Top U.S. Banks Quit Climate Pact

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Five major U.S. banks have left the UN-backed Net-Zero Banking Alliance (NZBA), signaling a shift in climate change strategies.

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Republican lawmakers argue that climate-focused banking policies hurt American oil and gas industries.

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Texas and 10 other states sued asset managers over alleged energy price hikes due to climate activism.

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Banks are navigating a delicate balance between business interests and environmental commitments.

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The departure of major banks marks a significant change in global climate-focused financial collaboration.

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Despite leaving, banks like Morgan Stanley claim their commitment to net-zero carbon emissions remains firm.

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Banks plan to support climate finance initiatives individually, favoring emerging markets.

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Consumers and businesses must track individual banks' policies for environmentally conscious financial decisions.

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