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In an era defined by the urgent need for climate action, the global banking sector stands at the forefront of the battle against climate change. With nearly 60% of the world's leading banks committing to achieving net-zero carbon emissions, the financial industry plays a pivotal role in shaping a sustainable future.
However, a stark reality emerges from recent research from Accenture — only 12% of banks are currently on course to reduce their own Scope 1 and 2 emissions by the net-zero target date of 2050.
And crucially, the challenge extends beyond banks' operational emissions, accounting for just a fraction of their total impact. The larger and more impactful task lies in addressing Scope 3 emissions, which contribute over 95% to the average bank's overall carbon footprint.
In this complex landscape, banks face four critical challenges:
Effectively addressing their own operational emissions.
Measuring their full Scope 3 carbon footprint – including both financed and supply chain emissions.
Empowering corporate customers to decarbonize with effective tools.
Distributing and monitoring sustainable products to clients, including sustainable savings and loans.
In our guide, we offer insights into how banks can navigate these challenges to fulfill their commitment to a decarbonized future.
We address key aspects such as:
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