ESG

OCC seeks to bar banks from shunning disfavored industries

11/20/20

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.

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Global banking group issues carbon accounting standards

11/20/20

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.

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TD Bank pledges net-zero carbon emissions by 2050

11/09/20

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.

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

10/29/20

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.

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Young workers, clients press banks to take stand on social issues

10/09/20

Even more so than activist investors, customers and a new generation of employees are driving banks to back environmental, social and governance reforms, executives said during a Women in Banking roundtable hosted by American Banker.

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How lenders aim to profit from climate change

10/06/20

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.

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Activist bank investors run into an SEC roadblock

10/04/20

New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.

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BofA’s $2 billion bond aims to curb race inequality, spur market

09/28/20

The initiative, backed by Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, is Bank of America’s eighth environmental, social and governance-themed bond.

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BofA leads effort to draft global ESG standards for public companies

09/24/20

An international coalition led by Bank of America chief Brian Moynihan has proposed a framework for assessing how well big corporations are meeting the environmental, social and governance expectations of investors who value stakeholder capitalism.

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Pressure mounts on U.S. bank regulators to stress test for climate change

09/20/20

Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended.

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