You might have heard about Morgan Stanley's recent exit from the UN-backed Net-Zero Banking Alliance. They're not alone, with big names like Goldman Sachs and Bank of America also taking a step back. So, what's the deal? Critics are pointing fingers at conservative groups who aren't fans of environmental and diversity programs. But Morgan Stanley promises to reduce greenhouse gas emissions by 2050, even without being part of the alliance. The question is, will voluntary promises be enough? Some people think stricter rules are needed.
Even companies like Nissan are feeling the heat, scaling back on diversity efforts due to conservative pressure. But not all banks are going the same way. Some are switching their focus to other climate projects, like the Glasgow Financial Alliance for Net Zero. It's a bit like choosing a different route to reach the same destination.
