Climate activists failed to garner majority support for climate-related shareholder resolutions at three top US banks on April 26. While outperforming previous efforts, the three shareholder motions to end financing for fossil fuel expansion at Citi, Bank of America, and Wells Fargo only garnered 12.8%, 11%, and 11% of the votes, respectively.The measures would have directed management to stop financing the expansion of fossil fuel production, in line with the Paris Agreement’s climate goals based on International Energy Agency modeling. Although not legally binding, successful shareholder resolutions put pressure on the company’s board members to execute them, at the risk of being voted out
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