Bank of America and Citigroup are the latest banks to leave the Net-Zero Banking Alliance, despite Citigroup helping launch the UN-backed climate pledge in 2021. This potentially indicates a trend of US banks, including Goldman Sachs and Wells Fargo who previously decided to quit the alliance, retreating from climate goals during Trump’s second term as US president. The Financial Times covers the story.
‘ESG Investing Isn’t Going Away’ is amongst the 15 climate trends set out by Bloomberg in its predictions for 2025. In the energy sector, the solar installation rate is set to slow whereas nuclear power is having a revival. Meanwhile, there is growing momentum globally for curbing the production and consumption of plastic and other potentially harmful forever chemicals. Bloomberg covers the story.
