Mark Carney makes a keynote address for the 26th UN Climate Change Conference of the Parties, or COP26, in London in February of 2020. Mr. Carney helped establish the Net-Zero Banking Alliance while serving as a UN special envoy on climate action and finance.

Almost exactly four years after Prime Minister Mark Carney convinced Canada’s largest financial institutions to join a global alliance committing them to net-zero emissions related to their lending, the organization is shutting down.

The Net-Zero Banking Alliance (NZBA), which Mr. Carney helped to establish in April, 2021, while serving as a United Nations special envoy on climate action and finance, ceased operations Friday after losing most of its membership. Political pressure from Republican lawmakers in the United States led th

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