JPMorgan, Bank of America, Wells Fargo and Goldman Sachs join climate initiative

Four major U.S. banks partnered with a clean energy nonprofit for an initiative that would put the financial industry on track to lower carbon emissions to net-zero by 2050.

London Stock Exchange parent names new CFO

The parent company of the London Stock Exchange said Thursday that it has selected Anna Manz, an executive at specialty chemicals company Johnson Matthey, as its next chief financial officer, with a starting date of Nov. 21.

China’s ‘blue ocean’ rural premium market will grow to ¥1 trillion by 2025: Swiss Re

The Chinese government’s increased investments in the country’s poor and agricultural regions will accelerate rural residents’ annual spending on insurance premiums to 1 trillion yuan ($141 billion), global insurer Swiss Re said on Thursday.

Wells Fargo signs solar energy deal with Shell as part of climate pledge

Wells Fargo said Wednesday that it plans to buy 150,000 megawatt-hours of solar energy annually from Shell Energy as the U.S. bank makes progress toward self-imposed renewable energy goals.

Travelers expands renewable energy coverage as it boosts sustainable practices

Travelers increased its business in the renewable energy sector by 30 percent over the past year as the insurer sought to ramp up its sustainability initiatives.

Santander inks $225M deal with chemical company Purolite

Santander’s American subsidiary served as joint lead arranger for $225 million in loans to American chemical company Purolite, the bank revealed Tuesday, as the lender positions itself to go after more mid-market financing deals.

Energy-services financier Vantage alleges ‘extortion’ by Macquarie, seeks $120M

Vantage Commodities Financial Services has accused the world’s largest infrastructure asset manager, Macquarie Group, of extorting and sabotaging its business, putting the energy services financing firm in jeopardy and costing it more than $120 million.

Student loan servicer Nelnet expands into community solar project support

Broadening its investments in renewable energy, leading student loan servicer Nelnet launched a new business line that supports community solar projects with operational and technical services.

Goldman Sachs to merge MLP funds during ‘extremely difficult’ energy market

Two energy-focused Goldman Sachs funds will likely become one after the U.S.-based investment bank revealed a plan for reorganizing the entities as the energy sector struggles with reduced demand and prices amid the coronavirus pandemic.

CFTC extends pause on record-keeping enforcement as pandemic continues

U.S. commodities traders will continue to have a reprieve from certain record-keeping rules through the end of September, as regulators extended a temporary halt on enforcement in light of continued operational disruption from the COVID-19 pandemic.

CFTC closes loophole allowing ‘bad actors’ to be commodity pool operators

People who have committed a serious financial crime will no longer be able to claim an exemption to trade as a commodity pool operator under a rule change issued Thursday by the Commodity Futures Trading Commission.

Tokio Marine HCC completes acquisition of GCube

Tokio Marine HCC completed its acquisition of GCube, expanding the carrier’s footprint in the renewable energy insurance market and capping a recent streak of acquisitions.

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