Major US and Canadian banks are being asked by shareholders and climate action groups to take action on global net zero targets by reducing their lending to the fossil fuel industry, and to set and publish interim emissions reduction targets for 2030.
Six Wall Street banks are being pressed by a group of shareholders to move faster on reducing their financing of fossil fuels to meet global climate goals.
JPMorgan Chase (NYSE:JPM) has set 2030 targets for emissions of aviation, cement and steel companies in its portfolio of investments.
Canadian tech startup MineSense has raised $42 million in a series E funding round. It highlights investor confidence in the company’s role in enabling the energy transition by improving efficiency, profitability and sustainability of mining operations.
JPMorgan Chase (NYSE:JPM) has committed $3 million to five companies, each developing climate resilient, affordable housing for minorities in the US, particularly Black, Hispanic and Latino communities.
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo will be asked to explore different climate scenario impacts on parts of their businesses.
J.P. Morgan’s ESG Discovery digital platform is a response to client demand for clarity on the ESG risks relevant to their investments. The addition of a double materiality framework, which adds to the impact of a business on society, appears to be a departure for a financial services firm.
Veolia Environnement agreed to sell Suez’s waste activities in Britain to Macquarie Group for 2.4 billion euros (£2.01 billion) after the country’s antitrust authority raised competition concerns.