ESG

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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Wells Fargo promotes veteran executive to new ESG post

02/26/21

Geneviève Piché, who has worked in investment banking at the company for 20 years, will be in charge of helping corporate clients make environmentally and socially responsible investments.

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Banks' latest green battle: Plastics pollution

02/11/21

Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from environmentalists?

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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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U.S. Bancorp adds banker to find sustainable investments for clients

02/10/21

Marcus Martin will be responsible for expanding sustainable investing options for the Minneapolis company's corporate and commercial customers.

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Banks pick apart OCC ‘fair access’ plan, but customers praise it

01/06/21

The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.

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Citi warns of ‘meaningful’ increase in loan losses on carbon tax

12/18/20

Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.

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Fed's Powell calls climate change 'an emerging risk' to banks

12/16/20

His comments came a day after the Fed announced it had formally joined an international network of central bankers and regulators focused on mitigating climate risk to the financial sector.

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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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