A carbon-credit transaction network developed by nine banks including Canadian Imperial Bank of Commerce and UBS Group is a step closer to launching early next year after completing a series of pilot trades.

Banks, fintechs and advisors are cautiously pushing investments next year to keep up with industry expectations.

Texas lawmakers pressed finance industry executives they summoned to a remote corner of the state for a hearing Thursday, questioning whether their environmental, social and governance policies are hindering state pension investments.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

HSBC Holdings will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.

The Texas Attorney General's office will decide by Jan. 13 whether Citigroup "discriminates" against the firearms industry, a ruling that will determine the bank's ability to underwrite most municipal bond offerings in the state.

JPMorgan Chase Chief Executive Jamie Dimon praised the results of last month's U.S. midterm elections, saying cooperation in Congress may be more likely since both parties' "wing nuts didn't get elected."

Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren't upended by an evolving set of ESG risks, according to Berkeley Research Group.

Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.

As climate transition evolves in the coming years, banks will be in position to finance a wider range of decarbonization efforts than they have in the recent past, according to a new report from McKinsey.

The Inflation Reduction Act is starting to change the way bankers view their climate targets.

Thomas Montag, once the second-most powerful executive at Bank of America, is returning to Wall Street with the launch of a carbon-credit venture backed by TPG Inc.

BlackRock and UBS Group are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

The Boston bank is engaged in a three-year endeavor to finance $5 billion to meet the credit needs of underserved communities. "This has to be in your DNA because you cannot fake it," CEO Nitin Mhatre said.

Goldman Sachs Group will pay $4 million to settle U.S. regulators' claims that its asset management unit didn't properly weigh environmental, social and governance factors in some of its investment products.

In the House of Representatives, Rep. Patrick McHenry wants to push regulators and bank CEOs on their ESG investments, but the real action is happening at the state level.

Even though there has been some progress over the last eight years, men continue to hold many more board seats and jobs on executive teams than women, according to a recent report from DBRS Morningstar.

Republican control of the U.S. House of Representatives will help advance financial services firms' priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular U.S. consumer watchdog.

The Kentucky Bankers Association is seeking to halt Attorney General Daniel Cameron's investigation into climate commitments made by six large banks. The suit alleges that the AG overstepped his authority by seeking to compel the banks to turn over certain documents and communications.

Tools used by financial regulators to gauge the impact of climate change on the financial system are probably underestimating the potential damage because of incomplete data and inadequate scenario analyses, according to Financial Stability Board, a watchdog group.