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

US banks have already pulled out of NZBA, the UN environment programme’s finance initiativeBarclays has become the second UK bank to withdraw from a UN-backed net zero target-setting group, claiming that a wave of defections by international lenders meant it was no longer fit for purpose.It marks a fresh blow for the Net-Zero Banking Alliance (NZBA), after HSBC left in early July. It came months after a wave of exits by US banks, which departed in the run-up to Donald Trump’s inauguration in January. Continue reading...

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