US: Regulator moves to stop banks blacklisting sectors as investors push S&P 500 on physical climate risk

New York State and Impax want asset location data, while OCC swoops in to ban sector-wide exclusions

The US Treasury’s Office of the Comptroller of the Currency (OCC) has drafted a rule to prevent banks from sector-wide lending bans, such as those being increasingly introduced for oil & gas, weapons and private prisons. The new rule would allow the federal agency to “take superv…

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