NZBA scraps requirement for banks to strictly target a 1.5°C warming scenario

Banks revise climate goals as shift toward net-zero stalls globally

The world’s largest climate-focused banking coalition has voted to weaken its emissions targets, loosening rules to accommodate the sluggish pace of economic and policy change since 2021.Virginia Furness reports for Reuters.In short:The UN-backed Net Zero Banking Alliance (NZBA) voted to replace its strict 1.5°C alignment rule with a softer target of “well-below 2°C,” while still encouraging efforts toward 1.5°C.Over 80% of member banks particip…

After the departure of the major US institutions, the Global Climate Banking Alliance lowered its ambition to achieve carbon neutrality in 2050.

NZBA scraps requirement for banks to strictly target a 1.5°C warming scenario

The United Nations’ Net-Zero Banking Alliance has updated its guidelines in the wake of departures, with its latest guidance aiming for global warming “well below 2°C.”

The banking institutions involved in the United Nations Carbon Neutrality Programme (NZBA) have revised the focus of their priorities. "Guidelines" become simple "guidances" when "requirements" are replaced by "recommendations". The post Paris Agreement: the banking alliance for climate reduces its ambitions appeared first on LesEco.ma.

What are the Potential Effects of Reclassifying CO2 as a Non-Pollutant

The EPA, led by Lee Zelden, has a global impact even before reconsidering the 2009 Endangerment Finding, which classifies CO2 and other greenhouse gases as pollutants under the Clean Air Act. Subscribed   Yesterday, the Washington Examiner published “Green banking group softens rules in bid to stem Wall Street exodus.”   One of the largest international green banking alliances moved to loosen its climate targets as an increasing number of banks…

At first glance, it is just a little grooming. But the NGO Reclaim Finance deplores "a huge leap backwards". One more. Tuesday, April 15, the Net Zero Banking Alliance (NZBA), a voluntary global alliance of banks under the aegis of the...