Major banks are abandoning their climate alliance en masse. So much for ‘woke capital’ | Adrienne Buller

JP Morgan became the sixth major US bank to quit the Net Zero Banking Alliance (NZBA) since the start of December .

The NZBA is a voluntary network of global banks committed to “align lending and investment portfolios with net zero emissions by 2050 ” The mood music on Wall Street is the threat of litigation for being seen as anti-Big Fossil.

GFANZ announced it would drop requirements for members to publish firm targets, allowing any financial institution working to mobilise capital and lower the barriers to financing energy transition to participate’ As the climate crisis accelerates and increasingly far-right politicians make gains around the world often on platforms that rally against the apparent elitism of climate politics.