The beginning of the year is a chance for a fresh start: to shed bad habits, make good on New Year’s resolutions, and turn over a new page. Some of the world’s biggest banks, accordingly, rang in 2025 by announcing their departure from the Net-Zero Banking Alliance (NZBA). Citibank, Bank of America and Morgan Stanley all announced this week that they’re leaving the coalition, which seeks to align banks’ financing activities behind the goal of reaching net-zero emissions by 2050. Wells Fargo and