Four of Canada's biggest banks have left the UN-backed Net-Zero Banking Alliance, an initiative led by former Bank of Canada governor and now contender for Liberal leader Mark Carney that aims to accelerate climate action among financial institutions.

Four of Canada’s biggest banks have left the UN-backed Net-Zero Banking Alliance that aims to accelerate climate action among financial institutions. Banks including BMO, National Bank, TD Bank Group and CIBC confirmed Friday they were no longer members.

Despite leaving the Net Zero Banking Alliance, bank says its commitment to climate targets and decarbonization remains

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By Nivedita Balu TORONTO (Reuters) -TD Bank, Bank of Montreal and National Bank of Canada said on Friday they were withdrawing from the Net-Zero Banking Alliance, joining the big-six U.S. banks in quitting the banking sector climate coalition.