Bank Activist Group Shuts Down, Cites Limits of Climate Push (1)

A shareholder activist group in Canada is shutting down after concluding that investor pressure alone isn’t enough to meaningfully influence financial and energy firms to address climate risks.

Investors for Paris Compliance, also known as I4PC, was created five years ago with a plan to review corporate environmental filings and use shareholder proposals to call on banks, insurers and oil and gas companies to provide more detailed disclosure on carbon emissions and outline credible net-zero transition plans.

This week, the group saidit will cease operations, noting that it believed “investor accountability has reached its limits.”

“It was a different ...