Wall Street Blames Putin’s War, GOP as Banks Debate CO2 Goal (1)

War and the increase in anti-ESG sentiment in the US are part of a new and “complex” set of hurdles making it much harder for Wall Street to meet the climate promises it’s made, according to the chair of the Net-Zero Banking Alliance.

“When you look at the environment around decarbonization and fossil fuels, the situation is more complex than it was even versus 2021,” Tracey McDermott, who aside from chairing NZBA is group head of conduct, financial crime and compliance at Standard Chartered Plc, said in an interview.

Russia’s unprovoked attack on Ukraine, the energy crisis and ...