Whether it’s monsoons in India, melting glaciers in Myanmar, or wildfires in Australia, changes in the weather are happening all over the world. How individuals, businesses and communities respond now will determine the success of the transition needed to slow down the global temperature increase.
“When you do the math, you realise that we’ve not got much time to bend the curve on greenhouse gas emissions. Understanding climate change and the energy transition aren’t just nice to know. They are an imperative for smart investment decisions today,” says Dr Charles Donovan, Professor of Practice for Climate Finance at Imperial College Business School.
Industry sectors such as oil and gas, agriculture and transport are being impacted by physical and transition risks related to climate change. Watch Tracy Clarke, our Regional CEO, Europe & Americas and CEO, Private Bank discuss transition trends with Dr Donovan.
Turning risk into opportunity
Emerging markets are often the most vulnerable to climate change. But they also have the biggest opportunity to build green infrastructure from the ground up, embracing electrical vehicles, creating new transport networks and turning to renewable energy sources. However, the low carbon transition won't be possible without proper financial support. Together, we can do more.
How we’re helping
We are working hard to play our part in the fight against climate change. We are committed to provide USD35 billion worth of financing to renewable energy by 2024. As well as financing offshore wind projects in Taiwan and solar projects in India and Bangladesh, we also played a part in bringing a large-scale clean water scheme to Zambia. Our green projects have helped us save almost 750,000 tonnes of CO2 emissions, the equivalent output of 217,000 residents from low- and middle-income communities.