Exodus from target-setting group is attempt to head off ‘anti-woke’ attacks from rightwing politicians, say analysts
• Business live – latest updates
The six biggest banks in the US have all quit the global banking industry’s net zero target-setting group, with the imminent inauguration of Donald Trump as president expected to bring political backlash against climate action.
JP Morgan is the latest to withdraw from the UN-sponsored net zero banking alliance (NZBA), following Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs. All six have left since the start of December.
About Author
More Stories
Ripe for the picking? Irish wine on the up – but ‘nobody will retire rich’
Pound dips to 14-month low as bond sell-off piles pressure on Rachel Reeves
Meta has ‘heard the message’ from Trump, says whistleblower Frances Haugen