Legal & General Investment Management said it will support shareholder resolutions asking America’s biggest banks to phase out financial support for fossil fuels.
on its website that it intends to vote for proposals that request Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., dopt a “time-bound policy to phase out lending and underwriting for fossil fuel exploration and development.
“As investors advocating for a just and orderly energy transition, which satisfies all aspects of the current energy crisis , we continue to emphasize that the boards of financial institutions need to closely consider their strategy and risk appetite towards fossil fuels into the near future,” LGIM said.
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