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U.S. Banks Retreat from Climate Action Amid Pressure

1/21/2025

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Summary

Story summary

Major U.S. banks and asset managers, like JPMorgan and BlackRock, withdrew from climate action networks due to political and legal pressures.
The Glasgow Financial Alliance for Net Zero (GFANZ) eased its alignment standards with the Paris Agreement in response to escalating climate crises.
Analysts caution that Trump's administration could further weaken global financial commitments to climate objectives.

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Story summary

Major U.S. banks and asset managers, like JPMorgan and BlackRock, withdrew from climate action networks due to political and legal pressures.
The Glasgow Financial Alliance for Net Zero (GFANZ) eased its alignment standards with the Paris Agreement in response to escalating climate crises.
Analysts caution that Trump's administration could further weaken global financial commitments to climate objectives.