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JP Morgan becomes sixth US bank to leave net zero alliance

The JPMorgan Chase headquarters on Park Avenue in New York.
Photo: Richard Levine/Corbis via Getty Images

Jean Hurley

3 min read
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As all founding US banks pull out of the Net Zero Banking Alliance, we look for reasons why and what’s next for the global net zero alliance.

Six major US banks have recently withdrawn from the Net Zero Banking Alliance (NZBA), a UN-sponsored initiative aimed at aligning the global banking sector with net-zero greenhouse gas emissions by 2050.

JP Morgan is the latest bank to depart, following Citigroup, Goldman Sachs, Wells Fargo, Bank of America and Morgan Stanley.

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