NZBA takes a great leap backward

The Net Zero Banking Alliance (NZBA) has voted to convert mandatory requirements for reducing client emissions into "best practice" guidance, removing the requirement for banks to set targets aligned with the 1.5°C warming limit and the 2050 net zero goal.

• The 129 member banks of the NZBA voted to change mandatory requirements for reducing client emissions into "best practice" guidance, effectively removing the obligation to align targets with the 1.5°C warming limit and the 2050 net zero goal.
• The previous mandatory goals have been replaced by a recommendation that targets align with "well below 2°C, aiming for 1.5°C," and banks may now choose their own target year for achieving carbon neutrality.

APA

Martin, L. (2025). NZBA takes a great leap backward. Reclaim Finance. https://reclaimfinance.org/site/en/2025/04/15/nzba-takes-a-great-leap-backward/

Chicago

Martin, Léo. NZBA takes a great leap backward. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/04/15/nzba-takes-a-great-leap-backward/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=NZBA takes a great leap backward |publisher=Reclaim Finance |date=15 April 2025 |url=https://reclaimfinance.org/site/en/2025/04/15/nzba-takes-a-great-leap-backward/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2025nzba, author = {Martin, Léo}, title = {{NZBA takes a great leap backward}}, publisher = {Reclaim Finance}, year = {2025}, month = apr, url = {https://reclaimfinance.org/site/en/2025/04/15/nzba-takes-a-great-leap-backward/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }