Six major American banks (Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo) issued a joint statement calling for the world’s governments to create a strong agreement in Paris later this year. That’s when the world’s leaders will hammer out a successor to the Kyoto Protocol.
In the statement published by Ceres, the six major banks acknowledged that as “major financial institutions, working with clients and customers around the globe” they have the “business opportunity to build a more sustainable, low-carbon economy and the ability to help manage and mitigate these climate-related risks.” However, those activities are not “sufficient to meet global climate challenges,” they went on to declare. For that reason, they are calling for “leadership and cooperation among governments for commitments leading to a strong global climate agreement.”
“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, in a statement. “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.”
All six of the major banks are already working to tackle climate change. Here’s a short overview of their efforts:
Gina-Marie is a freelance writer and journalist armed with a degree in journalism, and a passion for social justice, including the environment and sustainability. She writes for various websites, and has made the 75+ Environmentalists to Follow list by Mashable.com.