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The latest briefing
Green Finance Briefing: US banks continue fossil fuel financing
This past week, shareholders at some of the US’ biggest banks voted on climate resolutions that proposed to stop investments in new fossil fuel projects by the end of the year.
The result wasn’t as green as net-zero enthusiasts had hoped – none of the proposals passed the shareholder votes at Bank of America, Citigroup, or Wells Fargo, but the initiatives hope to gain more ground next year.
The banks’ management fought these resolutions, urging shareholders to vote against them in public proxy statements. Citi even requested the SEC to exclude the proposals, arguing that they sought to “micromanage the company” – the SEC declined to do so.
Just look at the charts
- Digital-first banking taxonomy
2. Green finance initiatives this year
Source: Sanjeev Kumar
Cogni is hopping on the crypto bandwagon
Consumer fintech Cogni aims to capture young banking customers with its pivot to crypto and Web3 products (TechCrunch)
Goldman Sachs steps into crypto lending
Goldman Sachs has offered its first bitcoin-backed loan in the latest sign that Wall Street is moving further into crypto (CoinDesk)
Square Loans launches in Canada
Square announced the launch of Square Loans in Canada, giving small businesses quick access to funds and eliminating a major pain point associated with running a business (Finextra)
FaZe Clan and Current join forces
Digital bank Current will give FaZe Clan members “new tools and resources to creatively engage their fans using Current’s mobile banking products” (Tubefilter)
Customized rewards programs with Kard
Kard’s rewards-as-a-service API allows card issuers to create a customized rewards program tailored to their customer base by choosing from Kard’s set of merchant partnerships (TechCrunch)
US Bank introduces Spanish-speaking virtual assistant
US Bank is the first financial institution in the country to launch a Spanish version of its Smart Assistant in the US Bank mobile app (Finextra)
Revolut CEO eyes expansion into mortgages, crypto wallets
Digital banking platform Revolut is working on expanding into crypto wallets and is also looking at the mortgage sector, pushing ahead with its strategy to become a “super app” (Reuters)
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