Macquarie is quitting the world’s biggest climate banking alliance, becoming the first major Australian financial institution to walk back its commitment since the return of Donald Trump to the White House.
In a brief statement, the financial giant said it would leave the Net Zero Banking Alliance, following major investment banks and lenders in the United States including JPMorgan, Citi and Bank of America.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
