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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Ireland has committed €15 million ($16.3 million) to Brazil's Amazon Fund over the next three years, aiming to support efforts to combat deforestation in the world's largest tropical rainforest.
A global seafarers' union has called for a transparent and internationally coordinated investigation into a collision between a fuel tanker and a container ship off the English coast that left one person presumed dead.
Russian President Vladimir Putin made a surprise visit to troops in the western Kursk region on Wednesday, donning military fatigues and ordering forces to press forward with their advance to fully reclaim the area from Ukrainian control.
U.S. President Donald Trump welcomed Irish Prime Minister Micheál Martin to the White House on Wednesday for the annual St. Patrick's Day celebration, using the occasion to accuse Ireland of benefiting unfairly from U.S. trade policies.
NASA is set to launch a SpaceX rocket from Florida on Wednesday, sending a replacement crew to the International Space Station (ISS) while preparing to bring home two U.S. astronauts stranded in space for nine months after Boeing’s Starliner faced technical issues.
Ireland has committed €15 million ($16.3 million) to Brazil's Amazon Fund over the next three years, aiming to support efforts to combat deforestation in the world's largest tropical rainforest.
Italy’s League party urges the government to favour Starlink over French-led Eutelsat for satellite communication systems, citing Starlink's technological edge. The push comes amid delays in the EU’s IRIS² program, as Italy seeks secure communication solutions for officials.
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Ireland has committed €15 million ($16.3 million) to Brazil's Amazon Fund over the next three years, aiming to support efforts to combat deforestation in the world's largest tropical rainforest.
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A global seafarers' union has called for a transparent and internationally coordinated investigation into a collision between a fuel tanker and a container ship off the English coast that left one person presumed dead.
Russian President Vladimir Putin made a surprise visit to troops in the western Kursk region on Wednesday, donning military fatigues and ordering forces to press forward with their advance to fully reclaim the area from Ukrainian control.
U.S. President Donald Trump welcomed Irish Prime Minister Micheál Martin to the White House on Wednesday for the annual St. Patrick's Day celebration, using the occasion to accuse Ireland of benefiting unfairly from U.S. trade policies.
NASA is set to launch a SpaceX rocket from Florida on Wednesday, sending a replacement crew to the International Space Station (ISS) while preparing to bring home two U.S. astronauts stranded in space for nine months after Boeing’s Starliner faced technical issues.
Ireland has committed €15 million ($16.3 million) to Brazil's Amazon Fund over the next three years, aiming to support efforts to combat deforestation in the world's largest tropical rainforest.
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