Big Banks Flee Climate Coalition Formed to Reduce Carbon Emissions
Morgan Stanley Citi group and Bank of America this week withdrew from an ambitious pandemic-era climate coalition designed to help drive a shift to reduce carbon emissions by businesses. JPMorgan Chase the largest bank in the nation by assets and the only major U.S. bank left in the coalition, is also considering withdrawing from it, a person familiar with the matter said. A JPMorgan spokeswoman said “the bank regularly evaluates memberships” to ensure they further its “client and business interests.”