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The great exodus: UBS joins HSBC and Barclays in quitting Net-Zero Banking Alliance

Close-up of arc with logo of Swiss bank UBS at famous Bahnhofstrasse on a sunny spring afternoon.
UBS has become the latest bank to exit the UN-backed coalition. Photo: Michael Derrer Fuchs/Getty Images

Jean Hurley

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The large-scale departure of its most prominent members raises serious questions about the alliance.

The Net-Zero Banking Alliance (NZBA) has been dealt another significant blow as UBS announced its withdrawal. The Swiss banking giant becomes the latest major financial institution to exit the UN-backed coalition. Its decision follows closely on the heels of similar moves by UK-based HSBC and Barclays, signaling a growing trend

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