The Globe and Mail reports in its Friday edition that several major U.S. banks have quit a global alliance to fight climate change, as opposition to environmental, social and governance measures is expected to grow with Donald Trump's return to the White House. The Globe's Jeffrey Jones writes that Morgan Stanley is the latest to leave the Net-Zero Banking Alliance (NZBA), which was formed in 2021 to marshal hundreds of billions of dollars required over the next 25 years to slash greenhouse-gas emissions and shift to a low-carbon economy. It followed the exit over the past month of Bank of America, Citigroup, Wells Fargo and Goldman Sachs from the organization, which is a subgroup of the Glasgow Financial Alliance for Net Zero, known as GFANZ. Former Bank of Canada and Bank of England governor Mark Carney and billionaire Michael Bloomberg are co-chairs of GFANZ. Morgan Stanley did not provide a reason for its exit from NZBA, though it has made the move against a backdrop of growing backlash to ESG and threats of antitrust action among Republican politicians at the federal and state levels. A Morgan Stanley spokeswoman said in a statement that the bank remains committed to achieving its net-zero goals.