February 11, 2021
Washington, DC -- Today, Bank of America announced a new commitment to reach net-zero greenhouse gas emissions in its financing activities, operations and supply chain before 2050, and released an updated environmental policy.
January 28, 2021
Washington, DC -- Today, news broke that a proposed Trump administration rule which tries to force banks to lend to fossil fuel companies, without regard to strategic or reputational risks, has been put on hold indefinitely.
January 14, 2021
Washington, DC -- Today, just 10 days after the public comment period ended (which saw more than 35,000 public comments), the Trump administration’s Office of the Comptroller of the Currency (OCC) finalized a rule which effectively tries to force banks to lend to fossil fuel companies and other businesses without regard to strategic or reputational risks.
November 30, 2020
Bank of America has reportedly joined its peers and ruled out funding for new drilling in the Arctic, including the Arctic National Wildlife Refuge. Goldman Sachs, Morgan Stanley, Chase, Wells Fargo, and Citi have all announced similar policies this year. Bank of America has faced mounting pressure in recent months from Indigenous communities, environmental advocates, and shareholders to follow suit.
November 29, 2020
Today, President-Elect Biden announced he will be nominating former chair of the Federal Reserve Janet Yellen as his Treasury Secretary.
November 20, 2020
Today, the Trump administration’s Office of the Comptroller of the Currency (OCC) released a new proposal aimed at forcing banks to fund fossil fuel companies.
November 16, 2020
A new shareholder resolution filed by Trillium Asset Management raises concerns about Bank of America’s refusal to rule out financing for new drilling in the Arctic, including the Arctic National Wildlife Refuge.
November 9, 2020
TD Bank Group released a new climate action plan today, pledging to achieve net-zero greenhouse gas emissions from its operations and financing activities by 2050. The bank is the latest major financial institution to make such a commitment, following similar announcements by Morgan Stanley and Barclays.
October 6, 2020
JPMorgan Chase has reportedly pledged to work toward net-zero financed emissions by 2050. Chase is by far the world’s biggest banker of fossil fuels, pouring more than $268 billion into the fossil fuel industry from 2016 to 2019.
September 21, 2020
Today, Morgan Stanley announced a new commitment to reach net-zero financed emissions by 2050. Morgan Stanley is the first major American bank to set such a target, though the announcement did not include details on the bank’s plan to get there.