A Mendeleev Prospect oil tanker. Photo: Alexander Ryumin/TASS via Getty Images

Goldman Sachs says it won't directly finance Arctic oil-and-gas exploration, new coal-fired power plants (unless they trap carbon), or new mines for coal used in electricity.

The big picture: Those are three big pieces of the banking giant's revised climate policies unveiled over the weekend.

  • The company, via a Financial Times op-ed, also said it's aiming for $750 billion in financing, investment and advisory work over the next 10 years focused on "climate transition and inclusive growth."

Why it matters: The fossil fuel-related policies expand on Goldman's prior stance in several ways, according to environmentalists who track the banking sector.

  • For instance, restrictions on new coal-fired plants previously did not apply to developing countries, which is where planned new coal plant construction is centered.

What they're saying: The Sierra Club and the Rainforest Action Network said the policy is the strongest among major U.S.-based banks

  • However, they said it lags behind some European banks and "remains far from alignment with what is needed to limit climate change to 1.5 degrees Celsius."
  • In analysis circulated to reporters, the groups pointed to various ways in which the policy still allows finance for oil and coal-related projects and companies.

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M&A activity falls despite early coronavirus fears

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In April, several prominent Democrats proposed a moratorium on large mergers and acquisitions. Their argument was that the pandemic would embolden the strong to pounce on the weak, thus reducing competition.

Fast forward: The moratorium never materialized. Nor did the M&A feeding frenzy.

More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.

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242 collegiate athletic programs have been cut amid the pandemic, altering the careers and lives of thousands of student-athletes.

Yes, but: Some passionate alumni groups have opted to fight, banding together in hopes of saving the programs they helped build and continue to love.