Nomura withdraws from Net-Zero Banking Alliance

MUFG and Mizuho remains signatories.

Japan’s Nomura Holdings is withdrawing from the Net-Zero Banking Alliance (NZBA), a company spokesperson said on 12 March 2025.

It joins Japanese megabank Sumitomo Mitsui Financial Group in an exodus started by Wall Street heavyweights.

The spokesperson said that they “continue to tailor our approach to decarbonisation to the evolving rules and economic backdrop in different regions and countries in which we operate.”

Mitsubishi UFJ Financial Group and Mizuho Financial Group as the two remaining Japanese megabanks in the alliance, which has roughly 130 signatories globally.

NZBA’s remaining banks will vote on a revised strategy over the next few weeks. This include possibly removing a requirement for signatories to align their portfolios with a goal of limiting global warming to 1.5 degrees Celsius.

Here’s more from Bloomberg: