Market
Financial Institution Facing Most Political Backlash Over Climate in 2025?
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NZBA•Citigroup•Bank of America•Morgan Stanley•Wells Fargo•Goldman Sachs•Republican•Net Zero Asset Managers
Resolution / Starting Odds
JPMorgan Chase • 25%
BlackRock • 25%
Goldman Sachs • 25%
Other • 25%
Analysis of media coverage and political statements
Story
JPMorgan Chase Joins U.S. Banks in Exiting Net-Zero Alliance, BlackRock Also Withdraws from Climate Group
Jan 9, 2025, 07:49 PM
JPMorgan Chase & Co. has become the latest major U.S. bank to exit the Net-Zero Banking Alliance (NZBA), a UN-backed coalition aimed at aligning the banking sector's activities with achieving net-zero greenhouse gas emissions by 2050. This move follows the recent departures of Citigroup, Bank of America, Morgan Stanley, Wells Fargo, and Goldman Sachs from the alliance, leaving no large U.S. banks remaining in the group. The exits are attributed to pressure from Republican politicians who have criticized such climate initiatives as 'woke capital' and raised concerns about antitrust violations. Additionally, BlackRock Inc., the world's largest asset manager, has announced its withdrawal from the Net Zero Asset Managers initiative (NZAMI), citing similar legal inquiries and political backlash. These developments signal a broader retreat from climate-focused financial commitments among major U.S. financial institutions.
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Similar markets
Insurance • 25%
Other • 25%
Asset Management • 25%
Banking • 25%
Unclear • 25%
Increased focus • 25%
Decreased focus • 25%
Remain the same • 25%
Bank of Japan • 25%
European Central Bank • 25%
Bank of England • 25%
Other • 25%
Other • 25%
Citigroup • 25%
Bank of America • 25%
JPMorgan Chase • 25%
Increased independence • 25%
Status quo maintained • 25%
Further withdrawal from climate initiatives • 25%
Reversal of NGFS exit • 25%
No significant policy shift • 25%
Rejoin NGFS • 25%
Launch new coalition • 25%
Enhance internal climate risk measures • 25%
More Aggressive • 25%
Less Aggressive • 25%
Other • 25%
No Change • 25%
No new climate-related policies • 25%
Introduce new climate risk regulations • 25%
Rejoin NGFS • 25%
Other climate-related initiative • 25%
Other • 25%
United Nations • 25%
European Union • 25%
China • 25%