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Key Bank

Your money is funding the climate crisis.

KeyBank is an American regional bank headquartered in Cleveland, Ohio. The bank offers a range of banking products and services, including checking and savings accounts, credit cards, mortgages, loans, and online/mobile banking capabilities.

The bank is one of the leaders in renewable energy investments in the U.S. At the end of 2023, its financing to renewable energy projects was $5 billion, vs fossil fuel lending of $2.5 billion. It is ramping up its support for the clean power sector while winding down its support for conventional fuels.

However, its fossil fuel exclusion policy is weak - it only covers coal and only new lending. We'd like to see the bank extend its policy to cover all types of fossil fuels and exit existing lending at the earliest possible opportunity.

We would also like to see the bank measure the greenhouse gas impact of its lending, which would act as a catalyst for further action.

Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.

If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.

While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.

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Your bank may be ignoring the Paris Agreement.

The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.

Start to Bank Green Today

Banks live and die on their reputations. Mass movements of money to fossil-free competitors puts those reputations at grave risk. By moving your money to a sustainable financial institution, you will:

Send a message to your bank that it must defund fossil fuels

Join a fast-growing movement of consumers standing up for their future

Take a critical climate action with profound effects

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