climate change

KeyCorp raises community investment plan to $40 billion

03/12/21

The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability.

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Wells Fargo targets net-zero emissions after rivals set goals

03/08/21

The bank also committed to finance $500 billion in sustainable businesses and projects by 2030.

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A business deposit account that sweeps cash into green projects

03/04/21

MUFG Union Bank is offering a new deposit product to commercial clients who want to see their cash reserves used to help finance sustainable projects, such as renewable energy or green transportation.

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Challenger bank helps customers erase carbon footprints

03/03/21

Aspiration makes donations to a tree-planting charity based on debit card spending, buys carbon offsets for gas purchases and rates retailers' environmental records.

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On Fraser’s first day as Citi CEO, a net-zero emissions pledge

03/01/21

Citigroup is one of the world's largest lenders to the fossil fuel industry, but CEO Jane Fraser vowed on Monday that the bank would achieve net-zero greenhouse-gas emissions in its financing activities by 2050.

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Heat's on lenders to reduce climate risk. Big question is how.

02/26/21

Going green takes time, so lenders need to start revamping entire business relationships now, according to one sustainability-focused nonprofit. That process could include setting environmental goals for fossil-fuels companies and other customers that are conditions for continuing to finance them.

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Fed's Brainard backs stress test-like exercise to address climate risks

02/18/21

Federal Reserve Gov. Lael Brainard said "scenario analysis" is distinct from traditional regulatory tools to assess capital strength, but can measure the long-term impact of weather events and the transition to a greener economy.

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What Biden's infrastructure plan could mean for banks

02/11/21

Transportation and clean-energy upgrades could create significant new lending opportunities, but some observers fear the government will foot the bill through a special tax on banks and other financial firms.

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This startup bank's mission: Environmental justice

02/10/21

Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.

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Get the transition to green financing right

02/05/21

Regulators are right to encourage environmentally responsible lending, but with the transition to a low-carbon economy likely to take decades, they can’t allow banks to cut off lending to polluting firms cold turkey — especially to those making good-faith efforts to lower emissions.

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