And Then There Were NONE! JPMorgan becomes last of the Big-6 U.S. banks to quit Net-Zero Banking Alliance
By Marc Morano
January 7, 2025
3:39 pm
https://www.reuters.com/business/environment/jpmorgan-says-leave-net-zero-banking-alliance-2025-01-07/By Simon Jessop
Last of the Big-6 U.S. banks to leave the group
Says remains ‘focused on pragmatic’ climate solutions
Exit comes amid rising U.S. political pressure
LONDON, Jan 7 (Reuters) – JPMorgan (JPM.N), opens new tab said on Tuesday it was leaving the Net-Zero Banking Alliance, the latest U.S. lender to quit the sector’s biggest climate coalition amid rising U.S. political pressure.
The move means the six biggest banks in the world’s largest economy – Goldman Sachs (GS.N), opens new tab, Wells Fargo (WFC.N), opens new tab, Citi (C.N), opens new tab, Bank of America (BAC.N), opens new tab, Morgan Stanley (MS.N), opens new tab and now JPMorgan – have all left the group in the space of a month.
JPMorgan gave no clear reason for leaving the initiative, yet it comes after months of pressure from some Republican politicians who said membership of such coalitions could breach anti-trust rules.
https://www.climatedepot.com/2025/01/07/and-then-there-were-none-jpmorgan-becomes-last-of-the-big-6-u-s-banks-to-quit-net-zero-banking-alliance/
