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
investors representing $244.9 billion in assets under management sent letters to ten of the biggest banks in America urging them to stop funding the controversial fracked gas MVP
a group of environmental and financial organizations announced the launch of the DivestMVP coalition
Washington, DC -- Today, Bank of America announced a new commitment to reach net-zero greenhouse gas emissions in its financing activities, operations and supply chain before 2050, and released an updated environmental policy.
Washington, DC -- Today, news broke that a proposed Trump administration rule which tries to force banks to lend to fossil fuel companies, without regard to strategic or reputational risks, has been put on hold indefinitely.
Washington, DC -- Today, just 10 days after the public comment period ended (which saw more than 35,000 public comments), the Trump administration’s Office of the Comptroller of the Currency (OCC) finalized a rule which effectively tries to force banks to lend to fossil fuel companies and other businesses without regard to strategic or reputational risks.
Bank of America has reportedly joined its peers and ruled out funding for new drilling in the Arctic, including the Arctic National Wildlife Refuge. Goldman Sachs, Morgan Stanley, Chase, Wells Fargo, and Citi have all announced similar policies this year. Bank of America has faced mounting pressure in recent months from Indigenous communities, environmental advocates, and shareholders to follow suit.
Today, President-Elect Biden announced he will be nominating former chair of the Federal Reserve Janet Yellen as his Treasury Secretary.
Today, the Trump administration’s Office of the Comptroller of the Currency (OCC) released a new proposal aimed at forcing banks to fund fossil fuel companies.