This past week has seen five of Canada’s largest banks announcing their withdrawal from the Net-Zero Banking Alliance (NZBA), a global initiative aligning the global banking sector with net-zero greenhouse gas emissions targets by 2050. The banks involved are: BMO (Bank of Montreal), National Bank of Canada, TD Bank Group,
Canadian banks withdraw from UN-backed climate initiative, will Europe follow?
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European banks are reported to be reconsidering their alliance with the Net Zero Banking Alliance as President Trump rescinds ESG Executive Orders and Memoranda.