NY A07688

Requires the state to establish procurement guidance by December 31, 2026 for purchasing banking services (credit cards, credit card processing, depository services) that incorporates climate-related criteria into "best value" determinations

Prohibits New York State and its authorities from contracting with banks for bond underwriting services unless the bank has disclosed scope 1, 2, and 3 greenhouse gas emissions in compliance with category 15 of the GHG emissions reporting protocol by January 2027

Requires state entities selecting banks for bond underwriting to consider whether banks have policies barring coal project support, commitments to withhold support for new fossil fuel infrastructure, and plans to achieve net zero carbon emissions by 2050

Applies only to banks with at least $100 billion in total consolidated assets

Defines key terms including "fossil fuel project" (projects designed to produce and transport fossil fuels), "new fossil fuel infrastructure," and "clean energy supply financing ratio" (ratio of financing in low carbon energy versus fossil fuel energy supply)