The “climate agenda” is going out of fashion, does the absence of a “Santa Claus rally” mean a possible failure and throughout 2025, the market is talking again about the IPO of the English bank Shawbrook. Read about these and other topics in the review of world media for January 4.
Wall Street banks quit climate alliance
On the eve of Donald Trump’s inauguration as US president, America’s largest lenders are pulling out of Net-Zero (NZBA), a UN-backed banking coalition on climate change. In December, Citigroup, Bank of America, Wells Fargo and Goldman Sachs all left the alliance. And on Thursday, Morgan Stanley announced it was leaving Net-Zero. However, some banks, including Morgan Stanley, said this did not mean abandoning their climate goals.
The NZBA was created in 2021, and many banks actively advertised their membership in the alliance, as the financial sector’s “climate” commitments were a priority for Wall Street. However, now – after the strengthening of the Republican Party’s position – the “climate agenda” is being criticized in the US, writes Yahoo Finance . Thus, the head of the House of Representatives’ Committee on Justice, Jim Jordan, called such alliances a “climate cartel” that promotes investments only in certain sectors of the economy.
The U.S. withdrew from the Paris climate agreement in 2017 during Donald Trump’s first term and rejoined it in 2021 under President Biden. During the 2024 presidential campaign, Politico reported that Trump intended to pull the country out of the Paris agreement again.
https://kz.kursiv.media/2025-01-05/lksn-1-4jan/
