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Illustration: Aïda Amer/Axios

Banking giant Citigroup said that last year it declined 11 "transaction opportunities" around coal mining or coal-fired power as a result of recently launched climate policies.

Why it matters: The tally, part of a wider ESG report released Monday, provides a rare glimpse at specific business fallout of Wall Street giants' growing restrictions on certain types of fossil finance.

Of note: Bloomberg has more on the report here.

Catch up fast: A number of banking giants like JPMorgan Chase and Citi are boosting finance for clean technology sectors in addition to their fossil restrictions.

  • Citi's report comes on the heels of its pledge this month to steer $1 trillion toward "sustainable finance" by 2030, with half for various "climate solutions."

What they're saying: One climate activist who tracks banking tells me that the level of detail in Citi's report on its coal financing rejections is uncommon.

  • "This sort of specificity and transparency is rare and refreshing," Beau O'Sullivan of the Bank on our Future network tells me via email.
  • We're used to banks boasting about the green business they're financing, but that's exactly what banks do — finance profitable and growing sectors. Real climate leadership in the banking sector means turning down business," he said.

But, but, but: Activists are pushing banks to phase out fossil-related lending more broadly, including the oil-and-gas sector.

  • "We need to see Citi, the world's second biggest financier of fossil fuels, ending relationships on a corporate level with companies that are expanding fossil fuel business," O'Sullivan said.

Go deeper: Climate spotlight moves to Wall Street and its overseers

Go deeper

Ben Geman, author of Generate
Aug 5, 2021 - Energy & Environment

Exxon reportedly weighs 2050 net-zero carbon pledge

Photo: David Paul Morris/Bloomberg via Getty Images

The Wall Street Journal reports this morning that Exxon is "considering a pledge to reduce its net carbon emissions to zero by 2050."

Why it matters: It would be a major shift for Exxon, the U.S.-based multinational giant, which to date has opposed the long-term targets embraced by European giants like Shell and BP.

Updated 6 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.