All banks joining NZBA sign the Signatory Statement and are encouraged to draw on the guidance established in the Guidance for Climate Target Setting for Banks.

Signatory Statement

 

The Signatory Statement is signed by a bank’s CEO and outlines that member banks have independently chosen to support the transition to a low-carbon economy by already setting and publishing individual science-based, near-term targets (or by choosing to do so within 18 months of joining), by disclosing progress against targets, and by developing and publishing transition plans. In addition, the statement:

  • Encourages members to draw on the guidance established in the Guidance for Climate Target Setting for Banks and the many other key outputs and resources from the Alliance’s work.
  • Encourages members to enact sound climate governance and transparency of material information through climate disclosures using recognized, science-based frameworks.
  • Recognizes the vital role of banks in supporting the transition of the real economy to net-zero emissions and that they will only succeed in achieving this objective if their clients and other stakeholders also play their part.

 

Guidance for Climate Target Setting for Banks

 

The Guidance for Climate Target Setting for Banks outlines key principles to underpin the setting of credible, robust, impactful and ambitious targets for achieving net-zero greenhouse gas emissions goals in alignment with the Paris Agreement..
The guidance has been developed to support members and establish good practice. NZBA members are encouraged to use it and to follow its four overarching principles:

    1. To individually and independently set and publicly disclose long-term and intermediate targets to support meeting a net-zero GHG emissions goal and towards alignment with the Paris Agreement.
    2. To establish an emissions baseline and annually measure and report the emissions profile of their lending, investment, and capital markets activities.
    3. To use widely accepted science-based decarbonization scenarios to set both long-term and intermediate targets that are aligned with a net-zero goal and the goals of the Paris Agreement.
    4. To regularly review targets to ensure consistency with current climate science.