Norinchukin Bank Exits Major Climate Group, Joining Growing Trend among Japanese Financial Institutions

Norinchukin Bank, a significant player in Japan's financial landscape, has announced its decision to withdraw from the Net Zero Financial Institutions Alliance (NZFIA), a coalition aimed at steering financial institutions towards achieving net-zero carbon emissions by 2050. This announcement marks a notable shift in the banking sector as it highlights a growing trend among Japanese banks to reconsider their commitments to climate change initiatives.

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