By Nivedita Balu TORONTO (Reuters) -TD Bank, Bank of Montreal and National Bank of Canada said on Friday they were withdrawing from the Net-Zero Banking Alliance, joining the big-six U.S. banks in quitting the banking sector climate coalition.

Bank of Montreal has withdrawn from the UN-backed Net-Zero Banking Alliance that aims to accelerate climate action among financial institutions. It becomes the first Canadian bank to pull out of the alliance, but follows on withdrawals by major U.S. banks ahead of the presidential inauguration of Donald Trump.

Bank of Montreal has become the first Canadian bank to exit the Net-Zero Banking Alliance, amid political pressure. This move follows similar actions by U.S. banks like Goldman Sachs and JPMorgan. BMO remains committed to climate goals,

Four of Canada's biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.The departures from the Net-Zero Banking Alliance began with Goldman Sachs' announcement on Dec.

The Bank of Montreal has become the first Canadian bank to withdraw from the Net-Zero Banking Alliance, which aims to align lending, investment and capital markets activity with net-zero greenhouse gas emissions by 2050.

TORONTO — Bank of Montreal has withdrawn from the UN-backed Net-Zero Banking Alliance that aims to accelerate climate action among financial institutions.