First Australian Bank Exits the UN’s Net Zero Banking Alliance

Australia’s ‘Big Four’ are still members of the group.

A general view of a Macquarie Group building in Sydney, Australia, on Oct. 28, 2016. AAP Image/Dan Himbrechts

A global financial services provider based in Australia has announced it is parting ways with the United Nations-backed Net Zero Banking Alliance (NZBA).

Macquarie Group is the latest financial institution to withdraw from the body following in the footsteps of Goldman Sachs, Morgan Stanley, JP Morgan Chase, Franklin Templeton, Standard Chartered, and HSBC.