Campaign Update: We Met with Costco’s CEO & VP About Its Credit Card Partnership with Citi

After a year of campaigning, we met with Costco’s CEO and senior VP. As a major client of Citibank, Costco has the power to influence the world’s largest funder of fossil fuel expansion to change course.

After a year of dedicated campaigning, I’m thrilled to share some incredible progress: Costco’s CEO and Senior Vice President agreed to meet with us. 

In late October 2024, I joined a small group representing Costco members, shareholders, petition-signers, and campaigners from Third Act, Stop the Money Pipeline, and the Vessel Project in discussion with Costco’s CEO and Senior Vice President. 

This campaign is personal for so many of us—I grew up riding around in the back of Costco’s (then ‘Price Club’s’) enormous shopping carts as a kid while my dad picked up supplies for his pizzeria (he still swears that Costco is the reason small business owners can stay afloat). But the stakes are much higher for others. Roishetta Ozane—who joined the meeting and is the founder of the Vessel Project on Louisiana’s Gulf Coast—relies on Costco to secure emergency supplies for her family and community whenever severe weather and hurricanes, intensified by climate change, threaten her home and the surrounding region.

The irony—and pain—is lost on no one. While Costco provides vital resources for communities like Roishetta’s, its credit card partner, Citibank, is actively financing the fossil fuel projects that exacerbate the climate disasters these communities face. This contradiction stands in stark contrast to Costco’s motto: “Do the right thing.”

Making our case at the meeting

During the meeting, we presented a strong business case for Costco to align its credit card partnership with its values. We outlined how Costco could integrate its banking partners into its Climate Action Plan, as it does with other suppliers and vendors. To support our case, we shared examples of major companies addressing their “financed emissions” and offered actionable steps for Costco to clean up its credit card partnership or consider a greener alternative.

In addition, we delivered over 3,000 handwritten postcards from Costco members, shareholders, and Third Actors like you; some were read aloud to ensure leadership truly heard their community’s concerns and commitment to this campaign.

Costco CEO Ron Vachris seemed genuinely engaged, asking lots of questions, and open to hearing our concerns. We could tell he cares what Costco members and shareholders think. Their VP later acknowledged that the postcards showed that people are deeply invested in this issue. While leadership takes time to consider the resources and recommendations we shared, we agreed to continue the conversation.

This progress is thanks to the sustained, friendly efforts of Third Actors, Third Act Working Groups, and deep collaboration with our partners like Stop the Money Pipeline, Climate Defenders, and Stand.earth. It reflects the power of collective action to influence even the largest corporations. Together, we’re showing that people power can create meaningful change, even with the world’s largest corporations. We’re encouraged by the engagement of Costco’s leadership, but we know the work isn’t done. We’ll continue this fight until we win.

Campaign history and milestones

Looking back, it’s incredible to see how this campaign grew from a simple idea to meaningful dialogue with one of the world’s largest corporations. Guided by Third Act’s campaign strategist Deborah Moore, what began with a small group of Third Act Washington members—organizing in Costco’s home state—has grown into a nationwide movement in just over a year.

Here are some of the major achievements of this monumental campaign:

• 40,000 petitions delivered to Costco before their annual shareholder meeting.
• Thousands of handwritten postcards and emails to Costco leadership.
• Demonstrations across the country, where members have been arrested to draw attention to this critical issue.

Costco’s reputation as a values-driven company is well-earned. From refusing to sell endangered seafood to establishing its own climate goals (like reducing deforestation), and paying fair wages, Costco has shown a willingness to lead on critical issues. We hope they’ll evaluate their credit card partnership and influence Citi to take meaningful action to stop funding fossil fuels and accelerate its clean energy funding. 

If you haven’t already, join us in this action by signing our petition so Costco can hear from you, too.

Vanessa Arcara

Vanessa is the President and Co-Founder of Third Act. She is an activist and administrator, a gardener and a mother. Vanessa began her activist work in the world of food justice at Slow Food USA, SolidarityNYC, and on small farms across the northeast of the United States. Her writing has been published in State of the World: Innovations that Nourish the Planet. For the last decade she’s worked on the climate crisis at 350.org, helping coordinate actions big and small. She lives in upstate New York with her family.