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Banks retreat from climate change commitments – but it’s business more than politics

  • Written by David L Levy, Professor Emeritus of Management, UMass Boston
Banks retreat from climate change commitments – but it’s business more than politicsThe oil – and fossil fuel financing – continues to profitably flow.AP Photo/Gary Kazanjian

Another 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...

Read more: Banks retreat from climate change commitments – but it’s business more than politics

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