TOKYO/LONDON -- Japan's Sumitomo Mitsui Financial Group is pulling out of an international decarbonization framework for financial institutions, Nikkei has learned, as lawmakers in U.S. criticize the financial industry's joint carbon-cutting initiative and threaten legal action to halt it in response to pressure from the administration of President Donald Trump.
Climate Change
Japan's SMFG to pull out of global decarbonization framework
Banking alliance membership poses legal risk in U.S. under Trump
Sumitomo Mitsui Financial Group will withdraw from an international carbon-cutting framework set up by financial institutions in response to U.S. legal pressure. (Photo by Wakako Iguchi)
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