Tag: Net-Zero Banking Alliance
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Net-Zero Banking Alliance shuts down after member exodus
The end of an era for climate finance governance The Net-Zero Banking Alliance (NZBA), the industry-led initiative once championed by former U.N. climate envoy Mark Carney, has ceased operations after losing most of its membership. The organization, launched in April 2021, effectively shut down on Friday, four years after its public debut as a collective…
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Carney-led Net-Zero Banking Alliance collapses after mass member exodus
The rise and fall of the NZBA Carney-championed and global in reach, the Net-Zero Banking Alliance (NZBA) was formed in April 2021 as part of a broader push to align lending with climate goals. Then-United Nations special envoy on climate action and finance, Mark Carney, helped bring together 63 financial institutions from 32 countries, representing…