Esta mañana, los accionistas de JPMorgan Chase fracasaron en su intento de aprobar resoluciones climáticas claves, al rechazar propuestas que hubieran obligado al banco acabar su apoyo al desarrollo de nuevas explotaciones de combustibles fósiles y para establecer objetivos absolutos de reducción de la financiación de emisiones de efecto invernadero.
NEW YORK — This morning, JPMorgan Chase shareholders failed to pass two key climate resolutions, voting down proposals to push the bank to end its support for new fossil fuel development and to set absolute targets for reducing its financed greenhouse gas emissions. Despite the outcome, climate activists applauded the final votes, as well as shareholder votes on unprecedented climate resolutions at other big U.S.
When JPMorgan Chase faces its shareholders this Tuesday, the bank will face votes on two key shareholder resolutions pushing the bank to clean up its act on climate.
Today, Wells Fargo announced new 2030 targets to reach its commitment to net-zero financed emissions by 2050. The plan includes a commitment to reduce absolute financed emissions from the oil and gas sector by 26% and financed emissions intensity from the power sector by 60%. These targets do not explicitly prevent the bank from financing fossil fuel expansion.
This morning, shareholders at Citi, Bank of America, and Wells Fargo voted 12.8%, 11%, and 11%, respectively, in support of groundbreaking resolutions pushing the banks to end their support for new fossil fuel development. Any resolution that receives at least 5 percent of the vote is eligible to be refiled next year, and anything that receives 10 percent or more is considered difficult for a company to ignore.
For the first time, the six biggest US banks – Bank of America, Wells Fargo, Citi, JPMorgan Chase, Morgan Stanley, and Goldman Sachs – are all facing votes on shareholder resolutions pushing them to end their support for new fossil fuel development.
Today, in an open letter to Vanguard CEO Tim Buckley, over 100 organizations representing over 6 million people called on the world’s second-largest asset manager to enact the visionary financial leadership that is needed to meet the scale and urgency of the climate crisis. The letter comes with the launch of Vanguard S.O.S., an international climate campaign made up of civil society organizations, finance experts, grassroots groups, and climate activists, many of whom pushed BlackRock to start tackling its climate problem with the BlackRock’s Big Problem campaign.
Today, Bank of America announced new 2030 targets to reach its commitment to net-zero financed emissions by 2050. The interim targets set goals to reduce the emissions intensity from its auto manufacturing, energy, and power generation portfolios. The bank does not set absolute emissions targets.
Released today, the 13th annual Banking on Climate Chaos report, the most comprehensive global analysis on fossil fuel banking to date, underscores the stark disparity between public climate commitments being made by the world’s largest banks, versus the reality of their largely business-as-usual financing to the fossil fuel industry.
Today, the Securities and Exchange Commission (SEC) released a draft rule that will require publicly traded companies to disclose their greenhouse gas emissions as well as the climate risks their businesses face.