Investments

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.

The amount of money that investors are parking at a major Federal Reserve facility climbed to yet another all-time high as funds sought out places to stash short-term cash.

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.

The Swiss bank's municipal-underwriting subsidiary lost out on a bond deal after the state comptroller included the parent company on a list of firms he deems "boycott" the fossil fuels industry.

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.

A Texas city declined to award a bond deal this week to Citigroup even though the bank submitted the most competitive bid, showing how Wall Street is still contending with a Republican-backed state law that punishes financial firms for taking on gun policies.

The Pennsylvania banking company could use the proceeds from its initial public offering to pursue acquisitions.

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.

Pentagon Federal Credit Union recently sold $460.3 million in securities backed by prime auto loans.

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 Charlotte, North Carolina, bank is one of several that have embedded automated investing in their online and mobile banking, alongside access to human advisors.