Low angle view of modern skyscrapers in Midtown Manhattan.
Finance
How the Net-Zero Banking Alliance Helps Banks Set Interim Emissions Targets
If the last 18 months of banks’ climate ambitions were about announcing 2050 net-zero emissions pledges, the next 18 must be about setting interim targets. Committing to align portfolios with net zero by 2050 is a welcome market signal—but the material question remains where banks intend to be in 1,…
Financing 1.5°C: How Canadian Banks Are Approaching Climate Alignment
If Canada’s influential “Big Six” banks are any indicator, climate ambition among the Canadian financial sector is rapidly evolving—following similar trends in the United States and, before that, in Europe. Between TD Bank Group, Royal Bank of Canada, Scotiabank, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank…
Net-Zero Commitments: The US Financial Sector Weighs In
In the years since the 2015 Paris Agreement, net-zero or “climate-alignment” commitments have spread rapidly across financial sector, with the trend recently gaining considerable momentum in the United States. Since…
Financing the Transition from Coal to Clean Energy
It is becoming clear that an accelerated coal-to-clean transition in the global electricity system is both necessary and feasible. Commitments to cease new coal investments are critical in the near-term but insufficient to meet global emissions reductions required by the end of this decade. According to Carbon Brief, any…
Financing 1.5°C: Contextualizing Wall Street’s Latest Climate Commitments
Financing 1.5°C is a new series exploring the unique challenges and opportunities facing global financial institutions as they look to transition the real economy toward a net-zero future. Financing 1.5°C aims to elucidate just what “climate alignment” means and looks like in practice, with a focus on actions the financial…