Good Business
Biggest Banks Sit Out Industry Climate-Goals Pledge
- Citigroup is the only major U.S. bank to commit to the PRB
- Pledge comes 13 years after investing principles were started
Photographer: Sean Gallup/Getty Images
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Only three of the world’s 10 biggest banks joined the coalition of 130 global financial firms in agreeing to align their business with international efforts to address climate change and other environmental issues.
The group that signed on to the United Nations’ Principles for Responsible Banking represents $47 trillion in assets, or a third of the global banking industry, UN Secretary-General Antonio Guterres said at the launch event Sunday.