A 7688 New York Assembly · 2025 Regular Session

Establishes the "climate safe & responsible bank procurement act"

This bill requires New York state agencies to consider climate-related criteria when selecting banks for underwriting bond issuances or refinancing. It specifically mandates that banks with $100 billion or more in assets must disclose their scope 1-3 emissions, clean energy financing ratio, and policies banning support for coal projects or new fossil fuel infrastructure. Agencies must evaluate these factors as part of "best value" decisions for banking services, including credit cards and depository accounts. The law takes effect by 2027 for emissions reporting and applies to state contracts with large financial institutions.
Bill status in committee 1 of 4 stages cleared
Introduction
Apr 2025
Committee Review
Floor Vote
Governor
Introduced Apr 4, 2025 Last action Jan 7, 2026
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Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO BANKS
lower
Apr 4, 2025
Committee
REFERRED TO BANKS
lower
1 primary · 0 co-sponsors

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