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.
Russia’s top foreign policy adviser has criticised recent European and Ukrainian amendments to U.S. proposals for ending the war in Ukraine, saying ...
Director James Cameron has shared the key reasons behind the global success of Avatar: Fire and Ash, the third installment in one of the highest-gross...
As pollution levels in New Delhi reached dangerously high levels over the weekend, residents of the Indian capital sought refuge in the cooler, cleane...
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some ...
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines th...
Russia’s top foreign policy adviser has criticised recent European and Ukrainian amendments to U.S. proposals for ending the war in Ukraine, saying the changes do not increase the likelihood of peace.
The European Union stands at a crossroads: to receive new members and accelerate the enlargement process in order to strengthen its role in the international arena, or to risk strategic stagnation by delaying expansion in favor of internal reform.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state.
Senior representatives from the U.S., Egypt, Qatar and Türkiye have held talks in Miami to assess progress on the Gaza ceasefire and lay the groundwork for its next phase, according to a statement issued by U.S. envoy Steve Witkoff.
The death toll from Hong Kong’s deadliest fire in decades has risen to 161, after forensic analysis confirmed one more victim among the charred remains at Wang Fuk Court in Tai Po, more than three weeks after the blaze began, authorities said on Saturday.
Israeli Prime Minister Benjamin Netanyahu is set to meet President Donald Trump on 29 December in Florida, where he is expected to present a package of military options regarding Iran, Israel’s public broadcaster KAN reported on Saturday.
The United States seized a second merchant vessel carrying oil off the coast of Venezuela in international waters on Saturday, as part of Washington’s sanctions enforcement campaign, according to the Department of Homeland Security.
The United States has proposed a potential new format for peace talks between Ukraine and Russia, which could include American and European representatives, Ukrainian President Volodymyr Zelenskyy said on Saturday, December 20.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Dense smog has forced authorities in Pakistan’s Punjab province to shut several major motorways on Tuesday (16 December), stranding commuters as visibility dropped sharply and Lahore’s air quality reached hazardous levels.
At least 37 people have been killed in flash floods triggered by torrential rain in Morocco's Atlantic coastal province of Safi, Moroccan authorities said on Monday (15 December).
Climatologists say Poland has logged its warmest December in 74 years, with 2025 continuing a run of above-average temperatures and repeated national records.
As the world marks the tenth anniversary of the Paris Agreement, progress in combating global climate change is mixed.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment