In a report published Tuesday, the nonprofit Finance Watch estimates that the 60 largest global banks have about $1.35 trillion of credit exposures to fossil fuel assets.

The SEC and other regulatory agencies have raised the environmental, social and governance ante. Financial institutions will need to find a way to chip in before the stakes are raised even higher.  

Canadian Imperial Bank of Commerce set a goal of reducing the carbon-emissions intensity of its lending to power generators, adding to targets it has already placed on the oil and gas industry.

JPMorgan Chase Chief Executive Jamie Dimon said that the U.S. needs to invest in the fossil fuel industry to reduce greenhouse-gas emissions in the long term and protect economic growth.

The Rhode Island bank's agreement to purchase power from Ørsted will support the development of a new wind farm in Kansas. Citizens will receive renewable energy credits.

Adrienne Harris, superintendent of the New York State Department of Financial Services, previewed the agency's upcoming climate guidance in an interview with American Banker. Banks "cannot sacrifice" their fair lending and equity obligations "in order to mitigate climate risk," she said.

In the coming midterm elections, bankers ought to pay attention to candidates for state treasurer, controller and other historically low-profile offices.

The democratization of corporate governance, ESG initiatives and other insights from Broadridge CEO Tim Gokey.

At an industry conference, a Federal Reserve official spoke about standardizing climate risk disclosures, while a representative from the Office of the Comptroller of the Currency examined the red-state backlash against banks that disfavor fossil fuels.

JPMorgan Chase has teamed up with the software firm Datamaran to develop a data-analysis tool for clients to gauge not just the environmental, social and governance risks facing portfolio companies, but also the ESG risks that such assets pose to the world around them.

Lawmakers in the nation's most populous state failed to pass a measure, opposed by industry groups, that would have required larger companies to report their greenhouse gas emissions. Publicly traded companies may soon face similar requirements at the federal level.

California Attorney General Rob Bonta and his New York counterpart, Letitia James, urged the CEOs of Visa, Mastercard and American Express to create a merchant category code for guns and ammunition stores. They argued that "all options must be on the table to remedy" the "scourge of gun violence" in the United States.

The Ohio bank, which has been releasing more information about its Scope 3 emissions, promised to take steps with customers and suppliers to reduce their collective impact on climate change.

The Securities and Exchange Commission is facing a legal challenge from groups that argue rules meant to diversify the boards of banks and other publicly traded companies amount to discrimination.

The financial industry is offering loans for solar energy projects, carbon emission trackers, green mortgages and cash-back incentives to help customers go green.

JPMorgan Chase, which has mostly been absent from the business of underwriting Texas municipal bonds for the past year, plans to revive its work with the state and its local governments soon.

Texas is taking steps that could cost BlackRock, UBS Group and eight other finance firms business with the state after finding them to be hostile to the energy industry.

A growing number of challenger banks and fintechs are trying to help customers live more sustainable lives through carbon calculators with localized data.

"Animal welfare scores low in priority at many financial institutions" in the U.S., says Merel van der Mark, animal welfare and finance program manager for Sinergia Animal, an organization based in Brazil that has been maintaining a ranking of how banks around the world perform on several measures of ethics with regard to animals.

Dominica Groom Williams succeeds Wendy McSweeney, who’s joining a new team at the bank focusing on environmental, social and governance issues.