Urges lending institutions in State to stop financing projects that contribute to climate change.
This non-binding Senate Resolution (SR 15) urges New Jersey's lending institutions to stop financing fossil fuel projects that contribute to climate change. It cites the $3.8 trillion in fossil fuel financing by major global banks from 2016-2020, along with documented harms like health issues for the Mapuche people in Argentina and forced relocations in Mozambique. The resolution references NatWest's example of shifting toward sustainable energy financing (e.g., $133 billion pledged by 2025) as a model for other institutions. It does not impose new legal requirements but calls for voluntary action to align with international climate goals.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
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Full legislative history
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Total actions
1
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0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Environment and Energy Committee
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Bob Smith
DDemocratic
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