Six of the biggest US banks, including JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo, have committed to becoming carbon-neutral by 2050. To facilitate this transition, the Partnership for Carbon Accounting Financials was formed to develop emissions accounting standards. However, the working group is stuck at a stalemate over the agreed-upon threshold number, leading to delays in releasing the final methodology. Activists and the ShareAction group have also disapproved of the 33% weighting of the IMO's climate-related guidance. To bridge this gap, the Science Based Targets initiative is developing net-zero standards for banks to reduce emissions.