NZBA updates guidelines amid flurry of high-profile exits

The Net-Zero Banking Alliance NZBA has updated its terms and conditions amid a flurry of high-profile exits from the global group, including Macquarie, Mizuho Financial Group, Nomura and JP Morgan.

The NZBA has recently updated its guidelines and recommendations for Guidelines for Climate Target Setting for Banks. There is more of a focus on following local rules and regulations moving forward, and include banks' capital market activities.  

The NZBA said the shift reflects the flexibility needed by its diverse membership of 140 plus banks which vary across region, size, business model, geography, and transition stage, and recognises that many members are subject...