Japan's SMFG Shifts Strategies by Leaving Net-Zero Banking Alliance

In a surprising move reflective of the changing tide in environmental commitments among major financial institutions, Sumitomo Mitsui Financial Group (SMFG) of Japan has officially announced its exit from the Net-Zero Banking Alliance (NZBA). This decision aligns SMFG more closely with a growing faction of banks that are reevaluating their positions on net-zero emissions pledges amid increasing pressures and economic challenges.

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