Bankers Climate Alliance Prepares Vote on Ditching 1.5C Goal

The world’s biggest climate alliance for banks is about to vote on whether it’s time to abandon a once hallowed goal.

The roughly 130 signatories of the Net-Zero Banking Alliance, a group that includes Barclays Plc and UBS Group AG, will be handed a proposal for a revised strategy by NZBA’s steering group on Tuesday, according to a member of the group who asked not to be identified sharing confidential information. NZBA members will then have roughly four weeks to accept or reject the plan, the person said.