Banks retreat from climate change commitments – but it’s business more than politics
- Written by David L Levy, Professor Emeritus of Management, UMass Boston
The oil – and fossil fuel financing – continues to profitably flow.AP Photo/Gary KazanjianAnother business-led effort to fight climate change is unraveling.
On Aug. 27, 2025, the Net-Zero Banking Alliance suspended its activities after several major U.S. and European banks backed out.
While most observers are blaming the strong...
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