MADISON, Wis. — Wisconsin State Treasurer Sarah Godlewski issued the following statement regarding the upcoming annual meetings of shareholders of banks and insurance companies considering climate resolutions:
“As State Treasurer of Wisconsin, I am charged with protecting the assets of our residents, ensuring strong returns for our beneficiaries, and safeguarding our economic interests. Climate change poses a systemic economic risk that Wisconsin is already experiencing from increased flooding ravaging farms and communities across the state to water quality threats to our lakes and drinking water. To address climate risk and create long-term shareholder value, it is critical that all financial institutions align their business plans, capital allocation, and public policy advocacy with a net-zero emissions pathway immediately.
“Whether that’s companies that have failed to implement previously approved resolutions, or those who may not have comprehensive plans to limit their fossil fuel lending, underwriting, or development, it’s long past time to make actionable, substantive changes to address the climate crisis. Failure to do so would be catastrophic for our climate and for their shareholders.
“As the mother of a two-year-old, this is personal to me. And as Wisconsin’s State Treasurer, I know that such changes are not only the right thing to do for our planet, but they’re the fiscally sound choice. We need to use every tool in our toolbox to fight climate change and protect the Earth for future generations, that’s why I am calling on financial institutions to take meaningful action around sustainability at their upcoming shareholder meetings.”