27 Feb 2030 CLIMATE GOALS RECONSIDERED AS BANKS EXIT NZBA; CONTROLLING THE NARRATIVE
2030 CLIMATE GOALS RECONSIDERED AS BANKS EXIT NZBA
The largest climate-finance group for banks, Net-Zero Banking Alliance (NZBA), is exploring a list of fundamental adjustments to how it operates with a potential overhaul of its membership terms that may include abandoning a requirement for signatories to align their portfolios with a goal of limiting global warming to 1.5C, according to Bloomberg.
The review follows a slew of high profile exits from North American banks such as Goldman Sachs Group Inc and JPMorgan Chase & Co since US President Donald Trump took office.
Earlier this month, Australian Financial Review reported that Macquarie Bank was the first major Australian financial institution to pull out of the bank-led and United Nations-convened global climate initiative.
CONTROLLING THE NARRATIVE
This week, the Trump administration announced it would begin selecting which media outlets could engage in the presidential press pool, a shift The New York Times describes as breaking decades of precedent.
This decision seems to be part of a wider strategy to control the narrative around President Trump and redefine the press’s role in reporting on presidential activities.
The pool of reporters has historically been determined by the White House Correspondents’ Association (WHCA), which strongly opposes the move, stating it “tears at the independence of a free press”. What’s next?
BREWING UP A MORE EFFICIENT STARBUCKS
Starbucks has been struggling to maintain its relevance, and new CEO Brian Niccol attributes this to the company’s corporate model being too complex, according to the Financial Times.
This comes with dwindling foot traffic and sales, seeing same store sales dropping 4 per cent as of December 2024. To combat this, Niccol has been brewing up ways to boost the global coffee chain’s success and revamp its corporate culture.
The solution? In January, Niccol announced 1,100 corporate redundancies in an effort for Starbucks to ‘operate more efficiently’. To respect privacy, corporate employees are being asked to work remotely this week as job cuts are put into effect.
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