ESG & Investing
Canadian Banks Quit Climate Group, as Industry Exodus Picks Up
- Four lenders, including BMO and TD, opt to part ways with NZBA
- The banks say they’re still committed to climate strategies
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Four of Canada’s biggest banks are leaving the industry’s top climate-finance alliance, joining Wall Street peers and extending an exodus that started in early December.
Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Montreal and National Bank of Canada said Friday that they’re no longer members of the Net-Zero Banking Alliance. All four added that they’re still committed to meeting climate-related targets.