The country’s biggest banks are backing away from their climate change promises, a move that could affect how companies tackle environmental challenges. In the past month alone, five major U.S. banks – Morgan Stanley, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs – have quit the Net-Zero Banking Alliance (NZBA), a UN-backed group committed to fighting climate change through their financing activities. Why Banks Are Leaving Republican lawmakers have been putting intense pressure on banks, arguing that their climate promises hurt American businesses, especially oil and gas companies. In a recent lawsuit, Texas and 10 other Republican states sued … Continue reading Major U.S. Banks Exit UN Climate Alliance Amid Political Pushback