Are big banks following through on their climate pledges?

Big banks across the financial sector — including giants like JPMorgan Chase, Citigroup, and Bank of America — have made green pledges to reduce their contributions to climate change. But as a pair of new reports point out, the firms’ progress toward those goals has been slow even amid a period of high profitability. We look at why that’s been the case. Plus, the embattled First Republic Bank, one of the mid-sized financial institutions caught in the backblast of the collapse of Silicon Valley Bank, is in fresh trouble after its stock tanked this week. And, oil tankers are becoming more and more expensive for companies to hire because of Russia’s war in Ukraine.