Banks try quiet quitting on net-zero goals

For some bankers, net-zero is sort of a new yr’s decision — a pledge one makes and infrequently breaks earlier than a yr has handed.

A number of of the biggest banks, together with JPMorgan, Financial institution of America, and Morgan Stanley, headed into the U.N. COP26 local weather talks final yr as members of the world’s greatest zero-carbon finance membership. Their membership within the Glasgow Monetary Alliance for Web Zero (GFANZ), a gaggle of roughly 500 monetary sector entities, publicly dedicated their banks to achieve net-zero carbon emissions by midcentury.