UBS has officially withdrawn from the United Nations-backed Net-Zero Banking Alliance (NZBA), following an annual review of its climate-related memberships.
The Swiss giant, a founding NZBA member in 2021, joins a growing list of major banks – including HSBC, JP Morgan, and Barclays – that have recently stepped back from the group.
In a statement, UBS acknowledged the alliance’s early value in helping establish climate targets but said it has since developed sufficient in-house expertise to pursue its sustainability goals independently.
