-- Texas Attorney General Ken Paxton dropped his threat to cut off big US banks from municipal-bond deals after a slew of Wall Street firms exited a controversial climate-finance alliance. Paxton’s office said late Tuesday that its reviews of Wells Fargo, Bank of America, Morgan Stanley, and JPMorgan will be closed. In a statement, Paxton’s office said the alliance pushes …
The financial sector appears to be getting cold feet about efforts to curb the effects of climate change. The first bank to do so was Goldman Sachs, which exactly one month ago announced it was leaving the NZBA because their institution had supposedly “made significant progress in recent years on the firm's net zero goals and we look forward to …
U.S. megabanks want to leave behind some green finance pledges in 2024. Morgan Stanley, Citigroup and Bank of America this week withdrew from an ambitious pandemic-era climate coalition designed to help drive a shift to reduce carbon emissions by businesses. Members of the coalition, launched in 2021, vowed to align “lending, investment and capital markets activities with net-zero greenhouse gas …
