The Net-Zero Banking Alliance (NZBA), the UN's carbon neutrality programme for the banking sector, says it will cease its activities. Swiss bank UBS withdrew last August. The NZBA was launched in 2021 as part of the United Nations Environment Programme Finance Initiative (UNEP-FI) to encourage banks to take concrete steps to reduce the carbon footprint of their lending and investments and to play a key role in the transition to a carbon-neutral economy. + Swiss finance sector told to ‘green’ up its act The context is now less favourable for climate protection in Europe and the United States. At the beginning of August, UBS, one of the founding members, announced that it was withdrawing from the alliance, while hailing its "valuable role". At the time, the bank stated its ambition to be a leading player in sustainability remained intact. + Is sustainable finance wishful thinking? BNP Paribas, Crédit Agricole, Société Générale, Crédit Mutuel, the BPCE group (comprising the Banques ...
