oil and gas lending as mayor urges “bold” action.” Evening Standard, November 2. Retrieved July 23, 2023. https://www.standard.co.uk/business/cop26-barclays-market-forces-fossil-fuels-oil-gas-lord-mayor-of-london-b963866.html.
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