San Francisco, CA -- Today, at Wells Fargo’s virtual annual shareholder meeting, the bank faced questions about its massive fossil fuel financing and lack of a credible climate-aligned transition plan, but top shareholders like Vanguard and BlackRock appeared to maintain the status quo by voting to re-elect Board Chairman Charles Noski.
Today, on the eve of President Biden's Leaders Summit on Climate, saw the announcement of the Net-Zero Banking Alliance (NZBA), an industry-led initiative including a set of guidelines for banks to use in implementing net zero commitments and setting science-based targets for 2030 or sooner.
Washington, DC -- Today, the Department of the Treasury announced the appointment of John Morton as the Department’s first Climate Counselor to Treasury Secretary Janet Yellen. Morton is tasked with leading the newly established Climate Hub that will work across the Department to mitigate climate-related financial risks and advance President Biden’s goals of 100% clean energy and a net zero emissions economy.
New York, NY — Today, JPMorgan Chase announced a goal to finance and facilitate $2.5 trillion into climate solutions and sustainable development over the next ten years, but the bank failed to make any new commitments to reduce its financing of fossil fuels and overall climate impact.
New York, NY -- Today, JPMorgan Chase (JPMC) CEO Jamie Dimon released his influential annual letter to shareholders.
Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
*** Read report here: http://www.bankingonclimatechaos.org/ ***
New York, NY - Today, Citigroup issued an updated environmental policy that makes it the first major US bank with a plan to restrict financing for companies expanding coal power and to phase-out financing for nearly all coal power companies over the next two decades.
New York, NY -- Today, Wells Fargo became the last major U.S.
Washington, DC -- Today, Goldman Sachs announced a new commitment to align its financing activities with a pathway to net-zero greenhouse gas emissions by 2050 and committed to set interim climate targets by the end of this year. Goldman Sachs also indicated it would begin measuring and disclosing its financed emissions, though the announcement lacked further details on the bank’s methodology for doing so and its near-term steps for cutting emissions.
Washington, DC -- Today, Citi announced a new commitment to reach net zero greenhouse gas emissions for its financing by 2050, but put off providing key details, instead promising an initial plan “within the next year.” Citi announced that its net zero plan will include “emissions reduction targets for carbon-intensive sectors that also have low-carbon transition opportunities, including interim emissions targets for 2030 for our Energy and Power portfolios.” Citi has been the