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The Latest Breaking News from NZBA

Banking industry’s net zero alliance shuts down amid faltering climate commitments

NZBA had nearly 150 members but banks began leaving when Trump was re-elected on promise to ‘drill, baby, drill’

The Guardian - UK

UN-backed Climate Banking Alliance Ceases Operations

The Net-Zero Banking Alliance, a UN-backed initiative seeking carbon neutral investments by banks, announced Friday its immediate shutdown -- at a time of faltering climate commitments in the United States and Europe.

International Business Times

Global banking climate group to stop operations after member exodus

Several major banks, including British lenders HSBC and Barclays, left the Net Zero Banking Alliance in the last year.

Evening Standard

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Barclays follows HSBC in exit from banking industry’s net zero alliance

US banks have already pulled out of NZBA, the UN environment programme’s finance initiative

The Guardian - UK

Barclays becomes second UK bank to quit industry’s net zero group

The lender joins the growing trend after US banks starting leaving the Net Zero Banking Alliance ahead of Donald Trump’s inauguration.

The Independent UK

‘Shame on them’: Standard Chartered CEO decries banks that drop climate pledges

Bill Winters criticises those that have rowed back on green commitments or have gone quiet amid political pressure

The Guardian - UK

HSBC becomes first UK bank to quit industry’s net zero alliance

Campaigners condemn ‘troubling’ move that follows departure of six of largest US banks after Trump’s election

The Guardian - UK

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Banks backtracked on climate pledges last year, handing €750bn to fossil fuel firms

In total, banks have financed fossil fuels to the tune of €6.9 trillion since the Paris Agreement was signed.

Euronews

HSBC net zero goal delayed 20 years, as CEO offered 600% bonus

Bank is criticised for pushing climate targets to 2050 and watering down environmental goals

The Guardian - UK

Major banks are abandoning their climate alliance en masse. So much for ‘woke capital’

The scope of the Cop26 net zero banking alliance may have been limited, but the exodus of six US banks signifies a seismic political shift, says senior research fellow Adrienne Buller

The Guardian - UK

Six big US banks quit net zero alliance before Trump inauguration

Exodus from target-setting group is attempt to head off ‘anti-woke’ attacks from rightwing politicians, say analysts

The Guardian - UK

Wall Street bails on climate coalition

Goldman Sachs, Wells Fargo, Morgan Stanley, Citi and Bank of America all left the Net-Zero Banking Alliance

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