The world’s leading banking climate coalition is reassessing its membership rules following the departure of major banks and slower-than-expected progress on climate goals, its chair told Reuters.
The Net Zero Banking Alliance (NZBA) is consulting members on potential rule changes, including dropping the requirement to align lending with a 1.5°C warming cap, a source familiar with the talks said.
The move comes as several major U.S., Australian, Canadian, and Japanese banks have exited the coalition, especially following U.S. President Donald Trump’s return to office.
NZBA Chair Shargiil Bashir said the review, flagged to members on Tuesday, reflects developments in science, policy, and regulations. While he did not disclose specific proposals, he acknowledged the evolving challenges banks face in supporting the net-zero transition.
Since its founding four years ago, the alliance has aimed to push the financial sector toward climate-friendly lending practices. However, mounting political and economic pressures have led some banks to scale back their climate commitments.
Last year, Morgan Stanley became the first major bank to lower its emission reduction targets. The exits of six top U.S. banks before Trump's inauguration marked a turning point, raising doubts about the alliance’s long-term influence.
"NZBA is evolving its offer in response to changing external circumstances and member needs," Bashir said.
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South Korea's intelligence agency believes there is a strong possibility that North Korea and the United States will hold a summit, with the meeting potentially taking place after March, a lawmaker has said.
Mexico has expressed regret over Peru’s decision to sever diplomatic relations after the Mexican government granted asylum to former Peruvian Prime Minister Betssy Chavez.
Brussels Airport is closed after the reported sighting of a drone, said the Belgian air traffic control service and a spokeswoman for the airport.
The U.S. is collaborating with other nations to help end the conflict in Sudan, the White House stated on Tuesday, following reports of mass killings during the capture of a city by paramilitary forces last week.
Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.
At least 37 people have died and five are missing after devastating floods and landslides hit central Vietnam, officials said Monday, as a new typhoon threatens to worsen the disaster.
U.S. President Donald Trump said he does not believe the United States is going to war with Venezuela despite growing tensions, though he suggested President Nicolás Maduro’s time in power may be nearing its end.
Tanzania's President Samia Suluhu Hassan vowed on Monday to move on from deadly protests set off by last week's disputed election as she was sworn into office for her first elected term.
The eastern Ukrainian city of Pokrovsk has emerged as a critical point in Russia’s campaign to seize the remaining Ukrainian-held parts of Donetsk, and its fate could shape the course of the conflict in the region.
The world remains far off track to meet the goals of the Paris Agreement, according to the 16th edition of the UN Environment Programme’s (UNEP) Emissions Gap Report, released this week.
EU climate ministers will make a last-ditch attempt to pass a new climate change target on Tuesday, in an effort to avoid going to the United Nations COP30 summit in Brazil empty-handed.
Brazil opens three weeks of events linked to the COP30 climate summit, hoping to showcase a world still determined to tackle global warming.
Residents of Hoi An, Vietnam’s UNESCO-listed ancient town, began cleaning up on Saturday as floodwaters receded following days of torrential rain that brought deadly flooding and widespread destruction to the central region.
At least 13 people have been killed and 11 remain missing after record rainfall caused severe flooding across central Vietnam, submerging homes and disrupting transport in the historic cities of Hue and Hoi An.
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