The European Union has warned that a decision by US President Donald Trump to withdraw from the Paris Agreement on climate change could have a "serious blow" on global efforts to combat the issue. This warning comes as several major financial institutions, including Citigroup and Bank of America, have exited a global climate-banking alliance. In contrast, Sembcorp has made its debut on the Dow Jones Sustainability Asia Pacific Index, highlighting the growing importance of sustainability in business practices.
https://www.businesstimes.com.sg/esg/eu-warns-serious-blow-trump-climate-changeUS banks Citigroup and Bank of America have announced their exit from the Net-Zero Banking Alliance, a group of global banks committed to reducing greenhouse gas emissions. This move follows similar decisions by Wells Fargo and Goldman Sachs earlier this month. The NZBA was established to promote sustainable banking practices and reduce carbon footprint in the financial industry.
https://www.manilatimes.net/2025/01/02/business/foreign-business/citigroup-bofa-exiting-nzba/2029080