Tara Shirvani, PhD’s Post

We looked at the net-zero commitments of 25 banks to sort out what is an isn’t working.🏦🌍 Check out WRI Finance Center's Net Zero Tracker to see what practices are leading the field and where improvement is needed to meet our global climate goals: https://lnkd.in/er6pdHi8

🌍💰 New study, reported by the Financial Times, reveals banks' net zero pledges have limited impact on lending practices and borrowers' emissions. 🤔 While assessments like these are just starting, it makes me wonder how far we can really progress towards our climate change goals without clear and effective policies in place. 🤷♂️ #PolicyMatters #NetZero #ClimateFinance

In the last few years, banks have significantly increased their commitments to net zero. However, making commitments and creating transparency won’t be enough in the future. Banks need to proactively finance companies contributing to climate mitigation, while ensuring that their customers in high-emitting industries are also making significant steps to reduce their emissions. Read our blog to find out more: https://lnkd.in/eru--jnZ

As the US experiences devastating weather impacts this month, new analysis indicates that many Global Banks are still working on enhancing their own preparations for resilience in the face of Climate Change #financialservices #fintech #payments

From central banks to innovative green bonds, learn how the $130 trillion finance industry is adapting to global warming challenges. #Climatechange #Sustainability #GreenEconomy #CentralBank #ESG

🌱 2024 has been a pivotal year for climate action in banking. Despite record-breaking temperatures surpassing the 1.5C threshold, some banks are pulling back from climate commitments. 💨 Goldman Sachs’ high-profile exit from the Net Zero Banking Alliance and Morgan Stanley’s adjustment of interim targets signal a shift in priorities, especially in light of anticipated political changes in the US. 🍃 Critics call this a “wave of backsliding”, jeopardising global climate targets. Meanwhile, European banks continue to advance policies, though concerns grow over balancing climate ambitions with competitiveness. ❓The question remains: how can banks drive the green transition in an increasingly complex political and economic landscape? Read more here: https://lnkd.in/dB8bxPEe With comment from Michael Mann, Sonja Gibbs, and Jeanne Martin Anita Hawser reports

While many banks have made net zero commitments and taken significant steps in advancing climate mitigation, they often lack a clear action plan to effectively operationalize their decarbonization strategies. The new publication by @UNEPFI, in collaboration with @Accenture, is outlining the different capabilities banks need to develop and iterate as they strive towards achieving net zero. This paper helps banks assess their current position in their climate journey and tailor their implementation approach based on their climate maturity and context. Dive into the insights here: https://lnkd.in/ejeJqV8E Great work from my colleagues Nina Jais and Carlota Gómez Tapia! #NetZero #ResponsibleBanking #TransitionFinance #Decarbonization #ClimateJourney 

Banks have made headlines in recent years for committing to reach “net-zero emissions” by 2050 and pledging to mobilize trillions of dollars in the fight against climate change. Indeed, banks will play an important role in halting global warming: Companies rely on them to help finance the zero- and low-carbon technologies and solutions that will build a greener, safer future. Their commitment to the cause is essential. But are banks on track to fulfil their promises? Do their current actions and financial flows align with stated climate goals? And which banks are leading the way on achieving net zero — or falling behind? WRI’s Financial Institutions Net Zero Tracker analyses major banks and financial institutions’ performance – check it out! See how banks like Barclays and HSBC are doing… https://lnkd.in/e6JMNxfX #barlcays #hsbc #netzero #banking #financingdecarbonisation #bankingtargets

🚨 NEW REPORT from ShareAction: Banks’ low-ambition and incoherent climate targets are putting the global #NetZero goal at risk. Banks have a huge role to play in averting climate disaster by financing green solutions like wind turbines, solar panels, and energy efficient homes. However, new research from ShareAction has found that the climate targets of Europe’s 20 largest banks are falling short. Banks must finance 10 TIMES the amount of clean energy than fossil fuels by 2030 to ensure a livable future, according to the International Energy Agency (IEA). ShareAction’s report reveals that just TWO out of Europe’s 20 largest banks are on track to achieve this. Some of the key findings: ❌ Sustainable finance targets set by banks are not rooted in clear, robust methodology; ❌ Sustainable finance and decarbonisation targets are not sufficiently aligned with one another; ❌ And their decarbonisation targets (targets to reduce the level of emissions created by the activities they fund) are too narrow. ShareAction is writing to the CEOs of each bank included in this report, outlining how they can set better targets that will help them to reach their net zero goal and meet commitments to protect people and the planet. Learn more 🔽 https://lnkd.in/eZjcHTzG

Very interesting new resource for banks that want to make progress in their climate journey! It aims to introduce a universally accepted end-to-end approach, enabling shared language between banks and other ecosystem actors. You will find three business capability blocks for banks: 1) Core Climate Capabilities 2) Commitment & Targets Capabilities   3) Implementation Capabilities  And a mapping to relevant resources, applicable standards, methodologies, and key stakeholders. Orestis Velentzas Puleng Ndjwili-Potele Dr. Johanna Dichtl Yuki Yasui Carlota Gómez Tapia Alan Gómez Youssef Boumaiz Fernando Salazar de Lara Mabel González Pacheco Paula Peirão Layalee Ramahi Gaston Kwa Fosah Daniel Bouzas Luis Flora Petrucci Nirnita Talukdar United Nations Environment Programme Finance Initiative (UNEP FI) https://lnkd.in/efBr6MDx