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Citigroup and Bank of America Exit Global Climate-Banking Alliance

share-iconWednesday, January 01 comment-icon3 weeks ago 8 views
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Citigroup and Bank of America Exit Global Climate-Banking Alliance

Credited from: SCMP

  • Citigroup and Bank of America are departing from the Net-Zero Banking Alliance (NZBA), joining other Wall Street lenders.
  • While Citigroup asserts its commitment to achieving net zero emissions, it states that exiting NZBA is necessary.
  • Bank of America will continue working with clients to reduce greenhouse gas emissions despite its exit from NZBA.
  • The departure follows exits by Goldman Sachs and Wells Fargo, amid pressure from Republican lawmakers.
  • Both banks support GFANZ during its new phase and aim to assist clients in transitioning to a low-carbon economy.

For more details, visit the original article here.

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Gloria Terra

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