Jan 20 (Reuters) - Bank of Nova Scotia ( BNS ) on
Monday joined some of Canada's biggest lenders to walk away from
a global banking sector climate coalition, a move that followed
the withdrawal led by six major U.S. banks.
The bank's exit from the Net-Zero Banking Alliance follows a
raft of similar announcements on Friday by TD Bank, Bank
of Montreal ( BERZ ), National Bank of Canada ( NTIOF ) and
Canadian Imperial Bank of Commerce ( CM ) .
"We remain committed to delivering our Climate Transition
Plan, and will continue to finance the transition and support
our clients in implementing their sustainability strategies-this
is the most important role that we can play," said a Scotiabank
spokesperson.
The move coincides with Donald Trump's return to the White
House for the second time on Monday. He has been critical of
efforts by governments to prescribe climate-change policies.
So far, the big U.S. banks that have quit the Net-Zero
Banking Alliance initiative are Goldman Sachs ( GS ), Wells
Fargo ( WFC ), Citi, Bank of America ( BAC ), Morgan
Stanley ( MS ) and JPMorgan ( JPM ).