Climate First Bank

On May 3, 2023, Climate First Bank was placed on Oklahoma’s Restricted Financial Companies List for allegedly boycotting energy companies, as defined in 74 O.S. §12002(A)(l). After being placed on this list, Climate First Bank had 90 days to “cease engaging in the energy company boycott to avoid qualifying for divestment by the state governmental entity.” Climate First Bank did not cease its boycott and therefore remained on the 2024 list. In September 2024, however, following a legal challenge by a state retiree, an Oklahoma County district judge issued a permanent injunction prohibiting enforcement of the Oklahoma Energy Discrimination Act of 2022, the law that granted the State Treasurer authority to create and maintain the Restricted Financial Companies List. The court found that the Act contained “conflicting and vague provisions as to the exemptions/exceptions governmental entities may claim and conflicts to the required evidentiary standards.” The plaintiff argued that blacklisting firms that refuse to invest in oil and gas companies due to ESG policies harmed Oklahoma’s public pension funds. The defense, however, representing Treasurer Todd Russ, contended that continuing to do business with such firms undermined the state’s energy economy. In December 2024, the Oklahoma Attorney General Gentner Drummond appealed the injunction to the Oklahoma Supreme Court. The case remains pending (1)(2)(3)(4). Climate First Bank integrates ESG into its business practices. “…our success is rooted in our business model, which prioritizes environmental, social, and governance (ESG) strategies” (5).

Climate First Bank does not publish charitable giving guidelines (1).

Climate First Bank does not provide viewpoint protections for its employees (1).

After Florida’s Government and Corporate Activism Act passed, Climate First Bank publically considered relocation, denouncing the anti-ESG act (1). The bank offers “Pride Banking,” which is banking tailored to support the LGBTQ community (2)(3). The bank published a document titled “Banking on Climate Chaos” on its website, outing banks that are not climate and environment friendly (4)(5). The bank is a member of the Net Zero Banking Alliance, which formerly required a commitment to net zero carbon emissions by 2050. However, in April 2025, the NZBA dropped that commitment as a requirement for membership but still expects members to align their climate targets with limiting global warming to below 2 degrees Celsius by 2100 (6)(7)(8)(9). The bank is a member of the Partnership for Carbon Accounting Financials, committed to net zero carbon emissions by 2050 (10)(11)(12)(13).

Climate First Bank has not used corporate funds to advance ideological causes, organizations, or policies (1).

Climate First Bank does not operate a PAC or engage in lobbying at this time (1)(2)(3).