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NZBA to lower climate target and focus on Chinese and Indian banks
In an effort to attract more banks from China and India and prevent further exits, the Net-Zero Banking Alliance will abandon a requirement for banks to align their lending portfolios with 1.5C.
A member of the climate alliance’s steering group confirmed plans to move from a target of 1.5C to the “minimum ambition” of the Paris climate agreement, which means keeping temperatures “well below 2C”, on former MEP Richard Howitt’s Frankly Speaking responsible business podcast, which aired earlier today.
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