Reported 3 days ago
Citigroup has announced its exit from the Net-Zero Banking Alliance (NZBA), joining Wells Fargo and Goldman Sachs in distancing itself from the global coalition aimed at reducing greenhouse gas emissions. This decision reflects a growing trend among U.S. banks to reevaluate their commitments to climate initiatives as they face pressure from Republican policymakers and litigation regarding their climate-related actions. While Citi claims progress toward its net-zero targets, the departure from the NZBA highlights the challenges financial institutions face in balancing environmental goals with political and market pressures.
Source: YAHOO