Green banking group softens rules in bid to stem Wall Street exodus

One of the largest international green banking alliances moved to loosen its climate targets as an increasing number of banks have abandoned the group and its targets altogether in an apparent effort to get ahead of the Trump administration’s attempts to crack down on climate-focused initiatives and policies.

Launched in April 2021, the Net-Zero Banking Alliance aims to bring together global banks and institutions to set climate targets that align with the Paris Agreement.