Macquarie’s Bold Move Signals Wall Street’s Growing Disconnect with Climate Finance

Macquarie’s Bold Move Signals Wall Street’s Growing Disconnect with Climate Finance
2 months ago

In a striking shift that could reshape the landscape of climate finance, Macquarie Group Ltd., the renowned Australian investment bank, has decided to withdraw from a prestigious consortium known as the “Banking Climate Club.” This elite coalition, originally established to steer financial practices toward more sustainable and environmentally friendly goals, has seen its membership dwindle as several major Wall Street firms have opted to exit in recent months.

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Wall Street’s Climate Club: RBC and BMO's Potential Exit Sparks Concerns

Wall Street’s Climate Club: RBC and BMO's Potential Exit Sparks Concerns
4 months ago

Recent reports suggest that major Canadian banks, Royal Bank of Canada (RBC) and Bank of Montreal (BMO), might be contemplating a withdrawal from the exclusive group of financial institutions known as the "climate club." This movement comes amid growing concerns regarding the sustainability and practicality of the stringent climate commitments that have been set forth by these financial powerhouses in alignment with global climate initiatives.

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