Another high-profile figure has taken a stand against the institution’s perceived conflict of interest

The analysis comes as shareholders are preparing to vote on a range of progressive environmental resolutions at the banks' annual meetings.

An initiative led by former Bank of England governor Mark Carney is failing to address climate campaigners' concerns about the validity of carbon credits.

The contested pipeline's cancelation cements a legacy of climate activism, but many other pipelines in the works may prove more important for industry.