Bank Climate Group Formally Winds Down After Wall Street Exodus

The world’s biggest climate alliance for banks said on Friday it has ceased operations, bringing to a formal end a project that drew net zero pledges from many of the world’s biggest lenders just four years ago.

The Net-Zero Banking Alliance said in an emailed statement that its remaining signatories endorsed a proposal that the coalition no longer exist as a “member-based alliance.”

The guidance NZBA has developed to help banks set targets to reduce their financed emissions over time will remain publicly available, and individual banks can continue to reference these resources to help develop and deliver on their ...