Investors refused to back resolutions demanding stricter fossil fuel financing policies at three major US banks.
Proposals filed at Wells Fargo, Bank of America and Citi called on the banks to align their fossil fuel financing policies with achieving net zero emissions by 2050, and to ensure financing did not contribute to “new fossil fuel supplies”. But the resolutions were backed by only about ...
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The top 10 banks—ranked as the largest funders of fossil fuel organizations—are talking more about climate change in general. However, in an analysis of annual reports, these banks were found to be vague when it comes to initiatives to counter it.
In 2020 alone, $425.92 billion was spent financing fossil fuels by this group—which includes banks from the US, such as JP Morgan Chase; the UK, ...
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