Low angle view of modern skyscrapers in Midtown Manhattan.
Financial institutions have used their climate commitments to tell the world where they want to go in the coming decades. But how will they get there?
As spring comes to a close, so does the season of annual general meetings (AGMs). At these convenings, shareholders call for corporate changes by filing and voting on resolutions. In recent years, shareholder engagement has increasingly been used to advocate for climate action, and this year was no exception.
Utilities are building gas-fired power plants today for a future that may not have a use for them, potentially leaving ratepayers paying for a plant long after it has closed.
In the wake of COP26 and a record-breaking year of climate commitments from the financial sector, there has never been greater attention on what financial institutions do next to translate their words into action.
When RMI launched the Center for Climate-Aligned Finance in 2020, the concept of climate-aligned finance was in its infancy. As we begin 2022, we look ahead to some of the major themes likely to emerge this year.