Major U.S. banks call for leadership in addressing climate change
On Monday Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo, issued a joint statement calling for cooperation among governments in reaching a global climate agreement.
The statement, published today by the sustainability advocacy nonprofit Ceres, voiced support for policy frameworks that “will provide greater market certainty, accelerate investment, drive innovation in low carbon energy, and create jobs.”
The banks said that their institutions are collectively “committing significant resources toward financing climate solutions” and added that “clear, stable and long-term policy frameworks are needed to accelerate and further scale investments.”
“Financial institutions have a critical role to play in financing the transition to a low-carbon future,” said Mindy Lubber, President of Ceres and director of its $13 trillion Investor Network on Climate Risk. “As U.S. negotiators enter climate talks in Paris, they can say with confidence that the business and financial community in this country is ready for government leadership to address climate change.”
In today’s statement, the banks said they are “aligned on the importance of policies to address the climate challenge.” They also expressed ambition to continue investing directly in climate change mitigation efforts to make cities and communities more resilient.
Click here for more information and to view the statement.
Ceres is a nonprofit organization mobilizing business and investor leadership on climate change, water scarcity and other sustainability challenges. Ceres directs the Investor Network on Climate Risk (INCR), a network of over 100 institutional investors with collective assets totaling more than $13 trillion. Ceres also directs Business for Innovative Climate & Energy Policy (BICEP), an advocacy coalition of 34 businesses committed to working with policy makers to pass meaningful energy and climate legislation. For more information, visit www.ceres.org or follow on Twitter @CeresNews.
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