Investments

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.

Former Bank of England Gov. Mark Carney has dismissed reports that Wall Street banks threatened to walk out of the climate-finance coalition he heads, but also said that "tension" within the group needed to be addressed.

Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.

Deutsche Bank has given its clearest indication yet of how it plans to deliver on the commitment it made last year to reach net-zero financed emissions by 2050.

War and the increase in anti-ESG sentiment in the U.S. are part of a new and "complex" set of hurdles making it much harder for Wall Street to meet the climate promises it's made, according to the chair of the Net-Zero Banking Alliance.

HSBC Holdings has been reprimanded by a U.K. watchdog for violating environmental advertising rules, after it sought to depict itself as a green bank in a set of posters.

The crypto lender Voyager Digital is pursuing settlements with two top executives after an internal probe uncovered potential claims of gross negligence stemming from risky loans made to the defunct hedge fund Three Arrows Capital, court papers show.

The world's biggest climate coalition for bankers says it has the right to ignore a proposal that would require members to phase out the financing of fossil fuels.

The custody bank recorded a 59% drop in net income as a result of the goodwill impairment charge. New CEO Robin Vince sought to assure analysts that the one-time item does not reflect either a change in strategy or the well-being of the company's investment management business, which took the hit.

One of the original green challenger banks has elevated its chief sustainability officer into the role.

For some bankers, net zero is like a new year's resolution — a pledge one makes and often breaks before a year has passed.

The Rhode Island bank has launched a program that allows companies to use interest earned on their deposits to purchase credits. It's a way for companies to address climate change without reducing their own hard-to-abate emissions.

The biggest climate event of the calendar looks set to draw far fewer chief executives than it did just a year ago.

Women focused on environmental, social and governance issues are seeing career opportunities open as sustainable finance initiatives become more critical to a bank's success.

The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.

Using a local beach as a canvas for its billboard — which vanishes as the tide comes in — the bank is drawing attention to how customers' financial choices can affect the environment.