Financing the Transition
The first phase of our Tomorrow’s Capitalism Inquiry made it clear that the number one reason we might collectively fail to turn our whole economy green over the next 30 years is because we failed to move money fast enough and at sufficient scale. Financing the transition to a net zero economy and enabling companies that have a part to play in a regenerative future to thrive is the overarching topic for phase two of our Inquiry. The 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.
The initial banks committed to the initiative were announced July 2020. Read more here.
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.
Scope and Ambition
Bankers for NetZero brings together banking leaders and other key stakeholders to investigate two questions:
- How can banks best support key sectors of the UK economy in transitioning to net zero?
- What’s needed from policy and regulation to enable banks to finance a rapid transition?
The final output will be a set of ambitious but achievable policy recommendations and pledges to action, delivered in the lead up to COP26 (likely to be held in November 2021).
If you would like to be considered for participation in this initiative please contact us.
“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
Start a conversation
If you would like to be considered for participation in this initiative please contact Nathalie by clicking here or send her an email at email@example.com.