Carbon removals

Morgan Stanley to buy 40,000 tonnes of direct air capture removals

The bank recently created a new fund to support the removal of one gigatonne of emissions by 2050.

Melodie Michel

24 October 2024

Sustainable Finance

Banks remain too open to coal and fossil fuel financing: TPI report

Banks’ climate targets are estimated to cover less than 22% of their total revenues.

Melodie Michel

09 October 2024

Sustainable Finance

Most NZBA member banks have now set climate targets

Most of the banks that have not met their target-setting requirements are in emerging markets.

Melodie Michel

03 October 2024

Plastic Pollution

Morgan Stanley drops 2030 pledge to cut plastic pollution

The bank removed all mentions of its Plastic Waste Resolution from its latest ESG report.

Melodie Michel

06 September 2024

Transition Finance

Wells Fargo begins developing transition finance framework

Banks could generate US$44 billion of extra revenue annually through 2030 by financing the climate transition.

Melodie Michel

03 September 2024

Policy & Standards

SBTi updates financial institution guidance with optional fossil fuel target criteria

The new document also clarifies that the exclusion of non-material activities from FI targets “may not exempt any activities related to fossil fuels”.

Melodie Michel

30 May 2024

Operations & Finance

Global banks under pressure to set more specific sustainable finance targets

To meet the world’s net zero targets, the ratio of green to fossil fuel financing should reach a minimum of 4:1 by 2030.

Melodie Michel

06 May 2024

Policy & Standards

Global banks set to include capital market emissions in net zero targets

The second version of the NZBA guidelines reflect improvements in financed emissions calculation methodologies and data quality.

Melodie Michel

14 March 2024

Operations & Finance

Top fossil fuel financier Barclays stops funding new oil and gas projects

The bank's previous climate plan was criticised for lacking a commitment to end new oil and gas expansion.

Melodie Michel

09 February 2024

Operations & Finance

European banks move away from fossil fuels post-COP28

Crédit Agricole and ING have both announced steps to phase out fossil fuel investments from their portfolios faster than planned.

Melodie Michel

21 December 2023