Market Chatter: Sumitomo Mitsui Financial Exits Climate Alliance, First Among Japanese Firms

MT Newswires Live03-06

Sumitomo Mitsui Financial Group (TYO:8316) has exited from the Net-Zero Banking Alliance, marking the first exit by a Japanese company, according to NHK World report on Wednesday.

According to the local news portal, some US financial institutions have also withdrawn, aligning with shifts in climate policy under President Donald Trump.

While Sumitomo Mitsui's two major Japanese rivals remain in the alliance, the company states its decision considers various factors, including global trends, the report added.

Despite leaving, Sumitomo Mitsui reaffirms its commitment to addressing climate change, said the local news daily.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (JPY): $3809.00, Change: $+34, Percent Change: +0.90%

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