Extinction Rebellion (XR) is set to launch a new wave of protests in the City of London starting next week, targeting the financial sector's role in the climate crisis. The demonstrations, expected to last at least two weeks, will focus on businesses in the Square Mile and are planned to include site occupations, though details remain undisclosed. Organisers have stated that public transport will not be disrupted, unlike some previous actions.
XR claims that businesses listed on the London Stock Exchange or financed from the UK account for approximately 15% of global carbon emissions. The group argues that if London's financial markets were a country, they would be the world's ninth largest emitter. Protests aim to highlight the billions invested in fossil fuels and high-carbon activities by financiers based in the capital.
Anneka Sutcliffe, an XR member, said at least 2,000 people have recently signed up, with nearly half estimated to be new to the movement. The protests will begin with a rally in Trafalgar Square on Monday, 23 August, coinciding with the International Day for the Remembrance of the Slave Trade and its Abolition. XR stated the events also aim to show solidarity with people in the global south affected by climate breakdown.
Esther Stanford-Xosei, co-founder of XR's International Solidarity Network, described the financial sector's promotion of fossil fuels as “Empire 2.0” and called for holding corporations and governments accountable. Jon Lynes, a 93-year-old veteran protester, criticised the government's actions ahead of the COP26 climate talks, citing cuts to overseas aid and approval of new fossil fuel projects.
Tim Crosland of Plan B, who was found in contempt of court for revealing a Supreme Court ruling on Heathrow's third runway, targeted the City as a key contributor to the crisis. He dismissed claims by some Conservative MPs that reaching net zero by 2050 would be too costly, calling such views “extremist ideology.” The City of London Police confirmed a policing plan is in place to balance protest rights with public order.
