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, totaling $3.8 trillion from 2016 to 2020. The resolution also points out specific cases where such financing has harmed local communities, such as the indigenous Mapuche people in Argentina and families in Mozambique, who have faced health issues and loss of livelihoods due to these projects.

The resolution calls for a shift towards sustainable energy financing, citing examples of institutions like NatWest that have committed to reducing their support for fossil fuels and increasing investments in sustainable projects. It emphasizes the need for other lending institutions to follow suit in order to mitigate the harmful impacts of climate change and protect the environment. By urging these institutions to limit their financing of oil, gas, and coal projects, the resolution aims to promote a transition to more environmentally responsible practices that align with global climate goals.