It all seemed so unstoppable in April 2021 when a group of the world’s banks, under the guidance of former Bank of England governor turned UN envoy for climate action and finance Mark Carney, announced the creation of the Net Zero Banking Alliance. Founding members, which included Citibank and Bank of America, agreed to reconfigure their lending and investment portfolios ‘to align with pathways to net zero by 2050 or sooner’.
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