NY A10614

Requires New York State to establish procurement guidance by December 31, 2025 for purchasing banking services (credit cards, processing, depository services) that considers climate-related criteria as positive components of best value.

Mandates that banks with at least $100 billion in total consolidated assets disclose scope one, two, and three emissions in compliance with greenhouse gas reporting protocol standards by January 1, 2026 to contract with the state for bond underwriting services.

Requires state consideration of six climate criteria when selecting banks for bond underwriting and refinancing: emissions disclosure, clean energy financing ratios, coal project policies, new fossil fuel infrastructure policies, phase-out plans for existing fossil fuel investments, and net zero carbon plans by 2050 aligned with science-based targets.

Establishes definitions for "clean energy supply financing ratio," "coal projects," "fossil fuel projects," "new fossil fuel infrastructure," and "underwriting" within state finance law.

Applies severability clause ensuring the act remains enforceable if any provision is found invalid, with immediate effective date upon enactment.