{"id":347484,"date":"2025-10-06T16:09:20","date_gmt":"2025-10-06T10:39:20","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=347484"},"modified":"2025-10-06T16:09:20","modified_gmt":"2025-10-06T10:39:20","slug":"net-zero-banking-alliance","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/net-zero-banking-alliance\/","title":{"rendered":"Net-Zero Banking Alliance"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>News: <\/strong>Net-Zero Banking Alliance (NZBA) announced that it will cease operation, bringing an end to the UN-supported banking coalition that worked to promote global net-zero goals through its financing activities.<\/p>\n<h2 style=\"text-align: justify\">About <span style=\"font-weight: 400\">Net-Zero Banking Alliance<\/span><\/h2>\n<figure style=\"width: 515px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.unepfi.org\/wordpress\/wp-content\/uploads\/2025\/01\/NZBA-logo-web-header.png?resize=515%2C243&#038;ssl=1\" alt=\"\" width=\"515\" height=\"243\" \/><figcaption class=\"wp-caption-text\">Source: unepfi<\/figcaption><\/figure>\n<ul>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\">It is <strong>bank-led and UN convened alliance<\/strong> of leading global banks committed to <strong>aligning<\/strong> their lending, investment, and capital markets activities with <strong>net-zero greenhouse gas emissions by 2050.\u00a0<\/strong><\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-weight: 400\">It is a<strong> flagship climate initiative<\/strong> under the <strong>Principles for Responsible Banking<\/strong> to <strong>accelerate science-based climate target setting and develop common practice.<\/strong><\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Formed in:<\/strong> 2021<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\">It is a global alliance within the<strong> Glasgow Finance Alliance for Net Zero (GFANZ)<\/strong> and<strong> is open to all banks globally.<\/strong><\/span>\n<ul>\n<li style=\"font-weight: 400\"><strong>No Indian Bank is part of the alliance<\/strong><span style=\"font-weight: 400\"><strong>.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\">It works <strong>to provide a framework, guidance, and peer learning opportunities<\/strong> to support members to design, set, and achieve credible science-based net zero targets for 2030 or sooner.<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Governing body:<\/strong> It involves a<strong> Steering Group and a Chair.\u00a0<\/strong><\/span>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The Steering Group, composed of<strong> representatives from member banks.\u00a0<\/strong><\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">It represents the <strong>alliance\u2019s 144 banks through 14 banks<\/strong> each selected by member banks.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">It is <strong>coordinated and supported by the UNEP FI Secretariat,<\/strong> with the <strong>United Nations also holding a seat<\/strong> on the Steering Group.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400\"><strong>All banks that have signed the commitment will:<\/strong>\n<ul>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Transition the operational and attributable GHG emissions from their lending and investment portfolios<\/strong> to align with pathways to net-zero by 2050 or sooner.<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Within 18 months of joining, set 2030 targets (or sooner) and a 2050 target<\/strong>, with intermediate targets to be set every 5 years from 2030 onwards.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Bank&#8217;s first 2030 targets will focus on priority sectors<\/strong> where the bank can have the most significant impact<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Within 36 months of joining, banks will set a further round of sector-level targets<\/strong> for all or a significant majority of specified carbon-intensive sectors.<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\"><strong>Annually publish emissions data and, within a year of target setting,<\/strong> disclose progress on a board-approved transition strategy and sectoral climate policies.<\/span><\/li>\n<li style=\"font-weight: 400;text-align: justify\"><span style=\"font-weight: 400\">Take a <strong>robust approach to the role of offsets in transition plans.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: Net-Zero Banking Alliance (NZBA) announced that it will cease operation, bringing an end to the UN-supported banking coalition that worked to promote global net-zero goals through its financing activities. About Net-Zero Banking Alliance It is bank-led and UN convened alliance of leading global banks committed to aligning their lending, investment, and capital markets activities&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/net-zero-banking-alliance\/\">Continue reading <span class=\"screen-reader-text\">Net-Zero Banking Alliance<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1236,12039],"tags":[11872,10503],"class_list":["post-347484","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-organisations","category-knolls","tag-9pm-daily-factly","tag-business-standard","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/347484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=347484"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/347484\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=347484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=347484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=347484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}