Banks and businesses must step up and work together to fight climate change

Standard Chartered is calling for a shift away from 'business-as-usual' by sharing its methodology for measuring and reducing CO2 emissions from financed activities. The bank emphasizes that achieving the Paris Agreement's goal of keeping global warming below 2˚C requires joint efforts among financial institutions and widespread emissions disclosures from companies. To refine its framework, Standard Chartered is collaborating with BBVA, BNP Paribas, Société Générale, and ING through the Katowice Commitment, and is piloting an emissions assessment software tool with the 2 Degrees Investing Initiative (2DII). The bank highlights a business case for these disclosures, noting that the IFC expects the Paris Agreement to open $23 trillion in climate investment opportunities in emerging markets by 2030.

• Standard Chartered is developing a methodology to measure, manage, and reduce CO2 emissions resulting from the activities it finances to support the Paris Agreement goal of limiting global warming to below 2˚C.
• The bank is collaborating with BBVA, BNP Paribas, Société Générale, and ING via the Katowice Commitment to create the tools and methodologies necessary for the banking sector to assess its contribution to climate goals.
• Standard Chartered has partnered with the 2 Degrees Investing Initiative (2DII) to pilot a software tool for emissions assessments, aiming to solve challenges related to data acquisition, validation, and portfolio scaling.
• Corporate emissions disclosures are presented as a business necessity, as the IFC estimates that the Paris Agreement could generate $23 trillion in climate investment opportunities in emerging markets by 2030, much of which depends on emissions data.

APA

Hall, B. W. R. (2020). Banks and businesses must step up and work together to fight climate change. World Economic Forum. https://www.weforum.org/stories/climate-action/its-time-for-banks-and-businesses-to-step-up-in-the-fight-against-climate-change/

Chicago

Hall, Bill Winters, Rosanna. Banks and businesses must step up and work together to fight climate change. World Economic Forum, 2020. https://www.weforum.org/stories/climate-action/its-time-for-banks-and-businesses-to-step-up-in-the-fight-against-climate-change/.

Wikipedia

{{cite press release |last1=Hall |first1=Bill Winters, Rosanna |title=Banks and businesses must step up and work together to fight climate change |publisher=World Economic Forum |date=8 January 2020 |url=https://www.weforum.org/stories/climate-action/its-time-for-banks-and-businesses-to-step-up-in-the-fight-against-climate-change/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{hall2020banks, author = {Hall, Bill Winters, Rosanna}, title = {{Banks and businesses must step up and work together to fight climate change}}, publisher = {World Economic Forum}, year = {2020}, month = jan, url = {https://www.weforum.org/stories/climate-action/its-time-for-banks-and-businesses-to-step-up-in-the-fight-against-climate-change/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }