Exodus by Wall Street banks from climate group worries advocates

Contributing sentiments towards policy:

57% : "This is concerning when they are among the world's largest providers of financing to fossil fuels," she said.
55% : Such pressure stepped up after a Republican clean sweep in November's U.S. elections heralded the return of Donald Trump as president, with investors including BlackRock (BLK.N), opens new tab recently facing legal challenges over their climate efforts.
54% : Banks that have pulled out may now reduce their commitments to climate-friendly policies, said Patrick McCully, senior analyst for energy transition at Reclaim Finance.
53% : U.S. lenders have been rushing in recent weeks to leave one of the world's top banking sector climate coalitions, drawing scorn from campaigners who worry the industry is losing resolve to take action on fossil fuels.
52% : Analysis, opens new tab of December syndication fee income from loan and bond issuance by financial think tank the Anthropocene Fixed Income Institute showed each of the U.S. leavers earned more from fossil fuel than green energy.
47% : A study entitled 'Banking on Climate Chaos, opens new tab' from 2024 suggested the six biggest U.S. banks were all among the top-20 global lenders to fossil fuel companies.
47% : Despite the exits, the largest U.S. banks had all made "strong climate commitments" through the NZBA and investors would continue to push for more information about their efforts, said Mindy Lubber, chief executive of non-profit Ceres.
43% : The exodus ended unhappy marriages for most after Republican politicians warned that membership in the group, particularly if it led to reduced financing for fossil fuel companies, could breach antitrust rules.

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