Amalgamated Bank Climate Risk Policy

We are a bank whose clients include pensions, nonprofits, foundations, political organizations, unions and individuals.  Each and every day we work with our clients to protect their financial assets and to create a just and sustainable, world for all.

Why Commit?

We can effect positive change by offering our clients an opportunity to take direct action on climate change by educating them about climate risk, and the benefits of investments in a clean and just economy.  While we provide broad ranged index investment products to meet our clients’ stated needs, we are committed to working with clients who are seeking to support reductions in global climate emissions, reduce climate risk in the economy, invest in new, sustainable and the clean energy and resource technologies that will drive robust growth in a clean economy while also supporting the imperatives of a just transition of the workforce and the creation of decent work and quality jobs.

We are committed to managing our clients’ assets in accordance with our fiduciary obligations and to ensure that our clients’ financial assets are safeguarded while producing sound financial returns through careful investment and risk management.  We support the conclusions of the United Nations Intergovernmental Panel on Climate Change and the United Nations agreement on climate change recently updated at the Paris Conference of Parties. Furthermore, as a founding signatory, we are committed to the United Nations Principles of Responsible Investment which encourages the consideration of Environmental, Social and Governance (ESG) impacts in all of our investment decisions.  Accordingly, we are concerned about the risks to our clients that are the direct result of human activities which are contributing to climate change.

The science is clear. Human-caused emissions of carbon dioxide are warming the planet at an alarming rate and require deep reduction in global climate emissions.  Beyond the human risks, the financial risks associated with climate change include the large investments in carbon sources that fall outside global commitments to emission reduction and temperature goals, as well as damage to infrastructure and economic systems.

A revolution in clean energy is upon us, with energy efficiency and carbon-free energy in the form of sun, wind and water taking hold in the market place and providing robust job and economic growth. The technology to substitute all forms of fossil fuels is not yet complete, but it is within striking distance. 

Therefore, we commit to working with clients seeking to divest from carbon risks, and instead invest in positive impact investments, which include climate solutions and the just transition to a low carbon economy.  We further commit to undertake the same approach with our own assets and to do so in a manner that strengthens the bank as an institution and as a leader and partner with our clients.