Full Title: Banking Beyond Climate Commitments: Transforming Client Engagement and Products & Services for a Net-Zero Emissions Future
Author(s): Jacob Waslander, Julie Bos, Yili Wu
Publisher(s): World Resources Institute (WRI)
Publication Date: August 30, 2021
Full Text: Download Resource
Description (excerpt):
Banks are gradually setting different types of targets: sustainable finance (green) commitments, science-based targets (SBTs), and net-zero commitments. In the financial sector, a sign of growing momentum behind climate action is the launch of the Glasgow Financial Alliance for Net Zero and the Net-Zero Banking Alliance in April 2021. Increased engagement in the Science Based Targets initiative is another sign of growing engagement from the banking sector in Paris alignment. Currently, 78 banks are working on their SBTs, and the number of participating banks is on the rise.
This paper explores how banks can best shape their client engagement with compelling products and services to align their portfolios, and their clients’ businesses, with the Paris Agreement’s goal to limit temperature rise to 1.5°C.