Trump Administration's OCC Pushes Through Final Gift to Oil and Gas Industry

The Office of the Comptroller of the Currency (OCC) has finalized the Fair Access to Financial Services rule a day after current OCC head Brian Brooks announced his resignation. As global banks increasingly tighten credit to clients that pose significant climate risk, including coal projects and Arctic oil and gas projects, the OCC rule establishes new hurdles to banks exercising risk management.

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Utilities Continued Investment in Natural Gas Infrastructure Sparks Investor Concern

Shareholder representative As You Sow filed shareholder proposals at four of the largest U.S. gas and electric utilities, Dominion Energy, DTE Energy, Duke Energy, and Southern Company, raising concerns about the companies’ continued investments in natural gas. Shareholders are concerned that these utilities are claiming “Paris-alignment” while remaining on a path toward stranded asset risk.

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Investors Press 5 Major U.S. Banks to Act on Climate

Shareholder advocate As You Sow — joined by several investors including Mercy Investment Services, Arjuna Capital, Boston Trust Walden, Presbyterian Church USA, and Boston Common Asset Management, among others — recently filed climate-focused resolutions with a large segment of the U.S. banking industry, including JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, and Citigroup.

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