Which banks are financing the clean energy transition?

Corporate Knights

The real question is, are the world’s banks ready to fund the development of renewable technologies at scale, and updating all the infrastructure in between? And which banks will take the lead? . 3 Amalgamated Bank USA 19.46% 39.5 8 DBS Bank Ltd.

Advocates urge regulation of banks’ climate commitments to avoid greenwashing

Corporate Knights

A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. . Oil and gas companies represent less than 5% of outstanding loans by Canadian banks.

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Five ways to give central banking a makeover

Corporate Knights

To most people, central banking is a mystery. The key is to know that, while a bank creates money as a loan that needs to be repaid, a central bank creates it as a gift to the economy at a time of crisis that does not need to be repaid.

Mark Carney’s net-zero banking alliance backtracks on compulsory climate targets

Corporate Knights

Just a year ago, Mark Carney inspired optimism among climate finance campaigners by founding a new alliance of banks and other financial institutions that pledged to decarbonize their portfolios. Banks and investors cannot wish away the terrifying math of the global 1.5°C

Open Banking and Ecosystems

Cisco CSR

Open banking made this possible. Open banking allows third-party financial services companies to access consumer banking, transaction, and other financial data via the secure use of APIs. It wasn’t just that Venmo happened but open banking for the digital ecosystem.

Is the Competition Bureau's probe into RBC's climate claims a warning to other banks?

Corporate Knights

The federal Competition Bureau’s decision to investigate charges of misleading advertising against the Royal Bank of Canada is a sign that federal regulators are paying closer attention to the climate crisis and its causes, says the environmental law charity that filed the case.

‘Any delay means risk’: Senator looks to speed up banks’ net-zero journey

Corporate Knights

In the pursuit of its net-zero 2050 goal, Canada needs a rigorous strategy to require banks and other key financial system players, including Crown corporations, to fully align their operations with the country’s international climate commitments. Climate Crisis banks net zero

Banks missing two key steps in making ‘just transition’ part of net-zero plans

Corporate Knights

In early April, Wet’suwet’en hereditary Chiefs and environmentalists looked to attend the Royal Bank of Canada’s annual general meeting, hoping to speak with the bank’s CEO, David McKay. Another member of the Net-Zero Banking Alliance, U.K.-based

Canada Infrastructure Bank - Canada Infrastructure Bank, CIBC and Markham District Energy close $270 million district energy infrastructure investmentReliable, cost-efficient technology to help Canada meet climate change targets

Global Renewable News

The Canada Infrastructure Bank (CIB), Markham. Geothermal

Banks Renewables - Banks Renewables seeks Armistead wind farm lifetime extension

Global Renewable News

Renewable energy firm Banks Renewables has.

A digital approach to SME banking

McKinsey Public & Social Sector Insights

Small and medium-size enterprises are a clear growth opportunity for banks in a difficult environment. A digital-first approach with a personal touch can help banks crack the code of this historically overlooked segment. Insights on Financial Services Banking

Forbright Bank - Forbright Bank Provides Financing to Two Solar Parks in Puerto RicoForbright's lead financing helps support the goal of transitioning 40% of the island's energy to renewable sources by 2025

Global Renewable News

Forbright Bank, a nationwide full-service bank. Solar

European Investment Bank - Austria: EIB and UniCredit Bank Austria enable companies to invest in renewable energy and energy efficiency

Global Renewable News

Highlights The EU bank is. Climate Change

British International Investment - NMB Bank Secures $25 million clean energy funding from British International Investment

Global Renewable News

NMB Bank, one of the premier banks in. Climate Change

Central bank digital currencies: An active role for commercial banks

McKinsey Public & Social Sector Insights

With central banks increasingly exploring central bank digital currencies (CBDCs), now is the time for commercial banks to establish their role in a fast-changing landscape.

Canada Infrastructure Bank - CIB Launches $500 Million Charging and Hydrogen Refuelling Infrastructure Initiative

Global Renewable News

The Canada Infrastructure Bank (CIB) has. Economy

ECB Gives Banks Deadlines to Manage Climate and Environmental Risks

ESG Today

Banks have been given until the end of 2024 to meet the European Central Bank’s (ECB) full supervisory expectations on climate and environmental risks, with interim deadlines. The post ECB Gives Banks Deadlines to Manage Climate and Environmental Risks appeared first on ESG Today.

European Investment Bank - Austria: EIB supports extension of Pretul wind farm

Global Renewable News

Highlights The EU bank is lending.

Strategic M&A in US banking: Creating value in uncertain times

McKinsey Public & Social Sector Insights

Four actions can help banks maximize the value of their M&A. Insights on Financial Services Financial Services Banking Mergers & acquisitionsUncertain times can spell opportunity for companies seeking acquisitions—if companies proceed with care.

European Investment Bank - EIB investing €475 million for wind energy in DenmarkEIB, the EU bank, is financing winds of change in energy transition towards renewable sources

Global Renewable News

Highlights The European Investment Bank.

McKinsey, Moody’s Launch Climate Solutions Suite for Banks

ESG Today

According to McKinsey, the collaboration comes to help banks navigate issues related to the large-scale capital reallocation needed to decarbonize the global economy, including more than $9 trillion in annual average spending on physical assets through 2050 estimated by the firm’s research.

Duke Energy - Fifth Third Bank Makes BLINK Attractions Carbon Neutral with Help from Duke Energy

Global Renewable News

Fifth Third Bank, National Association, a. Climate Change

Insights from green banking: What keeps customers from switching banks?

GreenBiz

Insights from green banking: What keeps customers from switching banks? ESG may be all the rage, but what about retail banking? The deposits you make at your retail bank for personal and business accounts sustain the bank’s ability to make loans and investments.

Central banks 'right to support pricing of climate impacts', says Bank of Japan

Environmental Finance

Central banks should support financial institutions in accounting for the "negative externalities" of greenhouse gas emissions, including by providing finance to encourage the transition, according to the deputy governor of the Bank of Japan

ECB Climate Stress Tests Find Bank Practices Lacking

Chris Hall

60% of banks don’t have a climate risk stress testing framework; only 20% consider climate risk when granting loans. Banks fall short. Banks also often rely on proxies to estimate their exposure to emission-intensive sectors.

Extending upmarket in US commercial banking

McKinsey Public & Social Sector Insights

Serving larger commercial clients is a significant growth opportunity for US midcap and regional banks—with the right strategy in place. Insights on Financial Services Banking North and Central America

Best of both worlds: Balancing digital and physical channels in retail banking

McKinsey

Banking distribution needs to account for the evolving interdependencies between channels. Insights on Financial Services Retail banking DigitalAccelerating digital and upgrading the physical experience to “phygital” offers a viable solution.

GreenFin 22: GreenBiz Studio feat. Alex Liftman (Bank of America)

GreenBiz

This video is sponsored by Bank of America. Alex Liftman discusses how climate disclosure has evolved and how Bank of America integrates ESG into their corporate strategy

Concerns Raised as Banks Map Own Path to Net Zero  

Chris Hall

The NZBA said the letter, which comes amid rising political pressures on US banks, was only a “statement of fact” which reiterates existing governance and decision-making structures. The letter also confirmed the alliance’s commitment to the banking sector “playing its part to achieve the 1.5°C

Heroes and Zeros: Asian Development Bank vs. Croatia Airlines

Corporate Knights

Hero: Asian Development Bank. That commitment sends a powerful signal to banks that coal has become a risky investment. The Asian Development Bank (ADB) has launched a plan to speed up the closure of coal-fired power plants in the region, starting with Indonesia and the Philippines.

Regional Food Bank Receives $50,000 Grant from KeyBank Foundation

3BL Media

DESCRIPTION: The Regional Food Bank of Northeastern New York was awarded a $50,000 grant from the KeyBank Foundation to support children through its BackPack Program. KEYWORDS: NYSE: KEY, keybank, keybank foundation, Regional Food Bank of Northeastern New York, The BackPack Program.

Banks Renewables - Wind farm Community Partnership awards over £250,000 in community grants over first three yearsKype Muir community fund pledges to support larger ambitious projects

Global Renewable News

A community fund established by Banks.

This Week’s Tech and Tools News: MSCI Offers ESG Reporting Solution for Banks

Chris Hall

Data, analytics and research services provider MSCI has developed a new solution to support banks looking to align with the European Banking Authority’s (EBA) ESG Pillar 3 prudential framework for measuring and reporting on ESG and climate-related risks.

Banks Renewables - Wind farm Community Partnership awards over £250,000 in community grants over first three yearsKype Muir community fund pledges to support larger ambitious projects

Global Renewable News

A community fund established by Banks.

Principal® Joins First Women's Bank As Mission Partner

3BL Media

DESCRIPTION: DES MOINES, Iowa, December 2, 2022 /3BL Media/ -- Principal Financial Group ® is proud to announce its support for First Women’s Bank (FWB) as a Mission Partner, providing capital to fuel growth for women-owned businesses. About First Women’s Bank.

AllianceBernstein Partners With Second Harvest Food Bank

3BL Media

DESCRIPTION: This past month, AB’s senior leaders gathered in Nashville for an annual offsite meeting, and spent a day partnering with Second Harvest Food Bank to pack +2,200 weekend meals for Middle Tennessee children in need. KEYWORDS: NYSE:AB, AllianceBernstein, Second Harvest Food Bank.

Fifth Third Bank Makes BLINK Festival Carbon Neutral in Cincinnati

3BL Media

DESCRIPTION: Joining with Cincinnati Mayor Aftab Pureval and representatives from Duke Energy, the Cincinnati USA Regional Chamber and BLINK, Fifth Third Bank announced on Sept. The Bank has been an active participant in BLINK since 2019. SOURCE: Fifth Third Bancorp.

African Development Bank - African Development Bank, MASEN and RES4africa to join forces on a Sahel-focused training programme in 2022 within the framework of the Desert to Power Initiative

Global Renewable News

The African Development Bank, MASEN and. Solar

Fossil fuel expansion will be the litmus test for banks’ net-zero promises

Corporate Knights

Many of the world’s biggest banks face the enormous challenge of realigning their entire loans and investment operations in the coming years to put themselves on a credible path to achieve net-zero carbon emissions by 2050. “We Royal Bank of Canada and Toronto-Dominion Bank.

Fed to Launch Climate Risk Resilience Tests with Big Banks

ESG Today

The banks participating in the climate risk exercise include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The post Fed to Launch Climate Risk Resilience Tests with Big Banks appeared first on ESG Today. The U.S.

American Banker Names U.S. Bank Leaders to 2022 Most Powerful Women in Banking

3BL Media

Bank a Top Team honor. Bank leaders in its 2022 Most Powerful Women in Banking, naming vice chairs Gunjan Kedia and Kate Quinn and senior vice president Vanessa Angeles among 75 individual honorees. Bank National Association.

UOB to join Net Zero Banking Alliance

Environmental Finance

United Overseas Bank (UOB) has applied to join the Net Zero Banking Alliance (NZBA) - at a time when several large US banks are reportedly considering walking out on the initiative

Australian regulator reveals prospect of bank losses from climate change

Environmental Finance

Australia's largest banks should be prepared to face 'financial challenges' resulting from losses caused by the effects of climate change, a vulnerability assessment by the regulator has found