Goldman Sachs Group, JPMorgan Chase & Co. and other big US banks have quit NZBA since the start of last month amid mounting pressure from Republican lawmakers who have attacked the industry’s climate efforts.
“While we regret to see any member leave the alliance, we appreciate the complexity of our US peers’ situation,” NZBA said in the note to members.
A spokesman for NZBA didn’t immediately reply to a message seeking comment.
NZBA still has more than 100 member banks from over 35 countries. Banks that are signed up commit to transition their financed emissions to align with “pathways to net zero by 2050” at the latest, according to the group’s website. They’re also required to provide 2030 targets to show they’re on track, and to document their progress.
See also: Goldman Sachs decides to leave world’s top climate alliance for banks
The banking alliance also has discussed how it can contribute to advocating for polices that support finance flows for the energy transition.
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