Citigroup (C) and Bank of America (BAC) are withdrawing from United Nation's Net-Zero Banking Alliance, a global group committed to lowering greenhouse gas emissions, multiple outlets reported late Tuesday, citing statements from the companies.

Citigroup has made progress toward its own net-zero goals but decided to leave the NZBA, the outlets said, citing a company statement.

Bank of America said it will continue to work with clients on this matter, Reuters reported, citing an emailed statement from the company.

Citigroup and Bank of America did not immediately respond to MT Newswires' request for comment.

US stock markets were closed on Wednesday for New Year's Day.