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Wall Street Clashes With Green Bankers Fed Up With Oil Agenda

The world’s largest climate-finance alliance faces an embarrassing mutiny from its cleanest members.

A Triodos Bank branch.

A Triodos Bank branch.

Photographer: SOPA/LightRocket/Getty Images

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Inside the world’s biggest climate-finance alliance, a number of green banks are reviewing their membership in objection to perceived concessions to Wall Street.

The Net-Zero Banking Alliance, which is a sub-unit of the Glasgow Financial Alliance for Net Zero, faces a potentially embarrassing mutiny from some of the world’s most climate-conscious lenders after it decided against imposing binding restrictions on fossil-fuel financing. One lender, Germany’s GLS Bank, has already walked out in protest. Now, others say they may follow.