JPMorgan considering exiting UN-backed climate alliance for banks, WSJ reports

JPMorgan (JPM) the only major U.S. bank left in the United Nations-backed Net-Zero Banking Alliance, is considering withdrawing from it, The Wall Street Journal’s Gina Heeb reports. Morgan Stanley (MS), Citi (C), and Bank of America (BAC) this week withdrew from the climate coalition designed to help drive a shift to reduce carbon emissions by businesses following withdrawals over the past month by Wells Fargo (WFC) and Goldman Sachs (GS). A JPMorgan spokeswoman said “the bank regularly evaluates memberships” to ensure they further its “client and business interests.”