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Banks Face New Zealand Anti-Cartel Probe Over Climate Targets

Bloomberg · last updated

New Zealand’s competition regulator is investigating whether membership of the Net-Zero Banking Alliance, the global lending sector’s main climate group, is in breach of local anti-cartel laws.

The Commerce Commission is examining concerns raised about the impact of climate targets, including commitments required by the NZBA, on the nation’s banks, the agency said Thursday in a statement.

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