With authorities declaring 2024 the hottest on record and climate changes worsening, we see banks and asset managers abandoning climate commitments in response to political shifts.
As the populist right grows stronger globally, their anti-net zero rhetoric directly impacts institutional commitments, highlighted by BlackRock's decision to sever ties with GFANZ.
The Glasgow Financial Alliance for Net Zero's backtracking on requirements reflects the chilling effect of political changes on global concerted efforts to combat climate change.
The timing of these withdrawals from climate alliances, coinciding with extreme weather events, underscores the dire consequences of political attacks on climate objectives.
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