2050 net-zero commitments by banks show less progress than perceived, according to the World Resources Institute's Net Zero Tracker.

The World Resources Institute's Net Zero Tracker reveals that despite a growing number of banks committing to net-zero emissions by 2050, their progress is less ambitious than it seems, and they are not effectively meeting targets to reduce their financing of climate-harming activities. The Tracker evaluates banks' commitments based on transparency, ambition, implementation, credibility, and consideration of nature and equity issues, highlighting the need for stronger policies. With an annual $4 trillion investment required for clean energy alone by 2030, banks play a crucial role in driving positive change by prioritizing lending towards climate solutions and phasing out harmful financing.

August 14, 2024
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