Articles by Christine Dobby and Alastair Marsh

Four Canadian Banks Quit Climate Group as Exodus Begun by Wall Street Picks Up

Four of Canada’s biggest banks are leaving the industry’s top climate-finance alliance, joining Wall Street peers and extending an exodus that started in early December. Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Montreal and National Bank of Canada …

BlackRock Leaves Major Climate Group Amid Wall Street Exodus

BlackRock Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming. The money manager has decided to leave the Net Zero Asset Managers initiative it said …

Top Climate Group for Banks, Insurers, and Asset Managers Is Making Changes

The world’s biggest climate coalition for financial firms is making adjustments after several high-profile banks, insurers and asset managers opted out. The Glasgow Financial Alliance for Net Zero, which was established in 2021 and operates as an umbrella group for …

Wells Fargo Says It’s Quitting Climate-Banking Group

Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it ended its membership in …

Investors With $9.5 Trillion Seek Mandatory Scope 3 Emissions Disclosures

An influential coalition of pension funds and insurance companies holding a combined $9.5 trillion of assets called on regulators to mandate corporate disclosures of so-called Scope 3 emissions. The Net-Zero Asset Owner Alliance said in a report published on Wednesday …

A $9.5 Trillion Investor Group Unveils Milestone Emissions Cuts

Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C. The Net-Zero Asset Owner Alliance, whose signatories …

Net Zero’s Carbon Removal Conundrum

To achieve net-zero emissions, where emissions and removals of greenhouse gas pollution balance each other out, governments and corporations must do two things: cut emissions as much as possible and remove any residual pollution from the atmosphere. To gauge the …

Wall Street Pushes Back After Activists Escalate Protests

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate. For more than a month now, scores of activists have mounted near-daily protests …

Bird Flu Found in Michigan, Idaho Cows as Virus Spreads in US

Highly pathogenic avian influenza has been discovered in dairy herds in Michigan and Idaho, indicating the virus is spreading into new US states. The National Veterinary Services Laboratories has confirmed the presence of bird flu in a Michigan herd that …

Net-Zero Investor Group Reports Financing Activities Lead to Emissions Decline

A $9.5 trillion investor group that includes Allianz SE, Legal & General Plc and the California Public Employees’ Retirement System reported a modest decline in greenhouse gas emissions enabled by its members’ lending and investment activities, the first time it …