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.
Iran and Israel said on Monday (8 June) they had halted attacks on each other following an appeal from U.S. President Donald Trump, as Axios reported...
The results of the Armenian parliamentary elections pose no specific obstacles to the signing of a peace deal between Armenia and Azerbaijan, a foundi...
The International Criminal Court's chief prosecutor, Karim Khan, has been suspended pending a vote by member states on whether he should be removed fr...
Corsica has moved a step closer to getting powers to make some laws locally after a French parliamentary committee approved a draft bill which would g...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 8 June, covering the latest developments you need to know....
Iran and Israel said on Monday (8 June) they had halted attacks on each other following an appeal from U.S. President Donald Trump, as Axios reported that Trump had privately told Benjamin Netanyahu “be careful, or you will be on your own very soon”.
The results of the Armenian parliamentary elections pose no specific obstacles to the signing of a peace deal between Armenia and Azerbaijan, a founding member of the victorious Civil Contract party has said.
The International Criminal Court's chief prosecutor, Karim Khan, has been suspended pending a vote by member states on whether he should be removed from office, following an investigation into allegations of sexual misconduct.
Corsica has moved a step closer to getting powers to make some laws locally after a French parliamentary committee approved a draft bill which would give the Mediterranean island more autonomy.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
Barcelona is preparing to mark a historic milestone in the legacy of architect Antoni Gaudí as Pope Leo XIV visits the city this week to inaugurate the Tower of Jesus Christ at the Sagrada Família basilica, almost exactly 100 years after the visionary architect’s death.
Financial markets are significantly underestimating the economic impact of biodiversity loss, potentially leaving countries exposed to sovereign debt crises and rising borrowing costs, according to new research published on Friday.
Wildlife researchers have identified dozens of previously unknown insect species during an expedition to Angola’s remote Lisima Plateau, a conservation group announced on Wednesday.
Global weather forecasters predict a strong El Niño will develop in the second half of 2026, bringing hotter, drier conditions to much of Asia while increasing rainfall in parts of North and South America.
Google has asked U.S. regulators for permission to release up to 32 million sterilised mosquitoes in California and Florida as part of its experimental “Debug” programme aimed at reducing populations of disease-carrying insects.
Thai investigators seized more than 100 protected wildlife remains after raiding a souvenir and traditional medicine shop accused of selling wildlife carcasses online.
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