The Globe and Mail reports in its Saturday edition that almost exactly four years after Prime Minister Mark Carney convinced Canada's banks to join a global alliance committed to net-zero emissions related to their lending, the organization is shutting down. The Globe's Jameson Berkow writes that the Net-Zero Banking Alliance, or 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 the alliance's largest American members to abandon the group in late 2024. All of Canada's largest lenders also bailed earlier this year. When the alliance was first established ahead of the 26th UN Climate Change Conference of the Parties, or COP26, Vancouver City Savings Credit Union was the sole Canadian member of the group. RBC, TD, Scotiabank, BMO, CIBC and National Bank jointly announced plans to join the group in October, 2021. The alliance went on to publish more than a dozen reports that helped almost 150 banks around the world develop climate-related business strategies and set more than 500 sectoral net-zero targets.