Gideon Benari
“Following careful thought, we have chosen to withdraw from the Net-Zero Banking Alliance,” stated Barclays. “With most international banks departing, the organization lacks the structure necessary to assist our [climate] transition.”
Wall Street banks started exiting the NZBA following Donald Trump's election as president in 2024, contributing to the fortification of the anti-climate agenda. Canadian banks quickly joined in, and in July, HSBC became the first British bank to exit the alliance.
Firms departing the alliance also consist of Goldman Sachs, Citigroup, Wells Fargo, Bank of America, JPMorgan, Morgan Stanley, Royal Bank of Canada, along with Australia's Macquarie and Japan's Nomura and Sumitomo Mitsui Financial Group.
Barclays announced it is upholding its objective of achieving net zero emissions by 2050.
According to Bloomberg, the NZBA stated it would maintain its support for “members in climate leadership by eliminating obstacles that hinder their customers from investing in the transition to net zero.”
source: bloomberg.com
Wall Street banks started exiting the NZBA following Donald Trump's election as president in 2024, contributing to the fortification of the anti-climate agenda. Canadian banks quickly joined in, and in July, HSBC became the first British bank to exit the alliance.
Firms departing the alliance also consist of Goldman Sachs, Citigroup, Wells Fargo, Bank of America, JPMorgan, Morgan Stanley, Royal Bank of Canada, along with Australia's Macquarie and Japan's Nomura and Sumitomo Mitsui Financial Group.
Barclays announced it is upholding its objective of achieving net zero emissions by 2050.
According to Bloomberg, the NZBA stated it would maintain its support for “members in climate leadership by eliminating obstacles that hinder their customers from investing in the transition to net zero.”
source: bloomberg.com