A climate activist group is ramping up pressure on major banks to honor their environmental pledges. ShareAction, which pushes for ethical investment, is set to release a series of reports checking whether 34 of the world's largest banks are meeting their climate goals.

The group plans to ask institutional shareholders - the large firms that hold significant stakes in these banks - to take a stand at upcoming annual meetings. Specifically, they are urging investors to vote against re-electing any bank chairs who are overseeing a retreat from climate commitments.

A campaign manager explained that the move is symbolic, meant to send a direct message to board members and slow down any backsliding on environmental targets. This push comes at a tense time for the industry, as several banks face growing heat for leaving a United Nations-backed alliance dedicated to reaching net-zero carbon emissions.