JPMorgan Chase Exits Net-Zero Banking Alliance as Last Major US Bank to Depart the Coalition
JPMorgan Chase confirmed its departure from the Net-Zero Banking Alliance on 7 January 2025, saying it would pursue independent efforts on low-carbon technology and energy security.
Morgan Stanley Publishes 2025 Sustainable Issuance Framework with Sustainalytics Second Party Opinion
Morgan Stanley has launched a unified sustainable issuance framework covering seven use-of-proceeds categories, assessed by Sustainalytics in a second-party opinion against ICMA principles.
Morgan Stanley Exits Net-Zero Banking Alliance, Leaving JPMorgan as Last Major US Bank in UN Climate Coalition
Morgan Stanley quit the Net-Zero Banking Alliance on 2 January 2025, saying its commitment to net zero remained unchanged as Wall Street's retreat from the UN coalition neared completion.
Australia's APRA Keeps Climate Risk in Focus as Mandatory Reporting Begins in 2025
APRA enters 2025 with climate risk oversight built on its CVA programme and CPG 229 guidance as mandatory climate reporting begins for large entities.
Mexico's CINIF Sustainability Reporting Standards Become Mandatory for Financial Institutions from January 2025
Mexico's CINIF Sustainability Information Standards (NIS) take mandatory effect on 1 January 2025 for all entities reporting under Mexican Financial Reporting Standards, including banks.
Bank of America Exits Net-Zero Banking Alliance as Fourth Major US Bank to Leave in December
Bank of America withdrew from the Net-Zero Banking Alliance on 31 December 2024, the fourth large US lender to exit the UN-backed coalition that month.
Citigroup Exits Net-Zero Banking Alliance, Joining US Rivals in Departing UN Coalition
Citigroup confirmed its departure from the Net-Zero Banking Alliance on 31 December 2024, while pledging to maintain broader GFANZ climate finance commitments.
EU Green Bond Standard Takes Effect in December 2024 Under Regulation (EU) 2023/2631
The EU Green Bond Standard became effective in December 2024, establishing a regulatory framework requiring EU Taxonomy alignment and independent reviews.
Wells Fargo Exits Net-Zero Banking Alliance, Becoming Second Major US Bank to Leave Climate Coalition
Wells Fargo quit the UN-backed Net-Zero Banking Alliance on 20 December 2024, following Goldman Sachs out of the coalition it had joined in 2021.
Goldman Sachs Exits UN-Backed Net-Zero Banking Alliance, Citing Regulatory Reporting Burdens
Goldman Sachs quit the NZBA on 6 December 2024, becoming the first major US bank to leave the UN-backed climate coalition, after its asset management arm left Climate Action 100+ in August.
KBC and European Investment Bank Launch EUR 600 Million Sustainability Facility for Belgian SMEs
KBC Group and the EIB have combined to make EUR 600 million available to Belgian SMEs for renewable energy, energy efficiency, water recycling and other climate-related investments.
MCB Group Launches Group Sustainable Finance Framework Under ICMA and LMA Standards
MCB Group has unveiled a group-wide sustainable finance framework, covering 13 green and social categories and reviewed by Sustainalytics.