City joins Net-Zero Banking Alliance

City Bank has recently joined Net-Zero Banking Alliance, a platform of banks worldwide representing almost 40 per cent of global banking assets and committed to align lending and investment portfolios with net-zero emissions by 2050.

The alliance is convened by the United Nations Environment Programme Finance Initiative, said a press release.

The alliance has over 100 members from 40 countries and recognises the role of banks in supporting the global transition of the real economy to a low-carbon, sustainable, and inclusive economy.