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LUNGILE MASHELE: Banks change stance as Trump changes global energy trajectory

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US lenders exit the Net-Zero Banking Alliance, which does not bode well for climate targets and investments

09 January 2025 – 05:00

by Lungile Mashele

“Drill, baby, drill”. These words, uttered numerous times by incoming US president Donald Trump while on the campaign trail, have heralded yet another global energy shift.

In November, at a campaign rally in North Carolina, Trump gave a stern warning to Robert F Kennedy Jnr, a staunch environmentalist in the Republican Party who is poised to take a prominent role in the White House, saying “you can’t touch our liquid gold. Don’t touch the oil and gas. Let me handle that.”..

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