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But under half of disclosing financial institutions report actions to align portfolios with a well below 2 °C world
The GHG emissions associated with financial institutions' investing, lending and underwriting activities are on average over 700 times higher than their direct emissions, according to a first-of-its-kind report by non-profit CDP, which runs the global environmental disclosure system.
The Time to Green Finance, released today, shows that almost all climate-related impacts and risks of global financial institutions come from financing the wider economy. However, just 25% of the 332 financial institutions disclosing in 2020 through CDP’s first financial services climate change questionnaire reported portfolio emissions. The 84...
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