The Bank of France, which manages 22 billion euros, will no longer invest in companies that generate more than 2 percent of their revenues from coal by the end of 2021 and will drop this threshold to zero percent by 2024.
The world’s biggest insurance market will stop new insurance for coal, oil sands and Arctic energy projects by 2022 and pull out of the business altogether by 2030.
The diversity requirements would mandate that each of the Nasdaq’s 3,249 companies have at least one female director and at least one director who identifies as an underrepresented minority or LGBTQ+.
After ongoing pressure from environmental groups and Indigenous communities, Bank of America has said it will not finance any oil and gas exploration in the Arctic, making it the last major U.S. financial institution to do so.
The first Finance in Common Summit gathered the world’s 450 public development banks to address recovery from the COVID-19 pandemic in line with the principles of sustainable finance. In a joint declaration the Banks pledge to align financing decisions with the Paris Agreement on climate change.
Thirty of the world’s largest investors – including Allianz, the Church of England, and the California Public Employees’ Retirement System – have now set a goal to reduce emissions by 16 to 29% of 2019 levels by 2025.
JPMorgan Chase has reportedly committed to push its clients to align with the goals of the Paris Agreement and work towards global net-zero emissions by 2050.
Top asset managers Vanguard Group Inc and BlackRock Inc on Thursday introduced new exchange-traded funds that exclude oil companies, coal producers and other industries that a growing number of investors want to avoid.
Ventures Platform, an Abuja, Nigeria-based early-stage fund, is creating a relief program to provide emergency grants to keep innovation alive amongst African startups. The equity-free grants can be up to $20,000 and will be available to early, high-growth stage startups in need of cash lifelines.
The first Black-owned bank to reach $1 billion in assets has been created, due to the merger of City First Bank of D.C. in Washington and Los Angeles-based Broadway Federal Bank. The newly created lender will focus on housing, small businesses, and nonprofits.