Post by account_disabled on Mar 2, 2024 23:27:19 GMT -5
Some limitations; it can be difficult to find agreement on whether controversial technologies such as natural gas, nuclear, CCS and biofuels are "green" or "brown." However, if green and brown exposure were transparently reported by banks, it would improve the understanding the financial sector's climate progress. Next step: science-based climate action There are several encouraging signs that banks are recognizing the enormous business opportunity created by the unprecedented capital needs of the low-carbon transition.
Twenty-three financial institutions, including banks, have committed to set GHG emission reduction targets in line with the Paris Agreement through the Science-Based Targets initiative, and BTC Number Data an additional companies in this sector reported to CDP in that they intend to set a science-based target within the next two years. Some financial institutions are already taking concrete steps to improve their climate progress. In December, the World Bank, ING and AXA announced plans to divest from fossil fuels including coal, oil, and gas.
Earlier this year, Spain's second largest bank BBVA committed to invest $ billion in climate projects by and cut its own carbon emissions by percent. To truly bring the climate fight to finance, however, requires developing science-based metrics and tools that allow financial institutions to set performance benchmarks in line with global climate goals. The Science-Based Targets initiative is working to develop methods and guidance for financial institutions to set science-based climate targets for their investing and lending portfolios.
Twenty-three financial institutions, including banks, have committed to set GHG emission reduction targets in line with the Paris Agreement through the Science-Based Targets initiative, and BTC Number Data an additional companies in this sector reported to CDP in that they intend to set a science-based target within the next two years. Some financial institutions are already taking concrete steps to improve their climate progress. In December, the World Bank, ING and AXA announced plans to divest from fossil fuels including coal, oil, and gas.
Earlier this year, Spain's second largest bank BBVA committed to invest $ billion in climate projects by and cut its own carbon emissions by percent. To truly bring the climate fight to finance, however, requires developing science-based metrics and tools that allow financial institutions to set performance benchmarks in line with global climate goals. The Science-Based Targets initiative is working to develop methods and guidance for financial institutions to set science-based climate targets for their investing and lending portfolios.