ESG
ESG
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Going green takes time, so lenders need to start revamping entire business relationships now, according to one sustainability-focused nonprofit. That process could include setting environmental goals for fossil-fuels companies and other customers that are conditions for continuing to finance them.
February 26 -
Geneviève Piché, who has worked in investment banking at the company for 20 years, will be in charge of helping corporate clients make environmentally and socially responsible investments.
February 26 -
Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from environmentalists?
February 11 -
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Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.
February 10 -
Marcus Martin will be responsible for expanding sustainable investing options for the Minneapolis company's corporate and commercial customers.
February 10 -
The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.
January 6 -
Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.
December 18 -
His comments came a day after the Fed announced it had formally joined an international network of central bankers and regulators focused on mitigating climate risk to the financial sector.
December 16 -
Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.
November 20 -
The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.
November 20 -
The Toronto company says it will begin by gathering data on the greenhouse gas emissions of borrowers — a critical first step toward stress testing for climate events.
November 9 -
The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial disclosures detailing climate-related risk.
October 29 -
Innovation is key in today's dynamic market. Suni Harford, president, asset management at UBS walks us through two significant innovations she drove in the asset management industry this year — including a ground-breaking approach to climate change and sustainable investing.
October 15 -
Even more so than activist investors, customers and a new generation of employees are driving banks to back environmental, social and governance reforms, executives said during a Women in Banking roundtable hosted by American Banker.
October 9 -
HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.
October 6 -
New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.
October 4 -
The initiative, backed by Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, is Bank of America’s eighth environmental, social and governance-themed bond.
September 28 -
An international coalition led by Bank of America chief Brian Moynihan has proposed a framework for assessing how well big corporations are meeting the environmental, social and governance expectations of investors who value stakeholder capitalism.
September 24 -
Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended.
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