WASHINGTON, DC — The Financial Stability Oversight Council (FSOC) today announced that the Office of Financial Research has launched a new Climate Data and Analytics Hub pilot program, “a new tool to help financial regulators assess potential risks to financial stability stemming from climate change.”
Institutional Investors Group on Climate Change reveals banks in North America, Europe, and Asia are failing the climate goals of the Paris Agreement
Annual shareholder engagement report shows fewer votes on environmental, social proposals this year
WASHINGTON, DC — Treasury Secretary Janet Yellen told reporters in Bali on Saturday that the Financial Stability Oversight Council (FSOC) is "not really a direct tool to address climate change.” This directly contradicts earlier commitments made by Yellen and the Biden administration to address the systemic risk that climate change poses to the economy.
Morgan Stanley, Goldman Sachs tout inclusion in Banking on Climate Chaos report in response to inquiries on fossil fuel financing
Today’s findings from the International Energy Agency’s latest energy investment report demonstrate how increasingly out of touch the financial industry is with the reality of what’s needed to achieve its own climate commitments.
70+ groups, nearly 15,000 Sierra Club members submit comments supporting federal agency’s draft rule requiring publicly traded companies to acknowledge greenhouse gas emissions, climate-related financial risks
The Race to Zero campaign’s new criteria are a major step forward, and makes clear that in order for the net-zero commitments at financial institutions to be credible, they must explicitly commit to phase out financing for new fossil fuels.
Esta mañana, los accionistas de JPMorgan Chase fracasaron en su intento de aprobar resoluciones climáticas claves, al rechazar propuestas que hubieran obligado al banco acabar su apoyo al desarrollo de nuevas explotaciones de combustibles fósiles y para establecer objetivos absolutos de reducción de la financiación de emisiones de efecto invernadero.
NEW YORK — This morning, JPMorgan Chase shareholders failed to pass two key climate resolutions, voting down proposals to push the bank to end its support for new fossil fuel development and to set absolute targets for reducing its financed greenhouse gas emissions. Despite the outcome, climate activists applauded the final votes, as well as shareholder votes on unprecedented climate resolutions at other big U.S.
When JPMorgan Chase faces its shareholders this Tuesday, the bank will face votes on two key shareholder resolutions pushing the bank to clean up its act on climate.
Today, Wells Fargo announced new 2030 targets to reach its commitment to net-zero financed emissions by 2050. The plan includes a commitment to reduce absolute financed emissions from the oil and gas sector by 26% and financed emissions intensity from the power sector by 60%. These targets do not explicitly prevent the bank from financing fossil fuel expansion.