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The Guardian - UK
The Guardian - UK
Business
Damien Gayle Environment correspondent

Six big US banks quit net zero alliance before Trump inauguration

NZBA United States Donald Trump Inauguration Citigroup Bank of America Goldman Sachs JP Morgan Morgan Stanley Wells Fargo
aerial view of banks in Canary Wharf in east London.
Canary Wharf in east London. JP Morgan is the latest to withdraw from the UN-sponsored NZBA, following Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs. Photograph: AP S (uk)/Alamy

The six biggest banks in the US have all quit the global banking industry’s net zero target-setting group, with the imminent inauguration of Donald Trump as president expected to bring political backlash against climate action.

JP Morgan is the latest to withdraw from the UN-sponsored net zero banking alliance (NZBA), following Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs. All six have left since the start of December.

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