Regions Bank
Your bank falls short in climate responsibility.
Regions Bank is a regional bank headquartered in Birmingham, Alabama. The bank operates over 1,500 banking offices and 2,000 ATMs across the Southeastern United States, serving customers in 15 states.The bank’s products and services include consumer banking, consumer loans, and commercial and business banking.
The bank lends significantly more to fossil fuel companies than it does to renewable energy companies. The bank has stated that it does not intend to put in place a policy confirming that it will not lend to the fossil fuel sector.
The bank is making some progress by measuring the greenhouse gas impact of its lending and setting climate targets (albeit of low ambition). It needs to do more, much more.
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Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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