JPMorgan Quits Climate Finance Group, Following Citi, BofA (1)

JPMorgan Chase & Co. just became the last of Wall Street’s biggest banks to abandon the industry’s largest climate-finance alliance.

The No. 1 US bank by assets said in an email on Tuesday that it will no longer be a member of the Net-Zero Banking Alliance.

JPMorgan’s exit marks the latest blow to NZBA. In December alone, the alliance parted ways with Citigroup Inc., Bank of America Corp., Goldman Sachs Group Inc. and Wells Fargo & Co. So far in January, Morgan Stanley has also said it’s quitting the group. Departures have been concentrated in the US, against ...