Urges lending institutions in State to stop financing projects that contribute to climate change.

Assembly Resolution 163 urges New Jersey's lending institutions to stop financing projects that contribute to climate change, such as fossil fuel development. The resolution cites that major global banks provided $3.8 trillion to oil, gas, and coal companies from 2016 to 2020, and references environmental harm linked to such financing, including health issues for the Mapuche community in Argentina and forced relocations in Mozambique. It highlights NatWest's example of reducing fossil fuel funding and increasing sustainable energy investments as a model for other institutions. As a non-binding resolution, it does not require lending institutions to change practices but formally calls for them to adopt similar climate-conscious policies.