Goldman Sachs said that it would no longer finance coal projects, or oil and gas exploration in the Arctic. In a new environmental policy framework , the investment bank acknowledged the urgency of climate change and noted that not acting would be “costly for our natural environment, humans and to the economy.” It appears to be the first time one of the largest U.S. banks has cut off financing for entire swathes of the fossil fuel sector. “Goldman Sachs’s updated policy shows that US banks can draw red lines on oil and gas, and now other major US banks, especially JPMorgan Chase – the world’s worst banker of fossil fuels by a wide margin – must improve on what Goldman has done,” Jason Opeña Disterhoft of Rainforest Action Network said in a statement . Goldman Sachs also said that it would make $750 billion in financing available for “climate […]