Archive

Vanguard sets 'laughable' net-zero pledge

$8 trillion asset manager Vanguard has emphasised its "extreme laggard" status through its initial 'net-zero' pledge, according to campaigners.

Minority of US bank investors support climate proposals

BlackRock's Fink lauds decarbonisation 'phoenixes' over divestment

BlackRock chief executive Larry Fink rejected sectoral divestment as a means to deliver a net-zero transition in his annual letter to fellow bosses...

US financial regulators acknowledge climate action needed amid 'increasing threat'

US regulators have identified climate change as an "emerging and increasing threat" to US financial stability for the first time

Carney criticised for 'greenwashing' net-zero financial firm alliance

Former Bank of England governor Mark Carney has been criticised by more than 90 non-governmental organisations that the Glasgow Financial Alliance for Net Zero (GFANZ) that he chairs provides a means for banks to 'greenwash' their activities.

$8trn investors back IIGCC 'Net Zero Investment Framework' launch

US regulator banking rule seeks to 'prop up' fossil fuel financing

The US Office of the Comptroller of the Currency (OCC) has been accused of staging a "last ditch" attempt to prop up financing for fossil fuel through its "fair access" rule for banks, amid a rising tide of lenders announcing plans to phase-out such funding.

BlackRock promises 2021 climate vote record improvement

BlackRock has announced it intends to vote more regularly for shareholder proposals on climate action, rather than relying on engagement as it had done in the past.

TD Bank makes net zero by 2050 pledge

Toronto Dominion (TD) Bank has become the latest bank to commit to achieve net-zero greenhouse gas (GHG) emissions associated with its operations and financing activities by 2050 - but the announcement was criticised for failing to set an interim target.

Boston Common: Differing methodologies for bank sustainable financing 'unnecessary competition'

Boston Common Asset Management (BCAM) has criticised the increasing number of methodologies used to assess how a bank's sustainable financing commitments impact its portfolio, as a distraction from core climate goals.