Barclays follows HSBC in exit from banking industry’s net zero alliance | Barclays

Barclays, claiming that a wave of defect by international loans is no longer suitable for the purpose, was the second UK Bank withdrew from a Net Zero target setting group with UN supported.

After leaving in early July, the HSBC points to a new coup for the Net-Zero Banking Alliance (NZBA). Donald came to the opening of Trump in January by US banks months after the exit.

As a result of Trump’s return to the White House, the lenders and other financial firms put a new pressure on their green commitments, which led to climate reaction while pushing for higher oil and gas production.

The financial initiative of the UN Environmental Program, managed by banks, will enable members of the borrowing, investment and capital markets activities to achieve 2050 or earlier net zero emission targets.

However, Barclays said that he is no longer effective because he does not count some of the world’s largest lenders as a member. JP Morgan, Citigroup, Bank of America, Morgan Stanley and Goldman Sachs are among the US lenders who canceled their membership at the beginning of the year.

Barclays said in the afternoon that he said: ız We decided to withdraw from the net zero banking alliance after taking into account. With the separation of most global banks, the organization has no membership to support our transition. ”

On Thursday, Bill Winters, General Manager of Standard Chartered, condemned competitor banks for increasing political pressure and reducing their climate commitments: “Shame on them”. The climate criticized the companies that jumped into the bandwagon when they were “stylish ,, but since then he returned to his green ambitions or silenced.

“We are determined to be a net zero bank until 2050, Bar Barclays said that Barclays added that he plans to give sustainable projects to finance sustainable projects and to help companies to pass to more climatic -friendly operations to“ unchanged ”.

“While helping to ensure energy safety for our customers and customers, we continue to finance transitions, transitions and scale climate technology,” he added.

“This is an important commercial opportunity for Barclays, in 2024, we earned approximately half billion pounds of sustainable and transition activities.”