European banks have threatened to pull out of the sector’s largest climate alliance unless it softens its rules, as executives on both sides of the Atlantic fret about the future of net zero collaboration ahead of Donald Trump’s inauguration.
Top lenders in Europe are reconsidering their membership of the Net Zero Banking Alliance (NZBA), according to three people familiar with their thinking, after bulge-bracket US peers including JPMorgan, Citigroup and Goldman Sachs quit the group.
On Friday four of Canada’s biggest lenders also said they were withdrawing from the climate coalition.
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