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Wall Street Banks Face New Pressure to Cut Fossil-Fuel Financing

  • Shareholder group has filed climate resolutions with six banks
  • Goldman, JPMorgan and Citigroup are among the recipients
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Photographer: Eddie Seal/Bloomberg

Wall Street banks, including Goldman Sachs Group Inc. and JPMorgan Chase & Co., are facing calls from shareholders to take faster action to address their role in financing climate change.

The Sierra Club Foundation and Trillium Asset Management are part of a group that filed nine resolutions with six banks, requesting that they ensure their financing doesn’t add to new fossil-fuel supplies as required by the International Energy Agency’s so-called 2050 scenario.