The ESG Initiative at the Wharton School


Banks Far From Hitting Paris Climate Targets, Groups Warn

Outlet: Washington Post
Vit Henisz comments on a new report about banks’ climate efforts.

The world’s most influential banks need to substantially accelerate climate efforts if global temperature rise is to be kept within the targets of the Paris Agreement, an assessment released Thursday by an institutional investors group warned.

The efforts of 27 giant banks in North America, Europe and Asia to align their policies with global warming of no more than 1.5 degrees Celsius (2.7 Fahrenheit) are falling far short in every area measured in the pilot study, obtained exclusively by The Associated Press.