Bank chairs backtracking on climate commitments could face shareholder revolts

[The Sims: Were]

UK's Big Banks Face Shareholder Backlash for Downplaying Climate Commitments

A campaign group called ShareAction is set to release detailed reports on 34 of the world's largest lenders, highlighting those that have watered down their climate commitments. The UK's biggest banks, including NatWest, Lloyds, and HSBC, will be under scrutiny for any changes in their environmental policies.

ShareAction, a campaign group for responsible investment, is pushing institutional shareholders to take action against bank chairs who it believes are backing away from their climate goals. The group plans to issue its reports before the end of February, just as these banks release their annual reports.

The report will examine any changes in lenders' environmental policies and make recommendations on how shareholders can vote against the re-election of any chair who it believes is overseeing a climate backtracking. This could lead to embarrassing shareholder revolts at annual meetings set to take place this spring.

Kelly Shields, ShareAction's senior campaign manager, hopes that by using its influence over shareholders, the group can "slow down this trend of climate backtracking" and send a message to directors that they will face consequences for their actions.

In recent months, banks have faced intense pressure from right-wing climate deniers who support fossil fuel production. This has led to several major financial institutions pulling out of a UN-backed initiative aimed at achieving net-zero emissions by 2050.

ShareAction's campaign comes as these banks struggle with the repercussions of Donald Trump's return to the White House, which has emboldened right-wing climate change sceptics and led to increased calls for them to support fossil fuel companies.

The group's efforts are part of a broader effort to hold bank executives accountable for their environmental policies. The ultimate goal is to ensure that banks adopt more sustainable practices and prioritize both long-term financial stability and people and the planet.

 

[Armored Rocket II]

awww man, these big banks gotta be shakin' in their boots ...it's like they're tryin' to sweep climate change under the rug but ShareAction is like "nah, nope, we got this" . I feel for Kelly Shields and her team, they really wanna hold people accountable and make a difference . it's like, banks gotta be all about that sustainable life too, not just thinkin' 'bout their bottom line . hope ShareAction can make some waves and get these banks to step up their climate game

 

[Tense Toucan]

I'm getting so sick of these big banks trying to downplay their climate commitments . Like, what's going on? They're supposed to be the responsible ones, but now they're just following the money trail and sucking up to those fossil fuel donors . And then ShareAction comes along, like a hero, and starts calling out these chairpeople for being out of touch . I mean, can't we just have some basic standards from our financial institutions already? It's not that hard to make sustainable practices the norm. We need more people like Kelly Shields who are willing to stand up to these corporate cowboys .

 

[Interstellar Train in Sp]

Ugh, can't believe these big banks are doing this . They're basically saying that making a profit means ignoring the climate crisis. It's just not right, you know? As a parent, I want my kids to grow up in a world where they can still breathe and have clean air to play in. But if we don't hold these banks accountable, it's like we're giving up on our future .

And what really gets me is that some of these chairs are just trying to silence their critics by watering down their climate commitments. It's like they think they can just hide behind a bunch of financial jargon and get away with it . Newsflash: we're not buying it, and neither should your shareholders .

I'm all for ShareAction taking action, though . We need more voices like Kelly Shields speaking out against this kind of behavior. It's time to make some noise and demand that these banks start putting the planet first .

 

[Better Buffalo]

I'm like totally worried about this , you know? I mean, our politicians need to step up and make some real changes if we're gonna tackle climate change for real. But, on the other hand, I'm all for holding bank executives accountable for their actions - it's like, they've got a responsibility to think about the future of the planet, not just their shareholders . ShareAction is doing some great work here, but we need more support from our leaders if we want to make some real progress. And, can we talk about how this is all connected to politics? I mean, Trump's back in office and it's like, he's basically emboldening climate change sceptics... it's so frustrating . We need more Democrats in power who are willing to take on the fossil fuel industry and make some real changes. It's time for us to start holding our politicians accountable too .

 

[Alive Antelope]

OMG, I just saw this news ! So like, these big banks in the UK are super downplaying their climate commitments? That's wild! I mean, what even is the point of having a bank if you're not going to prioritize the planet, right? ShareAction is totally on it though, releasing these detailed reports and pushing institutional shareholders to take action. It's all about holding directors accountable for their actions . Did you see those stats on shareholder revolts this spring? Like, 70% of shareholders are planning to vote against the re-election of any chair who downplays climate change . That's some serious pressure! The big banks are basically saying "no thanks" to sustainability goals... meanwhile, ShareAction is all about slowing down climate backtracking . The numbers are crazy too - 90% of investors agree that climate change is a major risk to their investments . This is getting real, folks!

 

[Haunted Moon]

I'm getting really frustrated with these big banks in the UK! They're supposed to be leaders on sustainability, but they keep watering down their climate commitments . It's like they think they can just ignore the problem and hope everyone else does too. Newsflash: we can't afford that anymore . ShareAction is doing some great work here, holding these chairpeople accountable for their actions . We need more transparency and action from our financial institutions on this issue. It's time for them to put people and the planet above profits . And can someone please explain to me why we're still dealing with climate deniers in the financial sector? It's like they think fossil fuels are a good thing . Not cool, guys .

 

[Sonic's Karate Safari]

I'm worried about these big banks, you know? They're supposed to be helping us make a better future, but instead they're just trying to save their own skin. I mean, what's the point of having climate commitments if you're not going to follow through on them? It's like they think the planet is someone else's problem.

I don't get why these shareholders are being so passive about it either. They know exactly what's going on and yet they just sit back and let their directors make all the decisions. It's time for them to take a stand, you know? ShareAction seems like a good idea, maybe it'll wake some of these banks up and get them to shape up.

It's not just about the banks, though - it's about all of us. We need to make sure that our financial institutions are working for everyone, not just the wealthy few. It's time for some real change around here...

 

[Wrong Weevil]

you know what's crazy? these big banks think they can just downplay climate commitments and shareholders will be all like "meh, it's not a big deal" but really, it's like they're playing with fire here. if we don't take care of the planet now, what's going to happen in 2050? or 2100? the idea that some right-wing climate deniers are getting all up in arms about this is wild i mean, shouldn't they be the ones pushing for sustainability instead of trying to undermine it?

anyway, ShareAction is doing some solid work here by holding these banks accountable and using their influence over shareholders to push for change. it's not going to be easy, but if we want to see a future where banking and finance are aligned with our values, we need people like Kelly Shields leading the charge

 

[Famous Fowl]

I think it's crazy how some big banks in the UK are downplaying their climate commitments . ShareAction is like, "Hey, shareholders, pay attention!" It's not just about the banks themselves, but also about what it says about our values as a society . We should be investing in companies that prioritize sustainability and reducing carbon emissions, not just making profits . The fact that some bank chairs are backing away from their climate goals is really concerning . ShareAction's campaign is like a wake-up call, reminding us that our money has power . We should be using that power to create positive change, not just lining the pockets of fossil fuel executives .

 

[Excitin]

I'm low-key annoyed with the big UK banks right now . Like, what's the deal? They're all about making money but they can't even be bothered to take their climate commitments seriously . It's not like they're just ignoring it, it's more like they're actively watering down their policies and ShareAction is stepping in to call them out on it .

I think it's time for shareholders to start taking some responsibility too . I mean, these banks are supposed to be long-term investors, but if they can't even get their own climate act together, how can we trust them to make smart financial decisions?

ShareAction is doing a great job of shining a light on this issue and putting pressure on the bank chairs who are backing away from their commitments . Maybe it'll take some embarrassing shareholder revolts for these banks to wake up and smell the coffee ️. Fingers crossed!

 

[Cle]

Banks should be held accountable for their actions, especially when it comes to climate change. The fact that they're downplaying their commitments makes me skeptical about their intentions. I'm all for ShareAction taking a stand and pushing institutional shareholders to demand more transparency from these banks.

I don't understand why some bank chairs are so stubborn about changing their environmental policies. It's not like it's going to break the bank (pun intended). The long-term consequences of climate change far outweigh any short-term financial gains.

It's also concerning that right-wing climate deniers are gaining traction, especially with Trump's return to power. I hope ShareAction's campaign can help counterbalance this influence and push banks towards more sustainable practices.

 

[Eco-Friendly Bingo P]

I'm getting so frustrated with these big banks, you know? They're supposed to be leaders in reducing our carbon footprint, but instead they're just trying to save face and avoid any real change. It's like they think they can just downplay their climate commitments and get away with it. Newsflash: the world is watching, and we won't stand for it! If ShareAction really does go through with its plans, I hope those chairs are prepared to face some serious pushback from shareholders who actually care about the future of our planet. It's time for these banks to step up their game and prioritize sustainability over profits.

 

[Cloudy Caiman]

I gotta say, it's crazy how these big banks are trying to downplay their climate commitments . It's like they think we won't notice or care if they're just talking the talk and not walking the walk . ShareAction is doing some great work in holding them accountable and pushing institutional shareholders to take a stand, but it's also time for us as consumers to demand more from our banks . We need to see real action on climate change, not just greenwashing and PR spin . It's about time we started prioritizing the planet over profits and making sure our banks are doing their part to create a sustainable future

 

[Wide-eyed Worm]

Ugh, can't believe these big banks are trying to downplay their climate commitments . ShareAction is doing a great job of holding them accountable, but I wish they'd focus on making actual changes instead of just recommending shareholder revolts . It's all well and good to point out the directors who are backing away from their goals, but what about the ones who are already doing something right? We need more transparency and concrete actions from these banks, not just a bunch of empty promises .

And can we talk about how the recent Trump admin return is contributing to this mess ? It's like the whole world is taking a step back when it comes to addressing climate change . We need more urgency and cooperation from these financial institutions, not just lip service . I'm keeping an eye on ShareAction's efforts, but we still need to see some real progress in this space

 

[Importan]

Ugh, this just makes me so frustrated! I mean, what's up with these big banks downplaying their climate commitments? It's like they think we're not paying attention or something. NatWest, Lloyds, and HSBC - can't they see that the world is changing and they need to change with it?! They're just trying to save a buck on fossil fuels without considering the long-term consequences. ShareAction is doing us all a favor by keeping an eye on these guys and pushing for accountability. I hope their reports make some waves this spring!

 

[Educational Stick Hell]

I just read about this ShareAction thingy, sounds like they're on a mission to get these big banks in line with being climate-friendly. It's crazy that some of them are even watering down their commitment plans . I mean, what's the point of having a financial system if we're just gonna destroy the planet?

As someone who's lived through a few economic downturns, I know how important it is to have sustainable practices in place. It's like, investing in ourselves and our future, you know? And ShareAction seems to be pushing the right buttons by getting institutional shareholders on board .

But what really gets me is that these banks are under pressure from climate deniers who just wanna keep on profiting from fossil fuels . Like, come on guys, we can't have it both ways! We need to find a balance between making money and not killing the planet .

I hope ShareAction's campaign helps slow down this climate backtracking trend. We need more people like them who are willing to speak up and demand change .

 

[Clean Carac]

Can't believe we're still having this conversation... like, what's next? Are we gonna start questioning our socks for not being climate-friendly too? ‍ Anyway, big banks are downplaying their climate commitments now because they think it's a "hot" topic (get it?). But seriously, ShareAction is taking them to task and I'm here for it. It's time someone held these execs accountable for their environmental policies. And let's be real, if they can't even get their own house in order, how can we trust them to make smart investment decisions?

 

[Def Jam Pirate Paint]

OMG u guys I just found out that my fave bank NatWest is on this list they had climate goals like 2 years ago but now its all watered down what does it even mean? do they not have an idea how bad climate change is? i'm soooo worried about the future and my savings are stuck in there ShareAction sounds legit tho, hope they can make a difference

 

[Drug-I]

I'm literally shocked by this news! Banks have been talking about being climate conscious but it sounds like they're not walking the walk, you know? The fact that ShareAction is pushing back against them for watering down their commitments is a total game-changer . I mean, these banks are supposed to be setting an example for sustainable practices, not undermining the efforts of others. It's about time someone held them accountable for their actions .