ESG

In the House of Representatives, Rep. Patrick McHenry wants to push regulators and bank CEOs on their ESG investments, but the real action is happening at the state level.

Even though there has been some progress over the last eight years, men continue to hold many more board seats and jobs on executive teams than women, according to a recent report from DBRS Morningstar.

The Kentucky Bankers Association is seeking to halt Attorney General Daniel Cameron's investigation into climate commitments made by six large banks. The suit alleges that the AG overstepped his authority by seeking to compel the banks to turn over certain documents and communications.

Tools used by financial regulators to gauge the impact of climate change on the financial system are probably underestimating the potential damage because of incomplete data and inadequate scenario analyses, according to Financial Stability Board, a watchdog group.

The global climate coalition said in a new report that its members maintain "independent investment decision-making" authority after some U.S. banks grew concerned about legal exposure to rules requiring the phaseout of fossil-fuel investments.

Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.

For some bankers, net zero is like a new year's resolution — a pledge one makes and often breaks before a year has passed.