Bank of Nova Scotia on Monday joined some of Canada's biggest lenders to walk away from a global banking sector climate coalition, a move that followed the withdrawal led by six major U.S. banks. The bank's exit from the Net-Zero Banking Alliance follows a raft of similar announcements on Friday by TD Bank,

Scotiabank is the latest major Canadian bank to withdraw from the Net-Zero Banking Alliance. The bank joins BMO, National Bank, TD Bank Group and CIBC in leaving the alliance. The Canadian banks started withdrawing not long after the six largest banks in the U.S. did the same as the presidential inauguration of Donald Trump loomed.