THE CENTER SQUARE—Within one month of each other, six of the largest U.S. banks left the United Nations Net-Zero Banking Alliance not soon after Donald Trump was elected president.
Last month, Goldman Sachs was the first to withdraw from the alliance, followed by Wells Fargo, The Center Square reported.
By Dec. 31, Citigroup and Bank of America left, followed by Morgan Stanley on Jan. 6 and JPMorganChase on Jan. 7.
They did so after joining the alliance several years ago pledging to require environmental social governance standards across their platforms, products, and systems.
According to the “bank-led and UN-convened” alliance, global banks joined, pledging to align their lending, investment, and capital markets activities with net-zero greenhouse gas emissions by 2050, Net-Zero Banking Alliance explains.
Since April 2021, 141 banks in 44 countries…
