Wall Street Targeted as Warren Leads Probe of Climate Rollback

Bloomberg.com · last updated May 19, 2025 – 9:17 AM

The biggest US banks are the targets of an investigation initiated by Democratic Senators Elizabeth Warren and Sheldon Whitehouse into Wall Street’s retreat from its climate pledges.

The probe seeks to examine the extent to which banks have allegedly caved in to pressure from Republicans and fossil-fuel interests to abandon their fiduciary duty to manage the financial risks that stem from climate change, according to drafts of the letters seen by Bloomberg.

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