Scotiabank joins Wall Street-led exit of bankers’ climate club

Scotiabank and other lenders that quit the group all said the decision won’t affect their commitment to decarbonising their business. — Bloomberg

TORONTO: Bank of Nova Scotia is the latest major bank to walk away from the industry’s biggest climate-finance alliance, following a mass exodus led by Wall Street.

The lender confirmed Monday it left the Net-Zero Banking Alliance (NZBA), news that comes after Toronto-Dominion Bank, Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC) and National Bank of Canada all said lasy Friday they were leaving the NZBA.