As Banks Quit UN Climate Alliance, Critics Say Too Soon to Declare Victory

‘It’s encouraging to see these alliances unravel, but I wouldn’t call it a victory,’ Utah Treasurer Marlo Oaks said.
As Banks Quit UN Climate Alliance, Critics Say Too Soon to Declare Victory
Canadian Prime Minister Mark Carney speaks during the Canada 2020 Net-Zero Leadership Summit in Ottawa on April 19, 2023. The Canadian Press/Sean Kilpatrick
|Updated:
0:00
A net-zero club for banks is the latest global climate alliance to halt operations after mass departures of its members, but analysts say the departures could be more about avoiding legal action than a fundamental change of heart. 
On Aug. 27, having experienced a loss of members—including all six of America’s largest banks—the Net Zero Banking Alliance (NZBA) recommended to the banks that remained that the organization transition from a “membership-based alliance” to a “framework initiative.”
Kevin Stocklin
Kevin Stocklin
Reporter
Kevin Stocklin is a contributor to The Epoch Times who covers the ESG industry, global governance, and the intersection of politics and business.