U.S. lenders have been rushing in recent weeks to leave one of the world's top banking sector climate coalitions, drawing scorn from campaigners who worry the industry is losing resolve to take action on fossil fuels.

Some of the biggest lenders in the US are beating a retreat from a UN-backed bank climate group in the final weeks before a new Trump administration prepares to take office. The latest big bank to announce it was leaving the Net Zero Banking Alliance (NZBA) is Morgan Stanley (MS),

Morgan Stanley is the latest to leave the Net-Zero Banking Alliance, against a backdrop of growing backlash to environmental, social and governance measures