climate change

Global banking group issues carbon accounting standards


The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.


The Senate may not flip but Banking Committee is poised for shake-up


If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.


TD Bank pledges net-zero carbon emissions by 2050


The Toronto company says it will begin by gathering data on the greenhouse gas emissions of borrowers — a critical first step toward stress testing for climate events.


Nonbank sector needs reform to combat risk to financial stability: Fed


Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report.


N.Y. regulator is first to issue climate guidance for banks, credit unions


The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial disclosures detailing climate-related risk.


U.S. banks' climate disclosures seen as too narrow to reflect risk


U.S. banks are taking too narrow of an approach when disclosing their exposure to climate risk and are potentially underestimating possible losses, according to a report released Monday.


Goldman Sachs expands sustainability efforts with new investing team


Goldman Sachs Group is starting a group focused on investment opportunities in clean energy, waste and other sustainability industries, joining several major banks in making climate commitments in recent weeks.


JPMorgan plans to set climate targets for financing portfolio


JPMorgan Chase is planning to set emissions targets for its financing portfolio, joining other massive banks in bringing climate goals to its lending activity.


How lenders aim to profit from climate change


HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.


Organizers propose 'values-based' bank in Florida


Climate First Bank, which would be led by veteran banker Ken LaRoe, would offer loans to help individuals and organizations make environmentally sound decisions.