Copyright_leonidsorokin_123RF

New York City comptroller Brad Lander and three of the city’s pension funds are offering shareholder proposals calling on several banks — including the Royal Bank of Canada — to disclose absolute greenhouse gas emissions targets for 2030.

The shareholder proposals, which request a report within one year, call for an absolute reduction target aligned with a science-based net-zero emissions pathway.

Read: Electrical grids require massive investments to reach net-zero targets: Ontario Teachers’

The plan is backed by the New York City Employees’ Retirement System, Teachers’ Retirement System and Board of Education Retirement System. The pension funds hold a combined 293,000 shares of RBC as of last November.

The proposals, which were filed at Goldman Sachs Group Inc., JPMorgan Chase & Co. and RBC, request that the absolute GHG emissions targets cover lending and underwriting for oil and gas and power generation sectors. At the Bank of America, the proposal co-filed with the New York State Common Retirement Fund asks the emissions reduction targets cover lending and underwriting in the company’s energy sector.

Read: New York City pension funds divesting $4BN from fossil fuels