Jan 31 (Reuters) - Royal Bank of Canada ( RY ) is

exiting the banking industry's largest climate-finance alliance

after a similar move by domestic peers Toronto-Dominion Bank ( MLWIQXX )

and Bank of Montreal ( BERZ ), a spokesperson for the

lender said on Friday.

The Net-Zero Banking Alliance, a UN-sponsored initiative

set up by former Bank of Canada Governor Mark Carney, was

launched in 2021 to encourage financial institutions to limit

the effects of climate change and push toward achieving net-zero

emissions.

The departures from the alliance began with Goldman

Sachs' ( GS ) announcement on Dec. 6.