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      as you sow

      Climate activists demonstrate outside the headquarters of JPMorgan Chase during the bank's annual shareholder meeting on May 17, 2022 in New York City.

      Climate Coalition Targets Big Banks and Insurance Giants With New Shareholder Campaign

      "The planet is running out of time and the banks are running out of excuses," said climate leader Bill McKibben.

      Brett Wilkins
      Mar 01, 2023

      A coalition of more than 240 advocacy groups on Wednesday launched a "Shareholder Showdown" campaign in support of shareholder resolutions urging climate action and respect for Indigenous rights at major U.S. and Canadian banks and insurance companies.

      According to campaign coordinator Stop the Money Pipeline, the resolutions—which were filed by investors including the New York City and state pension funds, Sierra Club Foundation, and others—would require banks and insurance companies to "phase out their financing of companies engaged in fossil fuel expansion, report on projects that could violate Indigenous rights, use absolute emissions rather than emissions intensity targets, disclose 2030 transition plans, and hold directors accountable at banks that are not aligned with 1.5°C pathways."

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      shareholder activism
      Climate activists with Stop the Money Pipeline held a rally in midtown Manhattan on April 17, 2021 to urge financial institutions to stop funding fossil fuels and forest destruction.

      Shareholders Target Wall Street Banks With 'Groundbreaking' Climate Resolutions

      "Investors are saying we can't conduct business in a world that is on fire, that has heatwaves and insufficient water. And I do think companies are beginning to understand that it's in their interest to take action."

      Brett Wilkins
      Apr 26, 2022

      A significant percentage of shareholders at three of the biggest U.S. banks voted Tuesday to endorse first-of-their-kind resolutions urging the companies to stop supporting new fossil fuel development amid a worsening climate emergency.

      "Big banks have a responsibility to address their massive contribution to the climate crisis and protect their shareholders from climate risk."

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      shareholder activism

      98% of Shareholders Want GE to Take Climate Action

      Newswire Editor
      May 04, 2021

      Today, a resounding 98% of investors voted for a shareholder resolution at General Electric's annual meeting, according to preliminary numbers. The resolution asks GE to report on whether and how it plans to achieve net-zero greenhouse gas (GHG) emissions across its businesses and products by 2050 in alignment with the Paris Climate Agreement's 1.5degC goal. The resolution was filed and presented by shareholder representative As You Sow on behalf of Amalgamated Bank.

      GE's board supported the resolution, a commendable and unusual move, demonstrating that the company has begun to focus on its full climate impact and is willing to report on its greenhouse gas emission reduction plans. Last year, GE announced its goal of carbon neutrality by 2030, but only for the company's direct operations and facilities (Scope 1 and 2 emissions). Meeting the ask of the resolution will give shareholders a better understanding of the company's plans to address its full climate footprint - including indirect emissions from GE's products (Scope 3) which currently account for a major portion of the company's total emissions. GE stated it will discuss its approach to emissions reductions in its sustainability report later this year.

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