Wall Street Sets Off Trans-Atlantic Exodus From Once-Feted Club (2)

Inside the world’s largest climate coalition for banks, there’s speculation that an exodus led by Wall Street could be about to spread to the European Union.

The Net-Zero Banking Alliance, an organization dedicated to decarbonizing global finance, may be facing defections by some large EU banks with sizeable US exposures, according to a person close to the matter who asked not to be identified discussing private deliberations. The risk of being accused in the US of having an anti-oil bias appears a key concern among the banks, the person said.

EU exits from NZBA would mark a painful milestone for ...