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Net zero banking group abandons operations after member exodus
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City AM
Net zero banking group abandons operations after member exodusThe world’s banking sector has exited from ESG commitments.
The global Net Zero Banking Alliance (NZBA) has announced it will cease operations following an exodus of its membership after President Donald Trump returned to power.
It follows banking giants across the globe rowing back on environment, social and governance (ESG) policies leading to them ditching the group.
By January, JP Morgan became the last to exit the alliance sealing a complete Wall Street exodus after Citi, Bank of America, Morgan Stanley and Wells Fargo all quit the group.
City banks followed Wall Street in net zero exodusIn London, the City’s banking titans followed suit with Wall Street.