J.P. Morgan joins other banks in leaving NZBA (2025)

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January 14, 2025

J.P. Morgan announced last week that it is leaving the Net-Zero Banking Alliance (NZBA), joining three other major U.S. banks that have made similar announcements in 2025.

J.P. Morgan is the largest bank in the world by deposits. Its decision to leave NZBA—following similar decisions by Morgan Stanley, Citigroup, and Bank of America last week (and Goldman Sachs and Wells Fargo previously)—leaves the alliance without any of the largest American banks among its members.

According to ESG Today:

“

JPMorganChase has chosen to exit the Net-Zero Banking Alliance, ESG Today has confirmed, marking the latest in a rapid-fire series of departures from the UN-backed coalition of banks dedicated to advancing global net zero goals through their financing activities. … Following the departure of JPMorgan, the only remaining U.S. banks listed on the NZBA website are Amalgamated Bank, Areti Bank, and Climate First Bank. … The bank’s statement added that the firm plans to continue engaging with GFANZ and other groups, 'to advance pragmatic solutions and market conditions that can help further a low-carbon and energy-secure future.'

”

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