6 October 2021
The industry-led, UN-convened Net-Zero Banking Alliance is pleased to announce a new collaboration with the Centre for Climate-Aligned Finance. The collaboration is designed to harmonize, develop and implement climate alignment methodologies for financial institutions, focused on sectoral decarbonisation.
The Center and the Alliance have a shared ambition for excellence in the pursuit of common goals and are building complimentary work programmes to facilitate capacity building within banks through collaborative development and promotion of robust methodological approaches to alignment, the identification of gaps, and the overcoming of barriers.
The Net-Zero Banking Alliance continues to build strong connections with partners with common interests, including collaborators, supporting institutions and country chapters.
About the Net-Zero Banking Alliance
The industry-led, UN-convened Net-Zero Banking Alliance brings together banks worldwide, representing over 25% of global banking assets, which are taking a leadership role on climate change. Signatories have committed to align their lending and investment portfolios with net-zero emissions by 2050, consistent with limiting global warming to 1.5°C from pre-industrial levels.
Combining near-term action with accountability, this ambitious commitment sees banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines, taking into account the findings of the Intergovernmental Panel on Climate Change (IPCC) based on no/low overshoot scenarios. The Alliance reinforces, accelerates and supports the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks. It is the banking pillar of the Glasgow Financial Alliance for Net Zero and is grounded in the UN Race to Zero.
About the Center for Climate-Aligned Finance
The Center for Climate-Aligned Finance was established by RMI to help the financial sector transition the global economy toward a zero-carbon, 1.5°C future. With deep partnerships in finance, industry, government, and civil society, the Center works to develop decarbonization agreements within high-emitting sectors, build global frameworks for climate alignment, and support financial institutions in decarbonizing their lending and investing portfolios. Launched in 2020, the Center builds on RMI’s nearly 40 years of experience developing market-based solutions to accelerate the energy transition.