U.S. Banking Exodus from Net Zero Alliance Signals Fear of ‘Anti-Woke’ Politics

Less than two weeks before the inauguration of Donald Trump as President of the United States, the six biggest banks in the country have quit the UN-sponsored net zero banking alliance (NZBA), the global banking industry’s group seeking to achieve net-zero carbon emissions by 2050 or earlier. According to The Guardian, the move is an attempt to head off political backlash against climate action that’s expected to increase under the Trump administration.

JP Morgan is the latest to withdraw from the alliance, following Citigroup, Bank of Ame…