The industry-led, UN-convened Net-Zero Banking Alliance brings together 53 banks from 27 countries representing almost a quarter of global banking assets (over US$37 trillion), which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050. Combining near-term action with accountability, this ambitious commitment sees banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines.
By Joining the Net-Zero Banking Alliance, the financial institution is committed to transiting its investment portfolios to net-zero GHG emissions by 2050 consistent with a maximum temperature rise of 1.5°C above pre-industrial levels. The Alliance will reinforce, accelerate, and support the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks. It recognises the vital role of banks in supporting the global transition of the real economy to net-zero emissions.
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Benefits of Joining the Net-Zero Banking Alliance
INTERNAL BENEFITS FOR BANKS:
- Identify the GHG-intensive sectors of your portfolio
- Measure and report the emissions profile of your lending portfolios and investment activities
- Set and monitor long-term and intermediate targets aligned with the temperature goals of the Paris Agreement
- Access tools, resources, and training programmes
EXTERNAL BENEFITS FOR BANKS:
- Advocate your bank’s commitment towards a net-zero emissions economy
- Support the national efforts towards a low-carbon economy demonstrated in the national Sustainable Development Strategy- Egypt’s Vision 2030 and the Low-Emission Development Strategy (LEDS)
- Networking with the Alliance’s members representing nearly a quarter of global banking
- Develop new partnerships with a range of stakeholders
Net-Zero Asset Owners Alliance
Global asset owners are now setting and reporting on ambitious interim targets for net-zero emissions by 2050. The United Nations-convened Net-Zero Asset Owners Alliance represents a group of 43 of the world’s largest investors that have committed to reducing carbon emissions in their portfolio – worth $6.6 trillion in assets under management (AUM) – to net-zero by 2050, addressing Article 2.1c of the Paris Agreement.
The Alliance is supported by the Principles for Responsible Investment and the UNEP-FI as convenors, the WWF and Global Optimism as strategic and scientific partners, and other collaborators and supporters such as the SBTi-Finance project, the Partnership for Carbon Accounting Financials (PCAF), the Dutch Association of Investors for Sustainable Development (VBDO), and the Berlin-based German Insurance Association (GDV), Intentional Endowments Network.
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Benefits of Joining the Net-Zero Asset Owners Alliance
The UN-convened Alliance utilizes state-of-the-art tools and aligns with various initiatives led by Asset Owners who have demonstrated leadership on the topic of decarbonization and the alignment with the Paris Agreement. In more detail, potential actions would emphasize:
- Investor ambition and target-setting at portfolio level – reporting of contribution to progress in a sector-specific way
- Impact on the real economy and emissions – to the extent methodologies can be developed for this.
- Implementation via a holistic ESG approach for measuring and managing associated impacts.
- Joint engagement, and monitoring of engagements, based on the most authoritative, credible scientific input, to ensure consistency of messaging and necessary ambition. This will build on existing active ownership best practices already under development – such as ClimateAction100+.
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