Investments

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.

Securities and Exchange Commission Chair Gary Gensler and Treasury Under Secretary for Domestic Finance Nellie Liang see urgency in shoring up liquidity in government debt markets during times of stress.

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.

The Infrastructure Investment and Jobs Act provides billions in grants for state and local governments. The challenge now is how quickly and effectively they can spend it amid an inflation–fueled rising–rate environment.

Wall Street is walking into a new era of risk that has bankers, lawyers and climate campaigners reaching for a different playbook.

CI Financial Corp. outlined a plan to reduce debt and separate its US and Canadian businesses as the fund manager tries to rebuild investor confidence in its growth strategy.

Bank of America, the biggest corporate issuer of bonds tied to environmental, social and governance financing in the U.S., returned to the ethical debt market for the first time this year as Wall Street giants dial back issuance amid skyrocketing borrowing costs.

Investment is flowing out of stablecoins into assets like U.S. Treasuries in response to prevailing macroeconomic conditions, according to Circle Internet Financial Chief Executive Jeremy Allaire.

Ally Financial and Truist Financial took different approaches to achieve the same aim: giving digital investing clients the option of speaking with an advisor.

The global climate coalition said in a new report that its members maintain "independent investment decision-making" authority after some U.S. banks grew concerned about legal exposure to rules requiring the phaseout of fossil-fuel investments.

Protesters blocked traffic around JPMorgan Chase's New York City offices Friday morning, calling for Gov. Kathy Hochul to use a tax on the wealthy to fund climate measures. 

Bank of Montreal agreed to buy carbon credits from CarbonCure Technologie, a company backed by investors including Amazon.com.

Royal Bank of Canada is targeting cuts in the concentration of emissions from parts of its lending portfolio this decade, while shying away from the stronger, absolute-emissions reductions that other global banks have promised.