Daily Business Report

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Just Three Of World's Top Ten Banks Signed UN Climate-Goals Commitment Posted: 24 Sep 2019 06:19 AM PDT Just three of the world's 10 biggest banks agreed to join a coalition of 130 global financial firms which have agreed to reshape their business to align with international efforts to address climate change and other environmental issues according to Bloomberg.  Citigroup, Mitsubishi UFJ Financial Group and Industrial and Commercial Bank of China joined the United Nations' Principles for Responsible Banking pledge, which now represents $47 trillion in assets - or 1/3 of the global banking industry according to UN Secretary-General Antonio Guterres during a Sunday launch event.  Other signers include "European banks BNP Paribas SA, Barclays Plc and UBS Group AG," which have agreed to map out and publish plans by 2023 governing their targets for sustainability.  Guterres implored banks to increase financing for green-growth businesses, and to "Invest in climate action and divest from fossil fuels and pollution in general."  Read the entire article

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