Pakistan, March 18 -- In early January 2025, all six of the largest U.S. banks, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo, withdrew from the U.N.-sponsored Net-Zero Banking Alliance (NZBA). Experts have stated that the change in political scenario and the potential shift away from ESG (Environmental, Social, and Governance) investing under a new US administration are the primary reasons behind this departure. However, this raises serious questions regarding the green and sustainable commitment of the banking industry. It also highlights the major debate on the need for mandatory net-zero policy frameworks or regulations for the banking industry. Over the past decade, these six ban...
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