Canada’s six largest banks – BMO, CIBC, National Bank of Canada, RBC, Scotiabank, and TD – jointly announced that they are signing on to the Net-Zero Banking Alliance, placing Canada’s financial sector in the center of the multinational movement to promote and advance global climate goals through lending and investing activities.
Our Purpose driven commitment for a sustainable future includes an ambition to be our clients’ lead partner in the transition to a net zero world. That’s why we’re joining the United Nations-convened Net Zero Banking Alliance (NZBA). Learn more here. https://t.co/b3HNMxl2aK— BMO (@BMO) October 15, 2021
The Net Zero Banking Alliance was launched in April 2021, with a group of banks committing to align operational and attributable emissions from their portfolios with pathways to net-zero by 2050 or sooner. The alliance has already grown to over 70 banks from 34 countries representing more than $47 trillion in assets, more than a quarter of global banking assets. The coalition forms part of the Glasgow Financial Alliance for Net Zero (GFANZ), along with the Net Zero Asset Managers Initiative, the Net-Zero Asset Owner Alliance and the Net Zero Financial Service Providers Alliance.