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

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