NZBA softens climate target requirements for members
The move comes after many US, Canadian and Australian banks left the initiative.
The Net Zero Banking Alliance (NZBA) has lowered the level of climate ambition required from banks in order to join, from a 1.5ºC-aligned net zero goal to one “well below 2ºC”.
The amendment to NZBA’s rules comes after a large number of high-profile banks left the initiative following the election of Donald Trump as US President, and follows a year of consultations within the organisation.
