Investments

Citigroup and Bank of America have done more to support the expansion of fossil-fuel companies than any other lenders claiming to target net-zero financed emissions, according to a new analysis comparing industry pledges to action.

The Pittsburgh bank said the commitment supports its community benefits plan and will help meet client demand for climate-friendly investments.

Matthew Quale was formerly the president of Bask Bank, a standalone digital brand under Texas Capital Bancshares.

But it's not that green financing is finally winning out over fossil-fuel lending. Rather, Big Oil looks to be getting more money from elsewhere.

Kentucky State Treasurer Allison Ball published a list of 11 financial companies, including several major Wall Street banks, that she deems to be hostile to the fossil fuel industry.

JPMorgan Chase is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers.

The National Credit Union Administration must extend a program allowing credit unions to offer long-term loans for residential solar power installations.

The state's Department of Financial Services issued proposed guidelines on how banks and mortgage lenders should manage climate-related risks. But the guidance was quickly slammed by a trade group representing community banks.

On issues from guns and abortion to climate change to corporate diversity, banks that have been trying to satisfy progressive groups felt blowback this year from right-leaning organizations and Republican officials.