The U.S. Securities and Exchange Commission said on March 25 it would permit a proposal submitted by the Sierra Club Foundation, an environmental lobby group, requiring JPMorgan shareholders to green-light targets to shrink the bank’s carbon emissions on an absolute basis.
The SEC also ruled in favour of votes at Citigroup and Morgan Stanley, which had also submitted challenges. Lobby group ShareAction said on March 16 it would withdraw its shareholder resolution for HSBC’s annual general meeting on April 29 after the UK bank said it would update the scope of its fossil-fuel targets to cover capital markets activities as well as loans.
Citi, Bank of America and Wells Fargo hold their AGMs on April 26, Goldman Sachs and NatWest have theirs on April 28, HSBC and Credit Suisse are on April 29, Standard Chartered and Barclays are on May 4, JPMorgan and BNP Paribas are on May 17, Deutsche Bank is on May 19, and Morgan Stanley is on May 20.Buildings are seen in Canary Wharf business district, amid the outbreak of the coronavirus disease , in London, Britain, October 20, 2020.