Climate change

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.

Protesters who were arrested after blocking the entrances to big-bank offices in New York say they'll keep pushing for action on climate change. "I think the intensity of protests will only grow from what it has been over the last week," one activist said.

The nine-part guidance establishes best practices for financial institutions that want to pursue carbon-neutral strategies. In a speech, the Treasury secretary cautions firms against being "left behind."

The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.

The House Financial Services Committee held a subcommittee hearing with senior staff from banking agencies, while the oversight branch of the panel questioned some large banks on their ESG efforts in asset management units.

A scorecard from the sustainable finance advocate Ceres found that federal agencies overseeing the financial system have adopted measures to account for climate-related financial risks but have not yet issued enforceable regulations.

A report from the Treasury Department's Federal Insurance Office urges state regulators to spruce up their toolkits for monitoring and mitigating the impact of climate change on homeowners insurance.

Pledges to get to net-zero funded emissions by 2050 appear to be falling by the wayside as oil companies expand their fossil fuel extraction operations.

Ajay Banga's election will give the Biden administration a chance to evolve the anti-poverty lender toward a greater focus on climate change.

Fifty congressional Democrats urged regulators to propose "strong" climate disclosure regulations in finalized rules that are expected to be released in the coming weeks.