
Several prominent trends and strategies are emerging as the banking and finance industry commits to a net-zero carbon future. One significant aspect is the adoption of decarbonization targets and commitments. Banks and financial institutions are no longer content with business as usual; instead, they are embracing science-based targets to substantially reduce their carbon footprints. The first progress report from the Net Zero Banking Alliance reveals that more than half of its member banks, such as Citibank, Bank of America, and HSBC, have set intermediate decarbonization targets, prioritizing their most carbon-intensive businesses or significant financial exposures to be achieved by 2030.
Several prominent trends and strategies are emerging as the banking and finance industry commits to a net-zero carbon future. One significant aspect is the adoption of decarbonization targets and commitments. Banks and financial institutions are no longer content with business as usual; instead, they are embracing science-based targets to substantially reduce their carbon footprints. The first progress report from the Net Zero Banking Alliance reveals that more than half of its member banks, such as Citibank, Bank of America, and HSBC, have set intermediate decarbonization targets, prioritizing their most carbon-intensive businesses or significant financial exposures to be achieved by 2030.
Several prominent trends and strategies are emerging as the banking and finance industry commits to a net-zero carbon future. One significant aspect is the adoption of decarbonization targets and commitments. Banks and financial institutions are no longer content with business as usual; instead, they are embracing science-based targets to substantially reduce their carbon footprints. The first progress report from the Net Zero Banking Alliance reveals that more than half of its member banks, such as Citibank, Bank of America, and HSBC, have set intermediate decarbonization targets, prioritizing their most carbon-intensive businesses or significant financial exposures to be achieved by 2030.