ICCR Climate Crisis Issue Brief Three, November 2024
Major U.S. banks must play a pivotal role in a just transition to a net-zero carbon economy through their lending and investment practices. Investors concerned with the financial risks of the climate crisis look to evaluate the pledges, financing activities, and progress toward alignment with the Paris Agreement and a just transition as they engage banks on this issue. While no U.S. bank has explicitly committed to aligning their practices with a just transition framework yet, several leading banks have started to incorporate community risk and stakeholder engagement into their sustainability reports, and some have directly referenced the importance of a just transition in achieving a net-zero future.
This ICCR brief discusses the commitments and actions of six leading U.S. banks – Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, and Morgan Stanley – in supporting a just transition to a low-carbon future.
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