JPMorgan is the latest major US bank to exit the NZBA. (Photo: iStock)
Update: Trump promises to stop new wind farms and JPMorgan leaves NZBA
On Jan. 7, during a press conference at his Mar-a-Lago estate in Florida, U.S. President-elect Donald Trump emphasized that he would not approve the construction of any wind farms during his term.
At the same time, the U.S. financial sector seems to be feeling political pressure, with major banks increasingly choosing to exit the net-zero alliance. In less than a month, six of the largest banks in the U.S., including JPMorgan, have announced their withdrawal from the United Nations Net-Zero Banking Alliance (NZBA). The following is the report from Jan. 3:
The commitment of major US financial institutions to net-zero goals is facing increasing challenges. Following Goldman Sachs and Wells Fargo, Morgan Stanley, Citigroup and Bank of America also announced by the end of 2024 their decision to exit the United Nations' Net-Zero Banking Alliance (NZBA).
