MUFG to Quit Climate Group as Japanese Banks Join Wall St. Exits

Bloomberg · last updated March 17, 2025 – 8:38 PM

Mitsubishi UFJ Financial Group Inc. plans to leave the banking industry’s largest climate alliance, joining domestic peers in walking away from a group abandoned by US and Canadian heavyweights.

Japan’s biggest lender is withdrawing from the Net-Zero Banking Alliance, according to people familiar with the matter, who asked not to be named discussing a sensitive matter. An MUFG spokesperson said the bank has yet to come to a decision, and will continue to work diligently on addressing climate change.

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