Praxis Mutual Funds has joined with other investor partners to engage large banks on climate change and the low carbon transition. This new advocacy program is an extension of our continuing advocacy with power companies.
Praxis believes the natural environment is a finite resource and a gift from God. We pursue engagement on climate change as a faith-based response to our role as stewards of Creation. We are reaching out to banks to support and encourage them to enable the low carbon transition and finance the move toward sustainable energy.
Banks are connected to virtually every sector of our economy, and they wield significant influence. Banks can play a critical role in limiting global temperature rise to 1.5 degrees Celsius – the predominant scientific benchmark for avoiding the most serious outcomes of climate change.
While there are many issues to speak with banks about, investors are starting with the following:
- Net Zero carbon commitments and implications
- Greening lending portfolios
- Climate risks and opportunities in real estate
- Renewable energy financing
As these dialogues evolve, topics will expand and new issues will be added. To this point, Praxis has engaged Citigroup and Morgan Stanley, and we are also planning to engage Bank of America and JPMorgan Chase.