StanChart CEO Calls Out Rivals for Net Zero Retreats
The CEO of Standard Chartered spoke out about the retreats by competitors in climate finance amid a mass exodus from the Net-Zero Banking Alliance.
Bill Winters, CEO of Standard Chartered which remains a member of the Net-Zero Banking Alliance (NZBA), criticized the financial industry for walking back on net-zero emission commitments.
«Shame on them,» he said during a media call after the bank released its interim results.
Client Demand
According to Winters, there continues to be interest from clients to engage the bank in related solutions. He said that focus from Asia and the Middle East on net-zero transitions to a low-carbon economy remains steady, while there continues to be «strong business» in Europe and even the US.
«Most of our clients in most of our markets haven’t backed away at all,» Winters said.
Top banks across the world, including in the US, Canada, Australia and Japan, have decided to shed their NZBA membership since an American policy shift under President Donald Trump. One of the latest exits was made by Asia-focused UK rival HSBC, marking the first UK lender to quit.
