Sumitomo Mitsui to leave global decarbonization group

TOKYO, Mar 06 (NHK) - Japan's Sumitomo Mitsui Financial Group says it will leave an international group that fights climate change. It is the first Japanese company to do so.

Some US financial giants have also left as President Donald Trump has sought shifts in climate change policy.

Sumitomo Mitsui informed the Net-Zero Banking Alliance on Tuesday. The Japanese firm's two main rivals remain in the alliance among the five Japanese firms still participating.

Sumitomo Mitsui has operations in the US. The company says its decision is based on consideration of broad factors, including overseas trends.

But it adds that climate change is an important challenge. It says it will continue with its efforts to tackle the issue.

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