The departures from the Net-Zero Banking Alliance began with Goldman Sachs' announcement on Dec. 6 and come ahead of Donald Trump's return to the White House next week. Trump has been critical of efforts by governments to prescribe climate-change policies.

By Nivedita Balu TORONTO (Reuters) -TD Bank, Bank of Montreal and National Bank of Canada said on Friday they were withdrawing from the Net-Zero Banking Alliance, joining the big-six U.S. banks in quitting the banking sector climate coalition.

The Federal Reserve has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, a global coalition of central banks engaged in the study of climate risk that was launched in 2017.

Four major Canadian banks and six U.S. banking giants have withdrawn from the Net-Zero Banking Alliance (NZBA), a UN initiative aimed at driving net-zero emissions. The departures began with Goldman Sachs announcement

TORONTO — Bank of Montreal has withdrawn from the UN-backed Net-Zero Banking Alliance that aims to accelerate climate action among financial institutions.