MAKING CLIMATE CHANGE BANKS’ BUSINESS


huffingtonpost.com |September 19, 2017

Lauren Compere, Contributor

The devastation caused by Hurricane Irma across the Caribbean and Florida has served as a reminder to pension funds and asset managers of the urgent need to step up the fight against climate change. Financing new low-carbon technology and climate mitigation infrastructure will be on the agenda this week during New York Climate Week, highlighting the important role the world’s 60 biggest banks have to play in rising to this challenge, as the main financial intermediaries in the global economy.

That’s why this month Boston Common has continued to lead a coalition of over a hundred investors with assets totalling nearly $2 trillion, calling on the world’s largest banks – including the likes of HSBC, Lloyds, Bank of America, JPMorgan Chase, Morgan Stanley and Deutsche Bank – to disclose more information about their exposure to climate-related risks and opportunities, and how these are being managed by banks’ Boards and senior executives.

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