Kerry to Wall Street: Put your money behind your climate PR

Kerry to Wall Street: Put your money behind your climate PR

“There’s an urgency in the timing,” said Rachel Kyte, who led sustainable development at the World Bank and was its special envoy for climate change. “It’s a political hot potato that Kerry is dealing with.”

Kerry has pitched banks on creating a U.S. net-zero banking alliance following the climate commitments from six major Wall Street banks, according to two people familiar with the discussions. Citi, Wells Fargo, Bank of America, Morgan Stanley and Goldman Sachs all set 2050 net-zero goals and JPMorgan Chase has said its lending would be aligned with the Paris agreement although Kerry and his team are pushing for more specific financial commitments as part of this…

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