{"id":113723,"date":"2023-04-26T08:15:13","date_gmt":"2023-04-26T05:15:13","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/top-us-banks-face-little-investor-pressure-on-fossil-fuel-financing\/"},"modified":"2023-04-26T08:15:13","modified_gmt":"2023-04-26T05:15:13","slug":"top-us-banks-face-little-investor-pressure-on-fossil-fuel-financing","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/top-us-banks-face-little-investor-pressure-on-fossil-fuel-financing\/","title":{"rendered":"Top US banks face little investor pressure on fossil-fuel financing"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/113723\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nTop U.S. bank investors gave only slim support on Tuesday to shareholder resolutions calling for the lenders to wind down new fossil fuel financing, setbacks for climate activists who had hoped for new constraints on the oil and gas industries. The resolutions won only about 10% support of votes cast at Citigroup Inc (C.N) and 7% at Bank of America,(BAC.N) bank executives said during their annual shareholder meetings held online. Investors rejected a similar resolution at Wells Fargo &amp; Co,(WFC.N) said executives, though they did not give an exact tally.<\/p>\n<p>Heidi Welsh, executive director of the Sustainable Investments Institute, which tracks such votes, had said the non-binding items needed 20% support to get much traction. Welsh and activists pointed to other signs investors remain concerned about climate matters. For instance a resolution calling for Citi to report on its concern for the rights of Indigenous peoples, which had an environmental component, won 31% support, typically enough to draw boardroom attention.<\/p>\n<p>The phase-out resolutions from proponents including the Sierra Club Foundation called for new bank policies to step back from lending and underwriting new fossil fuel exploration and development. They were seen as an important test of investor sentiment after similar ones fared badly last year.<\/p>\n<p>Sierra Club representative Jessye Waxman said in a statement the results showed most investors are not aligning their proxy votes with their environmental positions. &#8220;As the climate crisis worsens, investors must move beyond calls for disclosure only and demand companies take real steps to align their business practices with their stated climate commitments,&#8221; Waxman said. All three major U.S. banks had opposed the resolutions, citing their other efforts to achieve net-zero by 2050.<\/p>\n<p>Citi CEO Jane Fraser said during her bank&#8217;s meeting that while global emissions must be reduced, &#8220;we simply don&#8217;t yet have affordable alternatives at the scale and reliability that is required&#8221; to move national economies off of fossil fuels.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/reut.rs\/441pT7V\">Reuters<\/a> <\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vaufien\/top-us-banks-face-little-investor-pressure-on-fossil-fuel-financing\/\">Top US banks face little investor pressure on fossil-fuel financing<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[789,1741,702,980,952,574,606,607,608],"class_list":["post-113723","post","type-post","status-publish","format-standard","hentry","category-news","tag-bank","tag-financing","tag-fossil-fuel","tag-investor","tag-pressure","tag-us","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/113723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=113723"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/113723\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=113723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=113723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=113723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}