#ClimateDiary HSBC becomes first UK bank to quit the Net Zero Banking Alliance (NZBA).
HSBC’s decision follows a wave of exits by big US banks - JP Morgan, Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs – after Trump was elected.
HSBC was one of the founding members of the NZBA in 2021. It’s awful how quickly these climate initiatives - barely the minimum of what is.needed anyway- are crumbling.