TORONTO, April 29 (Reuters) - Canada's Royal Bank of

Canada ( RY ) will abandon its sustainable finance goals as

industry practices for measuring and reporting sustainable

finance have evolved, it said on Tuesday.

"We have reviewed our methodology and have concluded that it

may not have appropriately measured certain of our sustainable

finance activities as presented on a cumulative basis," Canada's

biggest lender said in its 2024 sustainability report published

on Tuesday.

"We are considering potential changes to our overall

approach to sustainable finance, including our Sustainable

Finance Framework," the bank said.

It said last year's changes to Canada's Competition Act

limited banks from sharing certain sustainability disclosures

and the progress being made.

RBC and other big banks have quit the Net-Zero Banking

Alliance, a United Nations-sponsored initiative set up by Mark

Carney, who won an election on Monday and will stay on as

Canada's Prime Minister.

Campaigners worry banks are seizing on a shift in the

political climate, particularly under U.S. President Donald

Trump, to dilute commitments to act quickly on decarbonising

their portfolios.