News Topic: climate change

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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. ]] ... Read full article

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. ]] ... Read full article

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. ]] ... Read full article

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 ... Read full article

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 ... Read full article

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. ]] ... Read full article

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

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

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. ... Read full article

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

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. ... Read full article

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 ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article