Welcome, Costco. Thousands of Mainers have become members of Costco and will enjoy the benefits, but they should also be aware of the downside of using the Costco-Citi credit card. It’s the same downside for those who choose to use L.L. Bean’s Citibank Mastercard to earn Bean Bucks.
Citibank is the biggest funder of new coal projects in the world and is second only to Chase in funding new fossil fuel projects worldwide, according to an analysis by Rainforest Action Network, the Sierra Club and other environmental groups. Some of Citibank’s profits from its lucrative credit card business are helping to finance these planet-destroying projects.
Please understand, there is a direct line between use of an L.L.Bean or Costco Citibank credit card and the funding of new fossil fuel projects around the globe. You can decide to lower your carbon footprint through personal lifestyle choices such as supporting local agriculture and traveling less. Your choice of credit cards is also one of those choices and it has a greater impact. Local Maine banks and credit unions offer credit cards and invest in Maine projects. Bank locally and think globally.
Third Act Maine has asked Costco and L.L.Bean to disavow Citibank’s continuing support of new fossil fuel projects. So far, the CEOs of these companies have refused. We will persist.
Tom Mikulka
Cape Elizabeth
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.