"Top U.S. bank investors gave only slim support on Tuesday to shareholder resolutions calling for the lenders to wind down new fossil fuel financing, setbacks for climate activists who had hoped for new constraints on the oil and gas industries.

The resolutions won only about 10% support of votes cast at Citigroup Inc (C.N) and 7% at Bank of America,(BAC.N) bank executives said during their annual shareholder meetings held online. Investors rejected a similar resolution at Wells Fargo & Co,(WFC.N) said executives, though they did not give an exact tally.

Heidi Welsh, executive director of the Sustainable Investments Institute, which tracks such votes, had said the non-binding items needed 20% support to get much traction."

Ross Kerber reports for Reuters April 25, 2023. [2]