130 Banks Just Launched the Principles for Responsible Banking: Will Banks Finally Change for the Better?

130 banks including Citi and MUFG (parent of Union Bank) just committed to align their financing with the Paris Climate Agreement and the Sustainable Development Goals. Wow. Does that mean they are going to totally transform their financing for the better and stop financing deforestation, fossil fuels, and human rights violations? If not, this is going to be just one more greenwashing exercise…

Action in front of the BNP Paribas New York branch where the Principles for Responsible Banking sessions were held (September 23, 2019)