UN-backed banking group seeks to avoid deviation from new climate guidelines

Business and Financeenvironment

Reuters exclusive report A U.N.-backed alliance of banks is proposing that its members disclose more information about their commitments to combat climate change without requiring them to coordinate action, hoping the compromise will prevent members from defecting.

market impact

The 143-member Net Zero Banking Alliance (NZBA), which manages $74 trillion in capital, is trying to stay intact as attacks on environmental, social and governance (ESG) policies by some U.S. politicians and investors test banks’ ability to remain intact. Come down determined as a member.

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Topics of interest: Business and Financeenvironment

type: Reuters Best

department: Business and Financeclimate change

area: America

Winning type: exclusivity

Story type: exclusive/exclusive report

media type: text

Customer Impact: Important regional stories

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By Ali Raza

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