Are big banks following through on their climate pledges?
Apr 27, 2023

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. 

Segments From this episode

First Republic Bank in hot water after its stock plunges

Marketplace’s Nova Safo reports on the latest developments at the embattled bank that’s been caught in the Silicon Valley Bank fallout.

Big banks are succeeding at turning a profit, struggling to meet climate commitments

Apr 27, 2023
Two recent studies show the biggest banks are still not doing enough to meet the goals of the Paris Climate agreement.
If banks over-invest in fossil fuels, "They're going to suffer consequences in terms of profitability later on," said UC Santa Cruz professor Galina Hale.
Frederic J. Brown/AFP via Getty Images

The team

Leanna Byrne Host, BBC
Kelly Silvera Executive Producer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer
Jarrett Dang Digital Producer (gone fishing)
Jesson Duller Media Producer
Nick Esposito Media Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Olie D'Albertanson Producer, BBC