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.
Russian President Vladimir Putin and U.S. President Donald Trump are set to meet in the coming days, according to Kremlin aide Yuri Ushakov, marking t...
South African President Cyril Ramaphosa spoke by phone with U.S. President Donald Trump to discuss bilateral trade, with both leaders agreeing that th...
Indian Prime Minister Narendra Modi said on Thursday affirmed his unwavering commitment to India’s agricultural community, vowing to protect farmers...
Most peace talks fail. Some drag on for years. Others collapse in days. But even when they don’t succeed, they can save lives. From backchannel meet...
Russian President Vladimir Putin and U.S. President Donald Trump are set to meet in the coming days, according to Kremlin aide Yuri Ushakov, marking the first summit between the two leaders since 2021.
South African President Cyril Ramaphosa spoke by phone with U.S. President Donald Trump to discuss bilateral trade, with both leaders agreeing that their respective negotiating teams would continue more detailed talks, Ramaphosa’s office announced on Thursday.
Most peace talks fail. Some drag on for years. Others collapse in days. But even when they don’t succeed, they can save lives. From backchannel meetings to battlefield truces, here’s how peace talks actually work — and why making peace is often harder than making war.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The Great Barrier Reef has suffered its most significant coral decline in nearly four decades, according to a report released on Wednesday by the Australian Institute of Marine Sciences (AIMS).
Torrential monsoon rains continue to wreak havoc across northern and eastern India, with widespread flooding reported in Uttar Pradesh and West Bengal. Overflowing rivers, submerged streets, and landslides have left residents stranded and local infrastructure overwhelmed.
Volcanoes can ground planes, bury towns, and reshape landscapes in hours. With over 850 eruptions since 2015, Earth is constantly reminding us of its raw power, but why does it erupt, and what can we expect next?
Beijing had evacuated over 70,000 residents by Monday afternoon as authorities issued fresh warnings of intense rainfall, just a week after deadly floods left dozens dead in the city’s worst deluge since 2012.
Plastic pollution is causing more than $1.5 trillion in health-related economic damage each year and is linked to illness and death throughout the human lifespan, according to a new review published in 'The Lancet' on Sunday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment