Mitsubishi UFJ Financial Group quit the banking industry¡¯s largest climate alliance, joining domestic peers in walking away from a group abandoned by U.S. and Canadian heavyweights.

Japan¡¯s biggest lender has withdrawn from the Net-Zero Banking Alliance (NZBA), a spokesperson said Wednesday, confirming an earlier Bloomberg News report. MUFG will continue to work diligently on addressing climate change, the bank said.

MUFG follows Tokyo-based rivals Nomura Holdings and Sumitomo Mitsui Financial Group in leaving the climate group. The latest exits have emerged after a wave of NZBA defections since December by the largest banks in the U.S. and Canada, including JPMorgan Chase & Co., Bank of America and Royal Bank of Canada.

Since U.S. President Donald Trump won back the White House in the Nov. 5 election, U.S. finance firms have been seeking to adjust to a new reality in which environmental policies are ripped up and lambasted. That has since spilled out beyond U.S. borders, forcing lenders in other nations to consider their approach to global warming.

NZBA was convened by the United Nations and once represented over 40% of global banking assets. The group is currently consulting members on a drastic overhaul that would see it remove a requirement for signatories to align their portfolios with a goal of limiting global warming to 1.5 degrees Celsius.

¡°The focus of the Net-Zero Banking Alliance remains to support members¡¯ efforts to finance the transition to a net zero emissions economy,¡± a spokesperson for the group said in a statement. An ongoing strategic review will allow the NZBA to continue to ¡°adjust to changing conditions,¡± the spokesperson said.

MUFG was one of 11 member banks on the NZBA¡¯s steering group, which oversees the alliance¡¯s strategy and came up with the new proposed direction for the group. Bank of America and Citigroup were among the original companies on the steering group.