Sierra Club Responds To U.S. Banks' Threats To Leave Global Net-Zero Alliance
September 23, 2022
September 23, 2022
WASHINGTON, Sept. 23 (TNStalk) -- The Sierra Club issued the following statement on Sept. 21, 2022:
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Media outlets reported today that major US banks including JPMorgan Chase, Bank of America, and Morgan Stanley are threatening to leave the Glasgow Financial Alliance for Net Zero (GFANZ) over concerns that updated criteria around financing of new fossil fuel projects may make the banks vulnerable to legal challenges from fossil fuel-aligned politicians.
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Media outlets reported today that major US banks including JPMorgan Chase, Bank of America, and Morgan Stanley are threatening to leave the Glasgow Financial Alliance for Net Zero (GFANZ) over concerns that updated criteria around financing of new fossil fuel projects may make the banks vulnerable to legal challenges from fossil fuel-aligned politicians.