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. Energy reality can bite.

(© kamonrat – stock.adobe.com) The Net Zero Banking Alliance is a partnership of banks dedicated to reaching net-zero greenhouse gas emissions by 2050.. The Alliance was assembled in 2021 by ...

ISTANBUL. 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 ...

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.

JPMorgan said on Tuesday it was leaving the Net-Zero Banking Alliance, the latest U.S. lender to quit the sector's biggest climate coalition amid rising U.S. political pressure.

The Net Zero Banking Alliance lost the largest U.S. banks, but it still has more than 130 members, the majority of them European banks. On Friday, Canada’s four largest banks also quit the alliance.

The Net-Zero Banking Alliance is a subgroup of the Glasgow Financial Alliance for Net Zero, also founded in 2021. In its own statement last week, Citi said it plans to "focus [its] attention" on the ...

U.S. banks Citigroup and Bank of America said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.