Climate change

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

A trio of blazes in SoCal have destroyed over 2,000 homes and structures in neighborhoods with average property values well above the national average.

The wildfires add pressure to California's home insurance market, which has faced a growing crisis in recent years.

The banking giant's exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks' departures a capitulation to Republicans' climate denialism.

Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.

Goldman will no longer be a member of the Net-Zero Banking Alliance, a decision largely motivated by a need to comply with mandatory reporting guidelines.

The founder of a bank whose mission is to reduce atmospheric carbon dioxide is undaunted by the prospect of a more fossil-friendly Trump administration.

Banks reporting their energy supply ratios, which compare rates of lending to fossil fuel projects and clean energy projects, should be required to do so in a way that allows easy comparisons across institutions.

JPMorgan Chase, Bank of America, Citigroup and other big banks have committed to reaching net-zero emissions by 2050. But their execution is lagging behind their pledges, according to a new report by the environmental group.

Investors and startups see the AI boom in financial services and across the economy driving the necessity for cleaner power.