🌍✨ Big banks behind “net zero” alliance continued lending to coal firms
Why we’re watching: Several major banks that helped set up the UN’s now-defunct Net-Zero Banking Alliance (NZBA) in 2021 have since continued to lend money to coal companies, a new report has revealed.
Bank of America, Barclays, Citibank, Deutsche Bank and Santander were heavily involved in the NZBA and the associated Glasgow Financial Alliance for Net Zero (GFANZ) when it was launched by Mark Carney, then a UN climate envoy and now Canada’s leader, in … 💚
Despite their involvement, data released this week shows those banks and some others did not reduce the amount of money they lent, nor the value of their underwriting, to coal activities between 2022 and 2025.
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🔭 What to watch next
- 📌 Key signal: Several major banks that helped set up the UN’s now-defunct Net-Zero Banking Alliance (NZBA) in 2021 have since continued to lend money…
- ✅ Watch for measurable follow-through, not just announcements.
- 🔎 Share the most practical takeaway with your community.
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Reporting curated for GreenTV. Original reporting via Climate Home News.