Banks Face Push to Disclose How Their Lending Leads to Pollution

Banks should have to make public how their lending and investment activities impact pollution, according to a group of Democratic senators.

The disclosures should be part of sweeping new rules proposed by the US Securities and Exchange Commission that would require companies to reveal detailed data about their greenhouse gas emissions, the lawmakers said in a letter to SEC Chair Gary Gensler on Friday. The regulations, as proposed in March, don’t go far enough to hold financial firms accountable, they said.

“A firm that makes loans to, invests in, or insures a registrant that engages in climate-related risks bears a ...