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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Driverless lorries are already rolling on highways between Beijing and Tianjin port, showing how China’s transport industry could change soon.
Colombia has cut deforestation by a third in early 2025, with the biggest progress seen in Amazon national parks.
As countries ramp up offshore wind farms to meet climate goals, scientists are warning about a growing issue: wind farms accidentally draining energy from one another — a phenomenon now nicknamed “wind theft.”
Kenya has directed its tea factories to suspend ties with the Rainforest Alliance, saying the cost of ethical certification is too high for struggling smallholder farmers.
Rwanda has officially withdrawn from the Economic Community of Central African States (ECCAS), citing political bias and obstruction by the Democratic Republic of Congo (DRC).
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Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
Colombia has cut deforestation by a third in early 2025, with the biggest progress seen in Amazon national parks.
As countries ramp up offshore wind farms to meet climate goals, scientists are warning about a growing issue: wind farms accidentally draining energy from one another — a phenomenon now nicknamed “wind theft.”
The Development Bank of Latin America and the Caribbean (CAF) announced Saturday a significant boost to its commitment to ocean health, pledging an additional $2.5 billion in investments aimed at protecting marine ecosystems and fostering sustainable blue economic activities.
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The NGO Ocean Cleanup, in collaboration with the Guatemalan government and local communities, has installed the largest trash barrier to date on the Motagua River. This major effort aims to capture and remove vast amounts of garbage before it reaches the sea.
Driverless lorries are already rolling on highways between Beijing and Tianjin port, showing how China’s transport industry could change soon.
Colombia has cut deforestation by a third in early 2025, with the biggest progress seen in Amazon national parks.
As countries ramp up offshore wind farms to meet climate goals, scientists are warning about a growing issue: wind farms accidentally draining energy from one another — a phenomenon now nicknamed “wind theft.”
Kenya has directed its tea factories to suspend ties with the Rainforest Alliance, saying the cost of ethical certification is too high for struggling smallholder farmers.
Rwanda has officially withdrawn from the Economic Community of Central African States (ECCAS), citing political bias and obstruction by the Democratic Republic of Congo (DRC).
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