The two megabanks have agreed to release a ratio that measures their level of financing for low-carbon energy versus fossil fuels. The banks' moves follow pressure regarding climate change from entities associated with New York City's local government.

Six financial institutions may be placed on West Virginia's restricted list if they are found "boycott" the fossil fuel industry, Riley Moore said.

BNP Paribas Asset Management says its ESG clients have been moving into money market funds in reaction to volatility in the market.

The departures are occurring during a period of heightened U.S. political backlash against the environmental, social and governance investing strategy. Republican officials across the country have launched investigations into banks and asset managers, introduced anti-ESG laws and pulled funds from firms such as BlackRock, which championed sustainable investing.

Barclays has redesigned the Cambridge Eagle Lab to focus on companies that develop sustainable and other environmentally focused technology, Vodafone expanded its partnership with global fintech MoneyHub to offer its financial wellness app, and more in this week's global news roundup.

The next few years will mark the transition of sustainable finance in Latin America through its adolescence and towards maturity.

A federal judge rejected every one of Missouri's arguments for why SIFMA's lawsuit should be dismissed.

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Left-leaning shareholder groups are asking JPMorgan Chase, Goldman Sachs and other large asset managers to explain a recent decline in their support for certain environmental and social policies at public companies.

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.