This week the United Nations-convened Net Zero Banking Alliance (NZBA) overwhelmingly voted in favour of abandoning its commitment to “transition all…attributable GHG emissions from our lending and investment portfolios to align with pathways to net-zero by...
Net Zero Banking Alliance
Ditching net zero is a dangerous gamble for Japan’s megabanks
MUFG and SMBC's UN climate exit signals a troubling retreat from sustainability Eri Watanabe is a senior Japan energy finance campaigner at Market Forces, a clean energy finance advocacy group working across Asia and Australia. Japan's two largest banks, MUFG and...
Macquarie’s climate credentials up in smoke
By Kyle Robertson, Senior Banks Analyst, Market Forces. Macquarie Bank has sent shockwaves around the world quietly announcing it has quit the Net Zero Banking Alliance (NZBA) this week, taking the dubious honour of being the first major Australian financial...
Climate heat is still on investors despite BlackRock’s net zero exit
By Will van de Pol, CEO, Market Forces. Mr van de Pol is an expert in ethical asset management and clean energy finance. It is hard to rationalise the recent decisions United States banks and investors have made to quit climate initiatives at the same time as global...
Macquarie’s oil and gas lending brings its net zero commitments under fire
Macquarie, Australia’s fifth largest bank, faced questioning from Market Forces over inconsistencies between its oil and gas investments and its commitment to net zero emissions by 2050 at its 2024 Annual General Meeting in Sydney. As a Net Zero Banking Alliance...