Yet another initiative to curb carbon emissions announced it will cease unified operations in the wake of President Donald Trump’s 2024 election. The Net Zero Financial Services Providers Alliance, a group of stock exchanges, index providers, auditors, and research and data providers which sought to align the industry with a target of being net zero of carbon emissions by 2050, stated that it will reorganize, with members pursuing operations independently of the initiative. “Following the publication of target-setting frameworks across its functional groups, the Net Zero Financial Service Providers Alliance is reorganizing, with stock exchanges, research and data providers, index providers and auditors pursuing their activities independently of the initiative, including through integrating them into other existing forums and working groups,” the organization stated Wednesday. The alliance’s exchange group, which includes the London Stock Exchange Group, Euronext, Japan Exchange Group and the Luxembourg Stock Exchange, among others, will continue its work with the support of the UN Sustainable Stock Exchange Initiative. In October 2025, the Net Zero Banking Alliance ceased its operations following the exit of major U.S. banks, including Goldman Sachs, JPMorganChase, Morgan Stanley and Bank of America.