Financing the Transition

The number one reason we might fail to reach net zero emissions over the next 30 years is because we fail to finance it at pace and scale. We must finance the transition to a net zero economy and enable companies to thrive in a regenerative future. Bankers for NetZero Initiative is an important part of this.

Bankers for NetZero

An initiative bringing together banks, businesses and regulators to enable banks to successfully support their clients, accelerate the transition to net zero and deliver on the UK government’s ambitions for addressing climate change.

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Our steering committee.

Initiative Partners:

Scope and Ambition

Bankers for NetZero brings together banking leaders and other key stakeholders to investigate two questions:

  1. How can banks best support key sectors of the UK economy in transitioning to net zero?
  2. What’s needed from policy and regulation to enable banks to finance a rapid transition?

Our final output will be some ambitious but achievable policy recommendations and pledges to action, delivered in the lead up to COP26.

Recommendations to date:

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News and Press Releases

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As co-founders of the Bankers For NetZero initiative in 2019, the Volans team was out in force at the much-anticipated Parliamentary Reception where speakers like UN’s Eric Usher, MP Bim Afolami and City of London Corp’s Catherine McGuinness highlighted the success of the initiative and the importance of it moving forward as NetZero commitments must turn to action.
The Bankers For Net Zero initiative has brought together Banks, Industry representatives to make both ambitious and practical recommendations for policy makers and regulators on topics such as Retrofitting and Small Medium Businesses both of which are essential for decarbonising the UK.  After incubation with Volans, the initiative is now standalone managed day to day by Heather Buchanan, with Volans’ CEO Louise Kjellerup Roper as a board director and Richard Roberts on the advisory council.   Banking partners include: Coventry Building Society, HSBC, Santander, Lloyds, Triodos, Handelsbanken, Ecology, Clearbank, Barclays, Allica Bank, Tide and Oak North.

This initiative is an important step in helping banks deliver on their commitments under the UN Principles for Responsible Banking. Bold leadership and a collaborative approach will be required in the coming years as we grapple with the transition to net zero. We look forward to working with the Bankers for NetZero team, including through the PRB Collective Commitment to Climate Action, as the UK forges a path to deliver, on the ground, real change that enables the most effective transition to a net zero economy.

Eric Usher, Head of UNEP FI

Banks have been a bit late to the game on climate action. I really welcome the Bankers for NetZero initiative because it’s time for banks to catch up.

Nigel Topping, UK High Level Climate Action Champion for COP26

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