Daniel Growald, Peter Gill Case and Valerie Rockefeller — fifth-generation members of the famed family — have launched BankFWD, which is a network of powerful individuals and institutions aimed at persuading banks to change their lending practices.
"There's a strange thing happening right now where the business world is still trying to wrap its head around the idea of climate change, that there are true risks to the economy," Daniel Growald said Friday on CNBC's"There's a very direct economic connection. If banks such as JPMorgan don't change their practices, ultimately, it's very poor business over the longer term.
On Oct. 6, JPMorgan announced a financing commitment that would keep its practices aligned with the goals set forth in the Paris Agreement. But Growald, along with Case and Rockefeller, said in athat the mission fails to outline plans to stop fossil fuel lending, which is where the bank could have the largest impact.
"What we're actually asking JPMorgan to do is to commit to stop financing fossil fuel companies which don't themselves have a plan to transition to a world that's safe with climate change," Growald told CNBC. Ultimately banks and fossil fuel companies need to work together to determine how to transform business models to support a zero-carbon economy.
trying to dictate the world with tier $$$.....sux
Dynastic money rarely lasts more than a few generations, even the vast fortune Rockefeller built. Why? Descendents don’t have the ingenuity and work ethic of their fathers. John D had an insatiable drive to win, these people are leeches.
Yeah they already got theirs, the heck with others’ livelihoods.
big oil companies will just get loans from russian and chinese banks😂
saw this interview. takes the winner of uneducated woke millionaire trust fund kids. SMH
Meanwhile the PRC is building a new coal fired power plant every two weeks and the CNPC is drilling everywhere they can be protected by the PLAN!
Wow, how nice and cute of them. Look nothing like the evil capitalists that the Democrats vilify all the time.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »