Nomura Holdings Inc said Wednesday it has withdrawn from a global climate coalition for banks, becoming the second Japanese financial institution to do so after climate-skeptic U.S. President Donald Trump returned to office.
The decision to withdraw from the U.N.-backed Net Zero Banking Alliance follows Sumitomo Mitsui Financial Group Inc.'s announcement last week that it had also left the global coalition. Members of the group are committed to aligning their lending, investment and capital markets activities with net-zero greenhouse gas emissions by 2050.
Nomura Holdings said it had withdrawn to "take appropriate policies in respective countries and regions," adding that it remains committed to its goal of increasing funds to address environmental and social issues to $125 billion by March 2026.
Major U.S. financial institutions, including Goldman Sachs Group Inc, have reportedly withdrawn from the alliance, which comprises more than 130 financial institutions from 44 countries.
From Japan, four signatories remain, including Mitsubishi UFJ Financial Group Inc and Mizuho Financial Group Inc, according to the alliance's website.
© KYODO
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HopeSpringsEternal
ESG = Con Game that's dying FAST
virusrex
Any actual evidence of this? or is it that you think the one percenters no longer being pressured to act according to the actual global benefit makes the science wrong?
In which other situation you can think bankers acting prioritizing their profits result in what is best for people in general?
HopeSpringsEternal
Markets requiring massive Govt subsidies to 'compete' are inherently corrupt and none more so than ESG!
virusrex
So, you could not find any example of billionaires opposing measures for profit that ended up being beneficial for the public in general. Yet you think that in this case this is what is happening for sure because you trust more the billionaires than the scientists... That should be clear enough.
Cephus
The problem with ESG, rather than guilde societies in solving problems it was turned into a religion by climate change fanatics.
HopeSpringsEternal
LOTS of great environmental solutions in marketplaces across globe, but they're not attached to ESG $maniac policies but rather by their merits in the marketplace.
For example, Norway's High new EV sales penetration
robert maes
Good. Completely useless
virusrex
More like the opposite, ESG were turned into a devil by science denialists that refuse under any circumstance to accept the reality of climate change and its consequences.
Yet you have never provided a cost/benefit analysis to confirm these "great" solutions can actually be more productive.
According to whom? Oil companies, big polluters?