Banking - CSO Futures

🌙 ☀️

Sign in Join

Goldman Sachs leaves NZBA ahead of capital market emissions requirements

Goldman Sachs leaves NZBA ahead of capital market emissions requirements

Earlier this year, Goldman Sachs AM also left Climate Action 100+ ahead of more stringent guidelines around oil and gas financing.

10 December 2024

HSBC, Morgan Stanley: Are banks lowering their climate ambition?

CSO Futures Weekly

HSBC, Morgan Stanley: Are banks lowering their climate ambition?

Two banks seem to move sustainability down their priorities list and one sustainability head shares what keeps her awake at night.

31 October 2024

HSBC CSO demoted from executive committee amid cost-cutting reshuffle

People & Culture

HSBC CSO demoted from executive committee amid cost-cutting reshuffle

In February, the bank was advised by its board to refocus its sustainability strategy on execution.

31 October 2024

Morgan Stanley lowers climate ambition in new round of 2030 targets

Climate Targets

Morgan Stanley lowers climate ambition in new round of 2030 targets

"The world is not on track to meet a 1.5°C scenario."

28 October 2024

Morgan Stanley to buy 40,000 tonnes of direct air capture removals

Carbon removals

Morgan Stanley to buy 40,000 tonnes of direct air capture removals

The bank recently created a new fund to support the removal of one gigatonne of emissions by 2050.

24 October 2024

Banks remain too open to coal and fossil fuel financing: TPI report

Sustainable Finance

Banks remain too open to coal and fossil fuel financing: TPI report

Banks’ climate targets are estimated to cover less than 22% of their total revenues.

09 October 2024

Most NZBA member banks have now set climate targets

Sustainable Finance

Most NZBA member banks have now set climate targets

Most of the banks that have not met their target-setting requirements are in emerging markets.

03 October 2024

Morgan Stanley drops 2030 pledge to cut plastic pollution

Plastic Pollution

Morgan Stanley drops 2030 pledge to cut plastic pollution

The bank removed all mentions of its Plastic Waste Resolution from its latest ESG report.

06 September 2024

Wells Fargo begins developing transition finance framework

Transition Finance

Wells Fargo begins developing transition finance framework

Banks could generate US$44 billion of extra revenue annually through 2030 by financing the climate transition.

03 September 2024

SBTi updates financial institution guidance with optional fossil fuel target criteria

Policy & Standards

SBTi updates financial institution guidance with optional fossil fuel target criteria

The new document also clarifies that the exclusion of non-material activities from FI targets “may not exempt any activities related to fossil fuels”.

30 May 2024