Major US banks are threatening to exit a leading climate financial alliance, fearing they might be sued over the grouping's stringent decarbonisation commitments, the Financial Times and Bloomberg reported on Wednesday.
Citing people familiar with the matter, Bloomberg said banks, including JPMorgan Chase, Morgan Stanley and Bank of America, are having second thoughts and might walk out of the Glasgow Financial Alliance for Net Zero (GFANZ).
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you