The industry needs to get to a 4-to-1 ratio of clean energy versus fossil-fuel financing. At the end of last year, it was 0.73 to 1— little changed from 2021.

Under the Corporate Sustainability Due Diligence Directive, large companies face civil liability for environmental and human rights violations in their value chains. According to the compromise announced on Thursday, the financial sector will be temporarily excluded from the scope of the directive.

Once considered key drivers of the boom in ESG investing, millennial and Gen Z investors no longer seem so supportive now that the economy is experiencing more turbulence, a new study finds.

Five large U.S. banks are among 50 global financial institutions that climate activists are targeting as they push to end financing of metallurgical coal projects.

Banks including Morgan Stanley, HSBC, Goldman Sachs and JPMorgan Chase have announced individual sustainable finance targets for 2030 that range from $750 billion to $2.5 trillion. Yet such statements leave investors with little real insight into the very different ways in which banks are defining what's sustainable.

Purchases by banks, airlines, industrial heavyweights and other businesses fell for the first time last year, according to Bloomberg Green's analysis of data in three public registries covering more than 260,000 transactions since 2010. Yet corporate buyers increased purchases of offsets derived from a particularly controversial source — wind, hydro and solar projects.

Banks are taking too long to treat climate and environmental risks as a material threat that can impact their finances, according to the ECB.

The JPMorgan Chase chief says Texas risks undermining its business-friendly reputation with laws designed to punish Wall Street banks for policies that limit work with the gun and fossil-fuel industries.