Our roadmap to net zero
How we plan to transition to net zero carbon emissions.
We believe we have a unique role to play in facilitating a just transition to net zero and we’re committed to doing our part. Our roadmap helps us deliver on our carbon emission targets while supporting economic growth and prosperity across our markets.
Reaching net zero
We’re committed to net zero carbon emissions in our own operations by 2025 and financing by 2050.
Climate change will hit hardest in many of the communities and markets where we operate.
A just transition
An inclusive net-zero economy brings with it a huge opportunity for growth and prosperity.
Milestones on the journey to 2050:
- Launched our pathway to net zero by 2050, including interim targets and a supporting methodology
- Announced plans to mobilise USD300 billion in sustainable finance
- Published a Transition Finance Framework
- Developed 2030 emissions baseline and targets for Aviation, Shipping and Automotive Manufacturers
- Formally joined the Partnership for Carbon Accounting Financials (PCAF)
- Developed capabilities for, and commence, quarterly external reporting against key net zero metrics
- Develop 2030 emissions baseline and targets for Cement, Mortgages, Aluminium and Commercial Real Estate to be communicated in our 2023 Annual Report in Q1 2024
- Expand our coverage to facilitated emissions, adopting the PCAF standards when available
- Established an absolute financed emissions target and baseline for Oil & Gas
Develop 2030 emissions targets for Agriculture, to be communicated in our 2024 Annual Report in Q1 2025
- Aim to double our share of sustainable investing assets under management and integrate ESG considerations into our advisory activities in our wealth management business
- Aim to be net zero in our own operations
- Aim to only provide financial services to clients who are less than 5% dependent on revenue from thermal coal
- Aim to meet our oil and gas sector target requiring a 29% reduction in absolute financed emissions
Target end date for legacy direct coal financing 2050 globally
Aim to become net zero in our financed emissions