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      morgan stanley

      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
      'Shareholder Showdown' graphic

      Shareholder Showdown: The Most Important Climate Votes You’ve Never Heard Of

      Without Wall Street cash, the world's most polluting companies wouldn't get the capital they need to finance their toxic expansion.

      Arielle Swernoff
      Mar 01, 2023

      Today, a coalition of over 240 organizations across North America announced a new campaign on big banks and insurance companies: Shareholder Showdown. This spring, we’re calling for shareholders to step up and push major corporations to start taking the climate crisis seriously.

      Every year, shareholder season runs from April to June. It’s the time of year when the country’s biggest corporations hold their annual general meetings, where shareholders vote on all sorts of proposals: how companies should be governed, who should be in charge, and how they should relate to climate, racial, and economic justice.

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

      Shareholder Resolutions Push Big Banks to Phase Out Fossil Fuel Financing

      "Any climate commitment from a bank that is still financing fossil fuel expansion is greenwashing, pure and simple," said a Stop the Money Pipeline campaigner.

      Brett Wilkins
      Jan 24, 2023

      Taking aim at Wall Street banks financing the oil, gas, and coal extraction fueling the climate crisis, a coalition of institutional investors on Tuesday announced the filing of climate-related shareholder resolutions in an effort to force "more climate-friendly policies that better align with" the firms' public commitments to combating the planetary emergency.

      In the resolutions, members of the Interfaith Center on Corporate Responsibility (ICCR) and Harrington Investments asked six banks—Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, and Wells Fargo—to enact policies phasing out fossil fuel finance, disclose plans for aligning their financing with their stated near-term emissions reduction goals, and to set absolute end-of-decade emissions reduction targets for their energy sector financing.

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