"Three of New York City’s #PensionFunds and NYC Comptroller Brad Lander announced shareholder resolutions at three massive American banks with major #FossilFuel investments: Bank of America, Goldman Sachs, JPMorgan Chase and Canada’s largest bank and top fossil fuel financier, RBC.

The shareholder proposals, if passed, would require the banks to set absolute emission reduction targets for 2030 aligned with #climate science."

#AGM #MoneyPipeline
https://www.nationalobserver.com/2023/01/25/news/nyc-pension-funds-take-rbc-over-climate-plan

It's AGM season soon so large shareholders are getting ready to use their clout to push companies onto a more #climate-responsible path.

"#Shareholder resolutions filed by New York City's top pension official will ask top Wall Street banks including JPMorgan and Bank of America to set stricter 2030 greenhouse gas #emissions reduction targets for portfolio companies."

#MoneyPipeline
https://www.reuters.com/business/sustainable-business/new-york-pension-seek-stricter-climate-emissions-rules-bank-portfolios-2023-01-24/

Update from the #MoneyPipeline:

Outgoing head of Financial Stability Board calls for a global #CarbonFee to give banks a #climate price signal.

Nice.
But #WeDontHaveTime for such a fee to get installed. Such talk is climate #delay, just what climate deniers want to see.

Banks don't need such a price signal. They just need to look at the #ClimateRisk honestly ("fiduciary duty", anyone?) and act accordingly.

https://www.ft.com/content/2eba7248-9adb-41f3-bbe6-f800d1c250d1

The wrestling over the #MoneyPipeline goes national.

"Republicans are planning to use their control of the House of Representatives in 2023 to intensify attacks on companies that account for climate-related risks when they're making investment decisions."

But
"To the asset managers who run [investment funds] and to the public companies in which they invest, things like climate change are real and pose a real threat to many businesses."

https://www.npr.org/2022/12/29/1141838065/republicans-plan-more-attacks-on-esg-investors-still-plan-to-focus-on-climate-ri