new york pension seek stricter climate emissions rules from bank portfolios

(Reuters) Shareholder resolutions filed by New York City’s top pension official will ask top Wall Street banks including JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) to set stricter 2030 greenhouse gas emissions reduction targets for portfolio companies.

If the advisory proposals come to a vote at bank shareholder meetings this spring they would test investors’ climate commitments after setbacks in 2022, when calls for more dramatic cuts in fossil fuel financing put forward by other climate activists won slim support.