The pressure on banks to be responsible in their lending relative to climate impact is growing. ShareAction has led a group of investors in filing the first climate related shareholder resolution in Europe. This resolution to be taken up at the Barclays annual meeting is likely to be only the beginning of pressure from investors for banks to be proactive in ensuring that their lending and related financing activities are supportive of the Paris goals. This action is consistent with the comments from Huw Steenis in today’s Financial Times that further highlights the future demands on banks. But how many banks are prepared to respond to this pressure? Or do most banks hope this issue will just go away?
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