Finance
Global climate finance alliances at risk as top lenders pull out | Semafor
Major global climate finance alliances are increasingly at risk with European lenders reportedly mulling following major US banks in withdrawing from the UN-backed Net Zero Banking Alliance.
The timing of the departures of top US banks including Citigroup, Goldman Sachs, JP Morgan, and Morgan Stanley — as well as four large Canadian counterparts, and potentially top lenders in Europe, too — is significant: US President Donald Trump and other Republicans have led criticism of finance’s role in the energy transition, and the latest departures come months after the COP29 climate summit sought to increase targets for global climate finance.