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Nomura Exits Bank Climate Group, Joining Wall Street-Led Exodus

Bloomberg · last updated

Nomura Holdings Inc. is leaving the banking industry’s largest climate alliance, joining Japanese peer Sumitomo Mitsui Financial Group Inc. as an exodus started by Wall Street heavyweights goes global.

Nomura is withdrawing from the Net-Zero Banking Alliance due to the emerging risk of litigation under the Trump administration, which is less supportive of decarbonization, a spokesperson for the lender said on Wednesday. That leaves Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. as the two remaining Japanese megabanks in the alliance, which has roughly 130 signatories globally.

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