"Top Canadian banks quit global climate coalition ahead of Trump inauguration", 17 January 2025

" Four of Canada's biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.

The departures from the Net-Zero Banking Alliance began with Goldman Sachs' announcement on Dec. 6 and come ahead of Donald Trump's return to the White House next week.

The four Canadian banks are TD Bank , Bank of Montreal , National Bank of Canada and Canadian Imperial Bank of Commerce (CIBC).

The Canadian banks said in separate statements that they were equipped to work outside the alliance and develop their climate strategies...

"The NZBA was formed at a time when the global industry was scaling up efforts to take action on climate, and served a valuable role in galvanizing these efforts and establishing momentum," CIBC said in a statement.

"As this space has evolved and matured, and having made significant progress alongside our clients in these areas, we are now well-positioned to further this work outside of the formal structure of the NZBA," it said...."