The global banking community has taken a significant step in catching up. Convened by the UN, the industry-led Net-Zero Banking Alliance (NZBA) was founded in late April by 43 banks from 23 countries across 5 continents, with assets of US$28.5 trillion – and the membership ranks continue to swell. This is an unprecedented commitment by banks to play their important role and do their part in decarbonising the real economy in line with the scientific call for action to limit global average temperature increase to maximum 1.5°C over pre-industrial levels by the end of the century.
- Publication date
- 5 July 2021