Goldman Sachs Group agreed to buy the asset-management arm of the Dutch insurer NN Group NV as the bank grabs a toehold in the fast-growing sustainable-investing industry and boosts its European ties.

In combining with the special-purpose acquisition company InterPrivate III Financial Partners, the fintech says it will have more than $400 million to pour into marketing campaigns and invest in new technology.

The Pittsburgh bank's commitment covers areas that include renewable energy, clean transportation and green buildings.

The new standards give some 300 listed banks up to five years to meet targets for including women and minorities on their boards, or explain why they aren't doing so. State officials and investors had already pushed banks about the need to rethink their approaches to recruiting directors.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

Sen. Patrick Toomey, the ranking Republican on the Banking Committee, has argued that research by the Federal Reserve into these topics could result in “mission creep.” Fed officials have said their job includes fostering inclusive economic growth and ensuring the banking system is girded against financial risks posed by climate change.

Until recently, only the largest financial services firms were tallying the risks from climate change and opportunities in the green economy. But a new report from Regions Financial suggests the practice is gaining wider traction.

Sen. Patrick Toomey, the top Republican on the Banking Committee, criticized acting Comptroller of the Currency Michael Hsu and others in the Biden administration for advancing “social goals that are unrelated to banking.”

BlackRock and other major financial institutions are working on plans to accelerate the closure of coal-fired power plants in Asia in a bid to phase out the use of the worst man-made contributors to climate change.

The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.

The state's department of financial services is asking firms that it supervises to report information about the composition of their boards and senior leadership. It expects to publish aggregate findings in early 2022.

The Rhode Island bank joins a small group of financial institutions offering corporate clients the chance to park their cash reserves in environmentally friendly projects.

The European Union’s planned Green Asset Ratio, intended to reveal how much a bank lends to climate-friendly companies and projects, will offer a distorted picture of reality, according to a Bloomberg survey of some 20 major European banks.

The Minneapolis company recently advised a nonprofit on a $30 million issuance that will provide financing to developers building multifamily housing and community facilities. It includes a framework, which the bank intends to deploy again, for informing investors on how the money is being used.

Novus, a startup whose app helps consumers make environmentally conscious purchases, is using application programming interfaces provided by the two companies to expand quickly. The effort shows how open banking can extend the reach of small companies and create new business lines for larger ones.

U.S. Treasury Secretary Janet Yellen signaled she’ll prod multilateral development banks to rein in their lending for fossil fuels, part of a global effort to make the financial system greener.

As attitudes about corporate responsibility evolve, regulators will expect banks to take a more proactive approach to environmental, social and governance issues. That means going beyond assessing climate-related risks to incorporate a focus on ethics, culture, inclusion and customer protection.

Jennifer Eastes is tasked with spearheading and accelerating environmental, social and governance efforts at the Cleveland-based company.

The issues associated with environmental, social and governance policies cut across all the traditional concepts of risk facing bank executives and will endure for years.

Credit Suisse Group and JPMorgan Chase’s asset and wealth management business are working together to develop a new investment strategy focused on sustainable nutrition.