by Kevin Stocklin
NTD
A net-zero club for banks is the latest global climate alliance to halt operations after mass departures of its members, but analysts say the departures could be more about avoiding legal action than a fundamental change of heart.
On Aug. 27, having experienced a loss of members—including all six of America’s largest banks—the Net Zero Banking Alliance (NZBA) recommended to the banks that remained that the organization transition from a “membership-based alliance” to a “framework initiative.”
The NZBA said this would entail supporting banks “to remain resilient and accelerate the real economy transition in line with the Paris Agreement.”…
Analysts say the commitments to net-zero may survive the dissolution of the alliances, though members may be less vocal about it.
“What they’re basically doing is rebranding and trying to figure out how they can go about advancing their leftist agenda without attracting the attention of red states and the Trump administration,” Steve Milloy, senior fellow at the Energy and Environment Legal Institute and a longtime critic of corporate activism, told The Epoch Times.
