27 January 2020 - With the world heading towards more than 3°C of warming based on current policies, the requirement for urgent action is ever greater. Financial institutions are one of the major stakeholder groups responding to this emergency.
As of 31st of December 2019, there are 15 climate initiatives enabling financial institutions to take actions on climate change. These initiatives provide insights and guidance on methodologies, standards and tools to decarbonize financial portfolios.
Recognizing the myriad of climate initiatives, PCAF developed a guidance to help financial institutions navigate through them and understand their purpose, focus, coverage and target audience. The guidance also gives an overview of the status and the requirements to join the initiatives.
Understanding this landscape will help financial institutions at different levels of progress to identify the most efficient support available to scale their climate efforts.