big banks

The mounting climate emergency may spur the next global financial crisis and the world’s central banks are woefully ill equipped to handle the consequences, according to a new book-length report by the Bank for International Settlements (BIS), as S&P Global reported. Located in Basel, Switzerland, the BIS is an umbrella organization for the world’s central […]

Shareholders of one of Europe’s biggest banks are pushing for it to stop investing in fossil fuels, in the first shareholder action of its kind targeting a European bank. Eleven of Barclays institutional investors representing £130 billion in assets have filed a resolution to be voted on at the bank’s annual general meeting in May. […]

Goldman Sachs, one of the world’s largest investment banks, gave a minor victory to the divestment movement by declaring that it will not fund an new arctic oil explorations, as CNN reported. Citing the importance of the Arctic’s fragile ecosystem and its importance to indigenous populations, the investing giant said it will decline investing in […]

By Leola Abraham Growing Resistance The banking industry should stop funding extreme fossil fuel pipeline projects that impact the climate and violate human rights. These projects are risky for banks as they face mounting pressure from a growing resistance movement and increased reputational risk in a world that is recognizing the urgent need to rapidly […]