Citi, JPMorgan and Royal Bank of Canada will disclose a new climate report metric outlining their financing ratio of low-carbon energy to fossil fuels under an agreement brokered by New York City comptroller Brad Lander.
Lander, serving as the investment advisor and custodian of the city’s pension funds, announced on Wednesday that the three banks will disclose the new metric. In exchange, the pension funds managed by Lander will retract shareholder resolutions previously demanding such disclosures at each bank.
