Barclays is the latest bank to quit the Net-Zero Banking Alliance, following HSBC out od the door within weeks.

Barclays said that: “After consideration, we have decided to withdraw from the Net-Zero Banking Alliance. With the departure of most of the global banks, the organisation no longer has the membership to support our transition.”

Ouch!

Whilst the bank says that it is committed to be a net-zero bank by 2050, and has a target to mobilise $1tr of sustainable financing, Jeanne Martin, co-director of corporate engagement at ShareAction, said: "The announcement comes just three days after Barclays published a transition update reiterating its commitment to be a net-zero bank by 2050, sending mixed signals to governments and companies around the world.”

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