UNPRI signatories are fueling climate change and deforestation through their investments in banks

A new report, Banks: High Carbon, Hidden Risks, by Rainforest Action Network, demonstrates that large banks such as JPMorgan Chase, Citibank, HSBC, Mitsubishi UFJ, Mizuho and Deutsche Bank are pumping billions of dollars into extreme fossil fuels and tropical deforestation. The largest investors in these banks and UN Principles for Responsible Investment (UNPRI) members, such as Vanguard, Blackrock, State Street and Japan’s Government Investment Pension Fund, have influence over the lending policies of banks, yet they continue to look the other way.