Published 2 months ago • loading... • Updated 1 month ago

Six Major U.S. Banks Withdraw from Net Zero Alliance Amid Political Climate Changes

Six major U.S. Banks, including Goldman Sachs and Wells Fargo, have withdrawn from the Net-Zero Banking Alliance amid political changes and threats of antitrust action from Republican politicians.
The exit of these banks leaves JPMorgan as the only major U.S. Bank still in the alliance, which aims to align financing with climate goals.
Advocates express concern that the banks' departures signal a decreased commitment to climate change initiatives and may lead to reduced climate-friendly policies.
The backlash against environmental, social, and governance investing has intensified following the recent election of Republican politicians, including the return of Donald Trump as president.

Insights by Ground AI

Does this summary seem wrong?

67 Articles

All

Left

Center

Right

Le·gal In·sur·rec·tion

Six Major US Banks Pull Plug on 'Net Zero' Alliance

JP Morgan becomes latest to withdraw from the United Nations-guided Net Zero Banking Alliance, a UN-backed coalition of banks committed to aligning their financial activities with net-zero carbon emissions goals by 2050.

1 month ago

Read Full Article

valeursactuelles.com

Benoît Rittaud: “Net Zero” is no longer a hit

At the United Nations Environment Programme, there is an atmosphere of domino effect. On January 7, in fact, the American bank JPMorgan left its Net-Zero Banking Alliance (NZBA) — created in 2021 and bringing together the world's largest banks in order to promote the transition of the global economy towards carbon neutrality —, the latest defection in a series that is getting going on: Goldman Sachs got the ball rolling in early December, quickl…

1 month ago

Read Full Article

The Daily Signal

Within a Month, 6 Largest US Banks Leave UN Net-Zero Banking Alliance

THE CENTER SQUARE—Within one month of each other, six of the largest U.S. banks left the United Nations Net-Zero Banking Alliance not soon after Donald Trump was elected president. Last month, Goldman Sachs was the first to withdraw from the alliance, followed by Wells Fargo, The Center Square reported. By Dec. 31, Citigroup and Bank of America left, followed by Morgan Stanley on Jan. 6 and JPMorganChase on Jan. 7. They did so after joining the …

1 month ago·Washington, United States

Read Full Article

ESG Dive

Texas AG drops probe of major US banks after exodus from climate alliance

Banking news

1 month ago

Read Full Article

The Star News Network

Within a Month, Six Largest U.S. Banks Leave UN Net-Zero Banking Alliance | The Star News Network

by Bethany Blankley Within one month of each other, six of the largest U.S. banks left the United Nations Net-Zero Banking Alliance (NZBA) not soon after Donald Trump was elected president. Last month, Goldman Sachs was the first to withdraw from the alliance, followed by Wells Fargo, The Center Square reported. By Dec. 31, Citigroup and Bank of America left, followed by Morgan Stanley on Jan. 6 and JPMorgan on Jan. 7. They did so after joinin…

1 month ago

Read Full Article