Kimberly Redmond | |

Several leading financial institutions, including UBS Group, DBS Bank, ABN AMRO Bank and Danske Bank, are hoping to accelerate the transition toward a sustainable economy by developing new impact-reporting standards that account for social and environmental factors.

As part of the Banking for Impact initiative announced Wednesday, the banks will team up with Harvard Business School and the Impact Institute to create a standardized method by the end of 2022 that tracks the impact of lending that isn't captured by traditional financial reporting.

AP News | |

President Joe Biden released a $1.5 trillion wish list for his first federal budget, asking for substantial gains for Democratic priorities including education, health care, housing and environmental protection.

The request by the White House budget office Friday for an 8.4% increase in agency operating budgets spells out Biden’s top priorities as Congress weighs its spending plans for next year. It’s the first financial outline of the Democrats’ broader ambitions since the expiration of a 2011 law that capped congressional spending.

Kimberly Redmond | |

Canadian Pacific Railway Ltd (NYSE: CP) announced Sunday that it has agreed to buy Kansas City Southern (NYSE: KSU), creating the first rail network through the US, Canada and Mexico.

According to a press release, Canadian Pacific Railway will acquire Kansas City Southern for approximately $25 billion in cash and stock plus the assumption of about $3.8 billion in debt.

Kimberly Redmond | |

Supermarket chain Aldi has unveiled a new series of sustainability goals that seek to curb greenhouse gas emissions, operational waste, packaging materials and food waste.

On Wednesday, the discount grocer, which has more than 2,000 stores across the US, announced key measures it plans to achieve between now and 2030 as part of its larger, ongoing commitment to “protecting the planet’s resources and ecosystems.”