Four of Canada’s top banks ditch UN-backed ‘net zero’ climate alliance
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Among the banks that have withdrawn from the UN-backed Net-Zero Banking Alliance are TD Bank, the Bank of Montreal and CIBC.
(LifeSiteNews) –– In a stunning reversal, four of Canada’s top banks have withdrawn themselves from a United Nations “net zero” alliance that supports the eventual elimination of the nation’s oil and gas industry in the name of “climate change.”
Last Friday, Toronto-Dominion Bank (TD), Bank of Montreal (BMO), National Bank of Canada and the Canadian Imperial Bank of Commerce (CIBC) said they were all withdrawing from the Net-Zero Banking Alliance (NZBA), which calls for banks to come in line with the push for “Net Zero” emissions by 2050. The NZBA is a subgroup of the Glasgow Financial Alliance for Net Zero (GFANZ), which was founded and backed by the United Nations.
Interestingly, the GFANZ was formed in 2021, while Liberal Party leadership candidate Mark Carney was its co-chair. He resigned from his role in the alliance right before he announced he would run for Liberal leadership to replace Prime Minister Justin Trudeau last week.
The sudden decision from Canadian banks to ditch the alliance comes despite Trudeau’s government still being committed to so-called “net zero” policies and only a few days before pro-oil and gas U.S. President Donald Trump was sworn into office.