Citi and Bank of America Say They’re Leaving Global Climate-Banking Alliance
- Banks say they remain committed to reaching net zero targets
- Goldman Sachs and Wells Fargo have already exited NZBA
This article is for subscribers only.
Citigroup Inc. and Bank of America Corp. said they’re leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month.
In a statement, Citigroup said while it remains committed to achieving net zero emissions, it’s exiting the Net-Zero Banking Alliance. Bank of America said separately on Tuesday that it’s also leaving NZBA, adding that it will continue to work with clients on reducing greenhouse gas emissions.