This archive covers progress in finance — from expanded access to credit and banking for underserved communities to policy shifts that redirect capital toward public good. Stories here document real changes in how money moves, who controls it, and what it builds.
The U.K.’s biggest pension fund, the government-backed National Employment Savings Trust (Nest) scheme with nine million members, is to begin divesting from fossil fuels in what climate campaigners have hailed as a landmark move for the industry.
In addition to this announcement, the investment bank has achieved its sustainable investment goal three years early, increasing its core sustainable investments by more than 56% to USD $488 billion.
JPMorgan Chase and Wells Fargo will no longer fund oil and gas drilling in the Arctic, including the Arctic National Wildlife Refuge. The announcements come on the heels of similar commitments made by Goldman Sachs and BlackRock.
TCI Fund Management – with $30 billion in assets – is pushing portfolio companies to dramatically reduce greenhouse gas emissions and disclose their carbon footprint. If they don’t, they’ll oust their boards or dump their shares.
The multinational investment bank has updated their energy policy for the first time since 2015, stating that they will end financing for new drilling or exploration in the Arctic.
The bank will end its financing of oil, gas, and coal projects after 2021, a policy that will make the EU’s lending arm the first multilateral lender to rule out financing for projects that contribute to the climate crisis.
Eight major banks have announced their commitment to ending their support of the immigration detention center and private prison industry.
Global investment in new capacity for renewable energy is on course to reach $2.6 trillion by the end of this decade, more than triple the amount of the previous decade, the UN says.
This decision was announced in the wake of a petition directed at PNC circulating from the Families Belong Together coalition of over 250 activist groups, representing over 11 million people.
Barclays Plc will stop providing future financing to companies that manage private prisons and immigration holding facilities, joining other major lenders in shunning the industry.
