Daily Tearsheet: Climate change is forcing banks to rethink their strategies


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Daily Tearsheet: Climate change is forcing banks to rethink their strategies

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Green Finance Briefing: ‘Business as usual’ is proving unsustainable for banks

Banks and large financial institutions are generally viewed as businesses built under the traditional profit-centered capitalist model. But climate change is forcing everyone to rethink their strategy - business as usual is proving to be unsustainable. 

But what does it actually mean for a bank to be sustainable? How can a bank place climate change at the forefront of its agenda? These were the questions on the mind of Ken LaRoe, a banker who felt the need to “do something more than just making people a bunch of money”. 

LaRoe’s newfound mission lies with Climate First Bank, which aims to help reverse the climate crisis by aligning with four of the UN’s Sustainable Development Goals. But the journey remains challenging.

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Just look at the charts

1. How open banking works


2. Crypto prices two years ago


Today's stories

Coinbase bullish on NFT revenue
Coinbase could see an additional $1.26 billion in revenue through its NFT segment (CoinDesk)

Bessemer goes deeper into crypto
Bessemer Venture Partners is the latest VC firm to increase its crypto focus by launching a decentralized autonomous organization (CoinDesk)

On-demand pay is in demand
Payroll services firm DailyPay has secured a $300 million revolving credit facility from Barclays (Fintech Finance)

Ripple to give out 1 billion XRP in developer grants
Ripple is committing 1 billion XRP to accelerate development and new use cases on the XRP Ledger (Finextra)

Coinbase allows users to add funds directly to their wallet
Coinbase is introducing a new tool, called Coinbase Pay, which simplifies the process of loading cryptocurrencies into your wallet (The Verge)

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