climate change

GOP senator says research by San Francisco Fed is 'mission creep'

03/29/21

Sen. Pat Toomey, R-Pa., warned the regional Federal Reserve bank that its papers about environmental, social and corporate governance policies hurt its ability to stay neutral on partisan issues.

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Citi creates new investment banking unit in sustainability push

03/29/21

The move is part of a broader push at Citigroup to reduce carbon emissions. Jane Fraser, who took over as CEO on March 1, vowed on her first day that the bank would achieve net-zero greenhouse gas emissions in its financing activities by 2050.

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Big banks are scaling back fossil fuel lending, but for how long?

03/25/21

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

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Fed, Treasury vow to evaluate climate change risk to financial system

03/23/21

Top officials at the U.S. central bank and Treasury Secretary Janet Yellen reaffirmed their commitment to understand how extreme weather events affect financial institutions and the economy as a whole. Many Republicans, however, worry the Federal Reserve’s new climate focus strays too far from its traditional function.

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U.S. weighs global benchmark on climate impact for Wall Street

03/19/21

The Treasury Department and U.S. regulators aim to boost demand for assets that tackle climate change, while preventing companies from making claims that could be considered “greenwashing,” or overstating the significance of emissions reductions and sustainability efforts.

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Senate Banking panel draws partisan lines on regulators' climate role

03/18/21

Democrats want regulators to actively protect the financial system from losses tied to extreme weather events, while Republicans say climate policy is "beyond the scope" of their mission.

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