Climate change

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Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.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

Some of the country's largest banks, including Bank of America, Citi and Morgan Stanley, said they support efforts to increase capacity, highlighting nuclear's role in the clean energy transition.

Tech companies and banks are trying to shrink the carbon footprints of the large language models they create, host and deploy. Can they move fast enough?

Bank of America, Citigroup, HSBC and others are increasingly using sustainable and recycled materials for manufacturing

Elizabeth Warren was among those who criticized Dimon for saying that the bank is going to move away from "commitments" toward "aspirations" on climate.

The Federal Reserve Thursday released a report on its climate scenario analysis pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.

The two megabanks have agreed to release a ratio that measures their level of financing for low-carbon energy versus fossil fuels. The banks' moves follow pressure regarding climate change from entities associated with New York City's local government.

The Securities and Exchange Commission finalized a pared-down version of rules governing climate-risk disclosure by public companies first proposed in March 2022. Experts say even the weakened rule will likely face challenges in Congress and the courtroom.

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Left-leaning shareholder groups are asking JPMorgan Chase, Goldman Sachs and other large asset managers to explain a recent decline in their support for certain environmental and social policies at public companies.

Whether it's bracing for a hurricane or helping members reduce their environmental impact, many credit unions are making the planet's health a focal point of community engagement.

The guidelines from the Fed, FDIC and OCC resemble proposals issued in recent years by each of the agencies, and they do not prohibit any specific activities. But the broadness of the directives and the singling out of climate risk drew criticism from banks and some policymakers.

Goldman Sachs Group Chief Executive Officer David Solomon defended the need to support traditional energy companies, batting away demands from climate activists to abandon their clients in that sector.