The EU’s Environment Council met on 4 November
Letter from Europe: Western retreat raises doubts over climate leadership
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
The UN-backed Net-Zero Banking Alliance (NZBA)—once the flagship coalition of global lenders committed to decarbonising finance—formally ceased operations following a vote by its members on 3 October. The decision marks the end of a major chapter in climate finance that began in 2021 with lofty ambition but ultimately succumbed to political headwinds and dwindling industry participation. Established under the UN Environment Programme Finance Initiative, the alliance at its peak brought together nearly 150 banks representing more than 40% of global banking assets. Members had pledged to align their lending and investment portfolios with a net-zero pathway by 2050. Yet withdrawals accelerated
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
