Under pressure from climate-concerned investors, Wall Street banks have set splashy emissions goals, touted near-term targets and committed to disclosing their carbon footprints.
But the investors and advocates who pushed for those moves still aren’t satisfied. Now they’re turning up the heat and calling on the largest U.S. banks to show their climate-related work — and prove they’re making good on their promises.
“They’ve made the long-term commitments, they’ve set the near-term targets, they’re disclosing their financed emissions now on an annual basis,” said Ben Cushing, who leads the Sierra Club’s finance campaign.
“But investors, rightly, are concerned that banks don’t actually have the plans in place to achieve those targets and commitments, and so they’re asking for more information about how they are going to do that,” Cushing added.
