Citi, BofA Bolt Net-Zero Alliance as Anti-ESG Backlash Grows
Banks scramble to contain legal pushback spearheaded by Texas, other states.
U.S. banks Citigroup and Bank of America said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.
They follow Wells Fargo and Goldman Sachs which both left the alliance earlier this month. Financial firms, historically criticized for their connections to the fossil …
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