BETTER OPTIONS
How Large Companies and Nonprofits Can Select a Climate-Aligned Credit Card Partner
Large companies and nonprofits ― including Costco, L.L.Bean, Alaska Airlines, the Susan G. Komen Foundation, Expedia, Amazon, and more ― have co-branded credit card partnerships with the largest funders of fossil fuels in the world: JPMorgan Chase, Citibank, Bank of America, and Wells Fargo. But for companies that care about addressing their climate impact, there are better options.
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KEY FINDINGS
There are better options
Out of the 20 largest credit card issuers in the United States, eight financial institutions have not provided large-scale financing to the fossil fuel industry between 2021-2024.
Because these financial institutions have not financed fossil fuel expansion, they are aligned with the International Energy Agency's (IEA) pathway to Net Zero.
And there are worse options
Twelve credit card issuers provided billions to the fossil fuel industry, including fossil fuel expansion, between 2021-2024.
In 2021, the IEA concluded that, in order to reach Net Zero by 2050, there can be no new upstream coal, oil, and gas development. Therefore, financial institutions that are providing billions of dollars to fossil fuel expansion are incompatible with a Net Zero by 2050 pathway.
RECOMMENDATIONS FOR COMPANIES AND NONPROFITS
Large Companies and Nonprofits Should Integrate Climate Performance into Credit Card Partner Selection Process
Just as companies and nonprofits that have climate commitments care about selecting climate-aligned supply chain partners, they should also select a climate-aligned credit card partner. They can do that by taking these three steps:
1: Evaluate your current credit card partner
Evaluate your current credit card partner on climate performance indicators and commit to incorporating an assessment of climate performance into your next credit card partner selection process.
2: Draft climate criteria
Draft climate criteria and incorporate that criteria into your next credit card partner selection process. Here is our recommended criteria, which is based on the IEA's Net Zero by 2050 pathway:
  • The financial institution has not provided financing for fossil fuel expansion since 2021.
  • The financial institution has decreased fossil fuel financing by an average of 9% annually since 2021.
  • The financial institution has increased sustainable energy financing by an average of 15% annually since 2021.
  • The financial institution has provided six times the amount of financing to sustainable energy relative to its fossil fuel financing since 2021.
3: Perform additional due diligence
Perform additional due diligence and consult with contract and procurement experts:
There is a world of expertise on the credit card partner selection and procurement process. Companies and nonprofits should do their own due diligence to assess the performance of financial institutions across multiple indicators, such as consumer protection violations, customer benefits, interest fees, and other criteria, which are beyond the scope of this report.
COSTCO: CLEAN UP YOUR CREDIT CARD
JOIN THE CAMPAIGN
SIGN THE PETITION
Join 45,000 people, including 20,000+ Costco members, in calling on Costco to clean up its credit card partnership with the climate-wrecking Citibank.

If enough of us speak up, Costco will listen. Sign the petition — and then join us for the campaign call on Thursday, Feb 26th.
JOIN CAMPAIGN CALL
Save your spot on the Costco: Clean Up Your Credit Card Campaign Call on Thursday, Feb 26th at 5pm PT / 8pm ET.

On the call, you'll learn about how you can use your power to make sure large companies and nonprofits hear loud and clear: there are better credit card options.
REPORT AUTHORS
ENDORSEMENTS
National and International Organizations
Amazon Watch
Action Aid USA
Campus Climate Network
Climate Defenders
Earth Guardians
Elders Climate Action
Green America
Green Faith
Hip Hop Caucus
Sierra Club
Stand.earth
Urgewald
Youth Climate Finance Alliance
1000 Grandmothers for Future Generations
350 Network Council
Regional and Local Organizations
Climate Conversation Brazoria County
Climate Families NYC
Climate First!, Inc.
Connecticut Citizen Action Group
Earth Ethics, Inc.
For a Better Bayou
Giniw Collective
Gulf of Mexico Youth Climate Summit
Gulf South Fossil Finance Hub
Houston Climate Justice Museum
MARBE SA
Mazaska Talks
New York Communities for Change
Oil & Gas Action Network
Planet Over Profit
Scientist Rebellion Turtle Island
South Seattle Climate Action Network
Texas Campaign for the Environment
Third Act Arizona
Third Act Colorado
Third Act Georgia
Third Act Lawyers
Third Act Maine
Third Act Maryland
Third Act Massachusetts
Third Act New Jersey
Third Act New Mexico
Third Act New York City
Third Act Ohio
Third Act Oregon
Third Act Pennsylvania
Third Act Southern California
Third Act Texas
Third Act Upstate New York
Third Act Virginia
Third Act Washington State
THIS! Is What We Did
Troublemakers
Vessel Project of Louisiana
Washington Physicians for Social Responsibility
7 Directions of Service
350 Sacramento
350 Seattle
350 Silicon Valley
350 Vermont
350 Wisconsin
350 Yakima Climate Action
350 Hawaii
350 New York City
CONTACT US
If you have any questions about the data, methodology, next steps, or ways to take action, please reach out to us at info@stopthemoneypipeline.org