Overview

• NZBA said remaining signatories are voting on converting the alliance into a new “framework initiative” that would provide guidance rather than rely on formal membership.
• The coalition has paused its activities during the ballot, with the vote scheduled to conclude and results expected by the end of September.
• A wave of departures includes Goldman Sachs, JPMorgan, Citigroup, Bank of America, Morgan Stanley, Wells Fargo, Royal Bank of Canada, Bank of Montreal, Toronto‑Dominion Bank, HSBC, and Barclays, leaving no North American members.
• Reporting links the exodus to Republican pressure following President Donald Trump’s election and the renewed U.S. withdrawal from the Paris Agreement, prompting concern from environmental advocates.
• The steering group says the model is intended to help banks stay resilient and advance real‑economy transition goals, while figures such as Standard Chartered’s Bill Winters have criticized peers for abandoning their commitments.