“Banks are falling over themselves to leave the banking climate alliance. Not good, eh?”

Yes — major banks are abandoning the Net Zero Banking Alliance (NZBA), and it’s a worrying sign for climate accountability. 

By early 2026:

All six largest US banks (JPMorgan, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, Wells Fargo) have left. 

Canadian banks (BMO, TD, CIBC, National Bank) followed, citing legal threats. 

European banks like HSBC, Barclays, and UBS have also exited. 

Even Triodos, a green bank, quit — calling the alliance’s softened stance a “step in the wrong direction”. 

The NZBA has now ceased as a membership body, shifting to a non-binding guidance framework.  Critics say it’s effectively collapsed under political pressure, especially after Trump’s 2024 re-election and attacks on ESG. 

While banks claim they still back net zero, their actions — and continued fossil fuel financing — tell another story.