Call for bank chairs to face investor revolts over climate backtracking

Bank chairs who water down their lenders' climate commitments this year could face embarrassing shareholder revolts as campaigners try to hold bosses to account.

- Kalyeena Makortoff

ShareAction, a campaign group for responsible investment, will be issuing detailed reports to pension funds and asset managers in the coming weeks, outlining whether 34 of the world’s largest lenders are sticking to their climate goals.

Its reports will closely analyse any changes in lenders’ environmental policies, which are usually published alongside their annual reports.

The UK’s largest banks will be among the first under scrutiny, with NatWest, Lloyds and HSBC all due to release their annual reports by the end of February. Barclays will publish its annual report on Tuesday.