Two of Japan’s leading lenders have become the latest to exit the Net-Zero Banking Alliance, following in the footsteps of western rivals.
Nomura is leaving the Net-Zero Banking Alliance (NZBA), according to a «Bloomberg» report citing a statement from a spokesperson.
«[W]e continue to tailor our approach to decarbonization to the evolving rules and economic backdrop in different regions and countries in which we operate,» the spokesperson said, adding that the bank remains committed to its target set four years ago to deploy $125 billion of sustainable financing to March 2026.
Earlier this month, Japanese rival Sumitomo Mitsui Financial Group also announced its departure from NZBA. Numerous major banks across the US, Canada and Australia have decided to exit the alliance since an American policy shift under Donald Trump with a withdrawal from the Paris Agreement, support for the fossil fuel industry and reversal of climate policies.
