fossil-free-finance

Investors With Nearly $250 Billion In Assets Urge Big Banks to Dump Mountain Valley Pipeline

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

New Coalition Urges Banks to End Bad Bets On Fracked Gas Pipeline

a group of environmental and financial organizations announced the launch of the DivestMVP coalition

Bank of America Sets Net-Zero Emissions Target Without Key Details To Get There

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. 

Trump’s Last-Ditch Banking Rule On Its Last Leg

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.

Trump’s Last-Ditch Banking Rule Seeks to Prop Up Fossil Fuels

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.

With Bank of America Announcement, Every Major US Bank Has Ruled out Funding for Arctic Drilling

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.

Sierra Club Statement on President-elect Biden’s Nomination of Janet Yellen for Treasury Secretary

Today, President-Elect Biden announced he will be nominating former chair of the Federal Reserve Janet Yellen as his Treasury Secretary.

Trump Administration Tries to Bully Banks into Funding Fossil Fuels

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.

Bank of America Faces Shareholder Pressure Over Arctic Drilling

A new shareholder resolution filed by Trillium Asset Management raises concerns about Bank of America’s refusal to rule out financing for new drilling in the Arctic, including the Arctic National Wildlife Refuge.

TD is Latest Financial Institution to Pledge Net-Zero Emissions by 2050

TD Bank Group released a new climate action plan today, pledging to achieve net-zero greenhouse gas emissions from its operations and financing activities by 2050. The bank is the latest major financial institution to make such a commitment, following similar announcements by Morgan Stanley and Barclays.

JPMorgan Chase, World’s Biggest Funder of Fossil Fuels, Commits to “Paris-Aligned” Financing

JPMorgan Chase has reportedly pledged to work toward net-zero financed emissions by 2050. Chase is by far the world’s biggest banker of fossil fuels, pouring more than $268 billion into the fossil fuel industry from 2016 to 2019.

Morgan Stanley Sets Net-Zero Financed Emissions Target Without Key Details

Today, Morgan Stanley announced a new commitment to reach net-zero financed emissions by 2050. Morgan Stanley is the first major American bank to set such a target, though the announcement did not include details on the bank’s plan to get there.