London | Pension fund Cbus and Austrian pensions firm Bundespensionskasse have become the first institutions to leave a financial alliance on tackling climate change spearheaded by former Bank Of England governor Mark Carney.

Australia’s Cbus left the Net Zero Asset Owner Alliance recently to focus on “internal climate change activities”, while Bundespensionskasse exited the Paris Aligned Asset Owners group last month. The coalitions form part of the Glasgow Financial Alliance for Net Zero (GFANZ) launched with much fanfare last year.

Bloomberg