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Press Releases


Investors File Climate Shareholder Resolutions at Major US, Canadian Banks

NEW YORK – Today, several institutional investors — including the New York City Comptroller, As You Sow (AYS), Sierra Club Foundation (SCF), Trillium Asset Management, and Harrington…

Just 7% of Global Banks' Energy Financing Goes to Renewables, New Data Shows

NEW YORK — Major global banks are standing in the way of climate targets with new data showing just 7% of their financing for energy companies went to renewables between 2016 and 2022.The data,…

Report Reveals GFANZ Members Provide Hundreds of Billions in Finance for Fossil Fuel Expansion

Paris — After committing to net zero by joining the Glasgow Financial Alliance for Net Zero (GFANZ), financial institutions around the world have continued pouring hundreds of billions of dollars…

JP Morgan Chase Sets Lukewarm Emissions Reduction Targets in New Sectors

NEW YORK — JP Morgan Chase, the largest bank in the US and the world’s biggest funder of fossil fuels, has published a slew of new emissions reduction targets, covering high-emitting sectors…

Advocacy Groups call on US Treasury to Measure Impact of Climate Crisis on Insurance

WASHINGTON, D.C. — More than 75 advocacy and environmental groups including the Sierra Club have called on the U.S. Treasury Department to begin collecting consistent, comparable, and granular…

Major Asset Managers BlackRock, State Street Testify on Climate at Texas Hearing

MARSHALL, TEXAS – Executives from two of the world’s biggest asset managers — BlackRock and State Street — as well as proxy advisory firm ISS appeared today before a state senate committee in…

Europe's Largest Bank HSBC Ends New Oil & Gas Funding

WASHINGTON, DC — Groups representing a broad section of the US climate movement are demanding that US banks halt funding for new oil and gas projects, following a dramatic change to European…

Vanguard’s Greenwashing Front and Center as Asset Manager Quits Global Net-Zero Group

WASHINGTON, DC — The world’s second largest asset manager, Vanguard, announced today that it has quit the Net Zero Asset Managers Initiative (NZAM), as well as the Glasgow Financial Alliance for Net…

Department of Labor Restores Ability for Asset Managers to Consider Climate Risks to Retirement Savings

WASHINGTON, DC  – The Sierra Club’s Fossil-Free Finance campaign applauds a move announced today by the US Department of Labor (DOL) that restores the ability for managers of private, employer-…

COP 27: Net Zero Banking Alliance, Net Zero Asset Managers Initiative Publish Updates

SHARM EL SHEIKH — Today during Finance Day at COP 27, two global financial sector alliances, the Net Zero Banking Alliance (NZBA) and Net Zero Asset Managers (NZAM) initiative released updates about…