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.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Europe experienced its most extensive flooding since 2013 last year, with 30% of the continent’s river network impacted by severe floods, according to a joint report by the Copernicus Climate Change Service and the World Meteorological Organization.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
China has unveiled an ambitious expansion of its renewable energy programme, pledging major investment in solar and wind infrastructure to boost clean energy to 40% of its power mix by 2030—marking a decisive shift toward grid integration and nationwide deployment.
The inaugural Samarkand International Climate Forum will kick off on 4th April at the Silk Road Samarkand Congress Center in Uzbekistan. The high-profile forum will be held under the theme "Central Asia Facing Global Climate Challenges: Consolidation for Shared Prosperity."
Brazil has named automotive industry executive Dan Ioschpe as its official “climate champion” for the COP30 summit, to be held in Belém this November.
Belgium and Vietnam have signed agreements to collaborate on green hydrogen production during King Philippe’s historic visit to Hanoi.
The World Bank reported that air pollution leads to approximately 5.7 million deaths each year, with 95% of fatalities occurring in low- and middle-income nations. It also causes economic losses amounting to 5% of global GDP due to health impacts, productivity decline, and reduced life expectancy.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
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