A global banking group that Prime Minister Mark Carney helped launch in 2021 to fight climate change has voted to shut down.

A spokesperson for the UN-backed Net-Zero Banking Alliance says members voted to end the membership-based structure and instead use the climate guidance the group created as a reference.

As a result of the vote, the alliance is ending operations immediately.

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Carney helped establish the group in his role as UN Special Envoy for Climate Action and Finance in the lead-up to the UN climate conference in Glasgow in 2021.

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