Photo: Manuel Balce Ceneta/Associated Press The climate policy retreat is accelerating as Citigroup, Bank of America and Morgan Stanley this week joined an exodus from the Net-Zero Banking Alliance.

Last week, the bank-led and UN-convened Net-Zero Banking Alliance (NZBA) published its 2024 Progress Report. This report, the second in its kind, “summarises information received from 122 NZBA ...

The Net Zero Banking Alliance, a group of leading global banks, decided Tuesday to scrap a requirement for its members to align their lending, investment and capital markets activities with a ...

JPMorgan’s exit from the Net Zero Banking Alliance marks the sixth such action from a large US bank since early December 2024, when Goldman Sachs was the first to announce its withdrawal from ...

The Net Zero Banking Alliance, launched in 2021 as part of the Glasgow Financial Alliance for Net Zero (GFANZ), sought to unite banks in a collective effort to achieve net-zero emissions by 2050.

Financial firms, historically criticized for their connections to the fossil fuel industry, have made efforts to incorporate net-zero standards more prominently into their operations. However ...

Morgan Stanley has quit Mark Carney’s net zero banking group, joining a broader Wall Street exodus as Donald Trump prepares to re-enter the White House. The US banking giant, which employs 5,000 ...

Japan’s second-largest bank has decided to withdraw from the Net-Zero Banking Alliance, a spokesperson said Tuesday. Nikkei had earlier reported the lender’s plan to quit the alliance.

Macquarie's decision came after America's biggest banks withdrew from the Net Zero Banking Alliance (NZBA) ahead of Trump's inauguration as US president. A number of Canadian banks also followed suit.

More than 130 of the world's top banks in the Alliance are expected to be asked to vote on rowing back their climate goals in response to intensifying backlash against ESG policies Some of the ...