Big banks urged to step up on sustainable finance in 2025
3 weeks, 1 day ago

Big banks urged to step up on sustainable finance in 2025

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. It comes after ShareAction recently found that while all 20 banks had set a sector-specific target for decarbonisation and cutting emissions, only nine had set one for sustainable finance – funding for sectors like renewable energy and infrastructure. “Banks should heed the warning that shareholders will take action next year if they fail to meet investor expectations of urgent progress on this issue.” It comes amid growing investor concerns over how banks are approaching sustainable finance, with coalitions recently backing statements at annual general meetings this summer, urging Societe Generale and HSBC to set key targets for transition sectors. “These sectors will create jobs, drive economic development, and pave the way for a more resilient and sustainable future.” A spokesperson for NatWest Group said: “In the first nine months of 2024, NatWest Group provided £23.5 billion of Climate and Sustainable Funding and Financing to our customers and we are within sight of reaching our ambition to provide £100 billion between July 1 2021, when this ambition was set, and the end of 2025. “The Share Action report notes that we are one of only two banks that it has written to with an energy investment supply ratio consistent with net zero by 2050.” A Santander spokesperson said: “The bank has set sustainable finance and emission reduction targets for 2030 across a range of material emitting sectors, and operates strict policies governing our financing decisions.

Finance Europe Sustainable Renewable Energy Set Hsbc Big Banks Sustainable Finance Shareaction Banks Urged Big Banks Urged Funding Sectors  funding  sectors  sign  sustainable  2025  set  big  banks  urged  renewable  energy  finance  step  targets

History of this topic

Regulators urged to launch probe into greenwashing by UK’s major banks
7 months, 1 week ago

Regulators urged to launch probe into greenwashing by UK’s major banks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Make My Money Matter said regulators should investigate the …

HSBC Asked by $890 Billion Investor Group to Set New Energy Goal
8 months ago

HSBC Asked by $890 Billion Investor Group to Set New Energy Goal

Live Mint  

A group of HSBC Holdings Plc investors wants the bank to set a funding target for renewable energy amid concerns its current green pledges are too vague. HSBC’s current $750 billion to $1 trillion sustainable-finance goal for 2030 is formulated in such a way that “investors don’t have enough information about how exactly this will be spent to know if …

Barclays pledges to stop directly financing new oil and gas projects
10 months, 4 weeks ago

Barclays pledges to stop directly financing new oil and gas projects

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Barclays has promised to stop …

Six high-street banks given ‘red’ warning over eco policies, Which? reveals
1 year, 3 months ago

Six high-street banks given ‘red’ warning over eco policies, Which? reveals

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Consumers seeking …

Indian banks could be catalyst in mitigating climate change
1 year, 4 months ago

Indian banks could be catalyst in mitigating climate change

Hindustan Times  

The Bank of England recently published its climate-related financial disclosure, thereby bringing clarity of approach to manage the risks from climate change across its policy functions. For example, India’s share in exports to Europe stands at around 20%, and given India’s interest in the region, it will be important for Indian banks to prepare to build mechanism which will allow …

Group of ING business clients ask bank to stop financing fossil fuel firms
1 year, 10 months ago

Group of ING business clients ask bank to stop financing fossil fuel firms

NL Times  

A group of organizations that have a business bank account with ING is calling on the bank to stop financing oil and gas projects. They have placed a full-page The signatories said, “The solution is clear: stop using fossil fuels and focus on renewable energy.” Supporters include the FNV labor union, public broadcaster VPRO, the Fietsersbond bicyclists association, the Amsterdam …

India, U.S. to collaborate on reaching green energy targets
3 years, 3 months ago

India, U.S. to collaborate on reaching green energy targets

The Hindu  

The United States is to collaborate with India to work towards installing 450 GW of renewable energy by 2030. Mr. Kerry is on an official visit to India from September 12-14 and is meeting ministers and industrialists to “raise global climate ambition and speed India’s clean energy transition,” according to a communique from the U.S. State Department. Mr. Kerry said …

Banks must stop funding new fossil fuel projects as fast as possible
3 years, 8 months ago

Banks must stop funding new fossil fuel projects as fast as possible

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. If the banks are serious about the climate emergency, the basic first step is for them to stop funding …

How UK banks are fuelling the climate crisis in numbers
3 years, 8 months ago

How UK banks are fuelling the climate crisis in numbers

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. £220bn for fossil fuels The UK’s top five banks provided around £220bn in finance for fossil fuel projects from …

The financial sector is finally turning up the heat on fossil fuels – it’s about time
3 years, 8 months ago

The financial sector is finally turning up the heat on fossil fuels – it’s about time

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Infuriatingly, in spite of all the hot air produced about the climate emergency in recent years, the financial system …

Financial support urged to attain carbon targets
3 years, 8 months ago

Financial support urged to attain carbon targets

China Daily  

Aerial photo taken on Aug 19, 2020 shows wind turbines in Jiucaiping scenic spot in Southwest China's Guizhou province. China's central bank chief vowed on Tuesday to mobilize financial support from all parties to realize the goal of the nation achieving carbon neutrality by 2060, and called for promoting a deepened opening-up of the domestic green financial market to foreign …

Big Banks Are 'Fueling Climate Chaos' By Pouring Trillions Into Oil, Gas And Coal
3 years, 9 months ago

Big Banks Are 'Fueling Climate Chaos' By Pouring Trillions Into Oil, Gas And Coal

Huff Post  

LOADING ERROR LOADING The world’s largest banks have funneled $3.8 trillion into the fossil fuel industry over the last five years, according to new figures published Wednesday. “Major banks around the world, led by U.S. banks in particular, are fueling climate chaos by dumping trillions of dollars into the fossil fuels that are causing the crisis.” JPMorgan Chase provided $51.3 …

Exclusive: Wells Fargo joins wave of banks setting net-zero climate goals
3 years, 10 months ago

Exclusive: Wells Fargo joins wave of banks setting net-zero climate goals

CNN  

New York CNN Business — Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. Wells Fargo, the third largest US bank by assets, joins a parade of big banks setting net zero goals — following similar pledges made last week by Goldman Sachs and Citigroup. “When a wildfire burns down a major …

Why your banking habits matter for the climate
3 years, 11 months ago

Why your banking habits matter for the climate

BBC  

Why your banking habits matter for the climate Javier Hirschfeld/Getty Images Where you invest your savings or put your pension can have a surprising impact on the environment What immediately comes to mind when thinking about the impact you have on the climate? Javier Hirschfeld/Getty Images While most people worry about how far they drive or fly, they often overlook …

Banks urged to combat deforestation and halt biodiversity crisis
3 years, 11 months ago

Banks urged to combat deforestation and halt biodiversity crisis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The researchers say banks should align anti-deforestation policies to …

Boost for green finance
4 years ago

Boost for green finance

China Daily  

LI XIN/FOR CHINA DAILY China's central bank is introducing new methods to help the country achieve its carbon neutrality objective Environmental and climate challenges remain urgent as countries respond to the COVID-19 pandemic. Green finance products in China became available quite early, and have become increasingly diversified, such as green credit, green bonds, green agricultural insurance, clean energy insurance and …

Boost for green finance
4 years ago

Boost for green finance

China Daily  

LI XIN/FOR CHINA DAILY China's central bank is introducing new methods to help the country achieve its carbon neutrality objective Environmental and climate challenges remain urgent as countries respond to the COVID-19 pandemic. Green finance products in China became available quite early, and have become increasingly diversified, such as green credit, green bonds, green agricultural insurance, clean energy insurance and …

Amid Climate Crisis, Activists Ask Banks to Stop Giving Loans to Industries Harming Wildlife, Forests
4 years, 2 months ago

Amid Climate Crisis, Activists Ask Banks to Stop Giving Loans to Industries Harming Wildlife, Forests

News 18  

London: Campaigners called on Wednesday for global banks to stop financing industrial activities driving animal and plant species toward extinction, after a report ranked 50 lenders involved in sectors that pose the greatest threat to wildlife. “Banks need to understand that the same holds true for destroying biodiversity.” The report found that in 2019, the 50 banks provided loans and …

Climate change warning for banks: Do something or see asset prices collapse
5 years, 8 months ago

Climate change warning for banks: Do something or see asset prices collapse

CNN  

London CNN Business — Central bankers and finance regulators have warned banks to act urgently to fight climate change or risk going bust. The group warned that climate risks are not being properly reflected in asset prices, and they pledged to take steps that will make banking more responsible and “green.” “The enormous human and financial costs of climate change …

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