The resolution urges lending institutions in the State to cease financing projects that contribute to climate change, particularly those involving fossil fuels such as oil, gas, and coal. It highlights the detrimental effects of greenhouse gas emissions on global temperatures, which lead to severe weather events and environmental degradation. Despite the global commitment to reduce emissions through the Paris Agreement, major lending institutions have continued to provide substantial financing to fossil fuel companies, exacerbating climate change and negatively impacting communities, such as the indigenous Mapuche people in Argentina and families in Mozambique who have faced health issues and displacement due to these projects.

The resolution calls for a shift towards sustainable energy financing, citing examples of institutions like NatWest that have made commitments to reduce their carbon footprint and invest in renewable energy. It emphasizes the importance of other lending institutions following suit to mitigate the harmful effects of climate change and protect the environment. By urging these institutions to limit their financing of fossil fuel projects and increase support for sustainable initiatives, the resolution aims to foster a more environmentally responsible approach to lending practices in the State.