Washington, DC -- Today, President Biden issued a broad-ranging Executive Order to address climate-related financial risks to the U.S. economy, including steps to begin mitigating the damage caused by the financing of fossil fuels and other risky, high-carbon sectors.
Washington, DC -- Today, JPMorgan Chase released its 2030 interim emissions “intensity” targets for its financing of oil and gas, electric power, and auto manufacturing, following the bank’s October commitment to align its financing activities with the goals of the Paris Agreement.
BlackRock and Vanguard Fail to Disclose How They Voted
San Francisco, CA -- Today, at Wells Fargo’s virtual annual shareholder meeting, the bank faced questions about its massive fossil fuel financing and lack of a credible climate-aligned transition plan, but top shareholders like Vanguard and BlackRock appeared to maintain the status quo by voting to re-elect Board Chairman Charles Noski.
Today, on the eve of President Biden's Leaders Summit on Climate, saw the announcement of the Net-Zero Banking Alliance (NZBA), an industry-led initiative including a set of guidelines for banks to use in implementing net zero commitments and setting science-based targets for 2030 or sooner.
Washington, DC -- Today, the Department of the Treasury announced the appointment of John Morton as the Department’s first Climate Counselor to Treasury Secretary Janet Yellen. Morton is tasked with leading the newly established Climate Hub that will work across the Department to mitigate climate-related financial risks and advance President Biden’s goals of 100% clean energy and a net zero emissions economy.
New York, NY — Today, JPMorgan Chase announced a goal to finance and facilitate $2.5 trillion into climate solutions and sustainable development over the next ten years, but the bank failed to make any new commitments to reduce its financing of fossil fuels and overall climate impact.
New York, NY -- Today, JPMorgan Chase (JPMC) CEO Jamie Dimon released his influential annual letter to shareholders.
Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
*** Read report here: http://www.bankingonclimatechaos.org/ ***
New York, NY - Today, Citigroup issued an updated environmental policy that makes it the first major US bank with a plan to restrict financing for companies expanding coal power and to phase-out financing for nearly all coal power companies over the next two decades.