First Republic Is First Large US Bank to Stop Fossil Fuel Lending

On November 29th, First Republic Bank became the first large US bank to announce a commitment to ending all lending to fossil fuel companies, the only one of the US’ 25 largest banks to do so. This commitment marks a watershed moment for large banks’ climate action and establishes the important precedent that fossil fuels can and must be phased out of banks’ lending – and all – financing activities.