As NZBA Shuts Down Membership Model, Southeast Asian Banks Reaffirm De

Net Zero Banking Alliance closure shows hurdle of setting single standards, industry body says

The demise of the UN-backed Net Zero Banking Alliance (NZBA) has highlighted how difficult it is to create single standards for the global financial sector, the Bankers Association for Finance and Trade (Baft) has said. The NZBA officially shut down earlier this month after members voted to end the alliance and instead use its guidance as a framework for setting net-zero targets. The decision, which comes after a rocky year for the organisation …

Net-Zero Banking Alliance Shuts Down

Following a mass exodus by major industry players, the Net-Zero Banking Alliance is shutting down. The Net-Zero Banking Alliance (NZBA) has announced it will shut down operations immediately after its remaining members «voted to transition from a member-based alliance and to establish its guidance as a framework», according to a statement. At its peak, the group saw nearly 150 members but since the re-election of US President Donald Trump who pr…

As NZBA shuts down membership model, Southeast Asian banks reaffirm de

The alliance to decarbonise the finance sector will transition its guidance into a framework. Malaysia-headquartered bank CIMB said it would continue updating the guidance and resources developed by the NZBA.