S 9758 New York Senate · 2023 Regular Session

Establishes the "climate safe & responsible bank procurement act"

This bill creates the Climate Safe and Responsible Bank Procurement Act to guide how New York state agencies select banks for services like credit card processing and bond underwriting. It directly affects large banks with at least $100 billion in assets by requiring them to meet specific climate-related criteria to be considered for state contracts. Key provisions mandate that these banks disclose their greenhouse gas emissions, report their financing ratios for clean versus fossil fuel energy, and adopt policies that exclude support for new coal and fossil fuel projects. Additionally, the bill sets a deadline of 2026 for banks to disclose their emissions before the state can contract with them for bond underwriting.
Bill status in committee 1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
Governor
Introduced May 29, 2024 Last action May 29, 2024
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May 29, 2024
Senate · Referred to committee
REFERRED TO FINANCE
1 primary · 0 co-sponsors

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Role
Legislator
Party
State
District
P
Photo of James Sanders
James Sanders
DDemocratic
NY
10