Four of Canada's biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.

The Federal Reserve has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, a global coalition of central banks engaged in the study of climate risk that was launched in 2017.

Four of Canada’s largest banking institutions, BMO, National Bank, TD Bank Group, and CIBC, have withdrawn from the UN-backed Net-Zero Banking Alliance. Despite their departure, these banks assert that they remain committed to advancing their climate strategies independently.

By Nivedita Balu TORONTO (Reuters) -TD Bank, Bank of Montreal and National Bank of Canada said on Friday they were withdrawing from the Net-Zero Banking Alliance, joining the big-six U.S. banks in quitting the banking sector climate coalition.

Four major Canadian banks and six U.S. banking giants have withdrawn from the Net-Zero Banking Alliance (NZBA), a UN initiative aimed at driving net-zero emissions. The departures began with Goldman Sachs announcement