"Pause of the ongoing activities" of the Net-Zero Banking Alliance

To transition from a membership-based alliance to a new framework initiative: the steering board of the Net Zero Banking Alliance initiated a member vote to define a new guidance to the Alliance, responding to member input.

"Recognizing there is major opportunity for banks and key stakeholders to build on the Alliance’s outputs and to accelerate action on key priorities, NZBA encourages the banking sector to remain steadfast in implementing their net-zero commitments", declares the Alliance, on 27/08/2025.

Founded in October 2021 at Glasgow's COP with the backing of the UNEP-FI, the Alliance had gathered 150 financial institutions from around the world. However, many of its most important members have since quit, first in the USA following Donald Trump's election (Goldman Sachs, Morgan Stanley, Citigroup and Bank of America), and also in Europe (UBS, Barclays and HSBC). The Net-Zero Banking Alliance had already lowered its ambitions in April 2025, setting out the maximum 1,5° heating target of the Paris agreement.

NZBA has paused its ongoing activities while members complete the…