what climate change means to us Climate change

Climate change is one of the greatest challenges facing the world today. Its impact on the environment and human health significantly affects sustainable economic growth.

Our approach

We support the Paris Agreement goals on climate change, which aim to keep the average global temperature rise well below two degrees, to prevent the worst effects of global warming.

We focus on three areas:

Accelerating sustainable finance

We are in a unique position to tackle climate change. While we are an international bank, more than 91 per cent of our sustainable finance assets are located in emerging markets where the need for funding is the greatest and could have the most impact. We have committed to funding and facilitating USD75 billion of sustainable infrastructure, clean tech and renewables between 2020 and 2025, bringing in capital from across the financial sector.

As companies commit to the Paris Agreement, we recognise the need for a voluntary carbon market to bring buyers and sellers together to help meet climate targets. This is a collective effort and the investment made by companies to reduce their emissions helps support climate action.

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Reducing our emissions

Our climate impacts are primarily from the clients we finance and support. We measure, manage and ultimately reduce the emissions related to our operations and the financing of our clients. For example, by 2030 we will only provide financial services to clients who are less than 5 per cent dependent on thermal coal.

Meanwhile, we are committed to reaching net zero carbon emissions from our operations by 2025, and from our financing by 2050. We have targets in place to reduce our energy use and report our progress every year and have done for more than a decade.

Managing financial risk

Climate change is a growing financial risk around the world. As temperatures rise so do the risks to businesses. The better we quantify the risks, the better our chances for developing effective responses as a society. We partnered with Baringa to measure, manage and report climate-related transition risk. We also partnered with Imperial College London to understand the science and unlock solutions for climate risk management to help prepare our clients and support their transition.

Downloads

This file opens in a new windowClimate change position statement | pdf

Climate change position statement

This file opens in a new windowTaskforce on Climate-related Financial Disclosures (TCFD) | pdf

Taskforce on Climate-related Financial Disclosures (TCFD)

This file opens in a new windowOur Sustainability Aspirations | pdf

Our Sustainability Aspirations

Sustainable Finance

From financing innovations that build sustainable cities to powering millions of people through clean energy – see how we’re using money as a force for good.

Find out more

Helping clients to transition

With a footprint across Asia, Africa and the Middle East, we can help our clients transition to meet the Paris Agreement goals. We play our part in tackling climate change by balancing our approach to lending – providing more funds to climate-positive companies and by helping carbon intensive firms manage their emissions. We have a transition framework in place to help guide our clients.

Our reports

Industries in transition

One silver lining from the pandemic has been the renewed focus on sustainability and the importance of building resilience in economies and societies.

Is investment going where it matters most?

Our latest research report, The $50 Trillion Question, seeks to find out if the world’s top investment firms are using their assets to help meet the UN’s Sustainable Development Goals

Opportunity 2030

The private sector has a critical role to play in meeting the UN’s Sustainable Development Goals over the next decade. Our report reveals for the first time some of the major opportunities for the private sector to contribute.

Our insights

Six sustainability trends to watch in 2021

What will be on the sustainability agenda for the next 12 months? We look at six of the potential hot topics for 2021

India's bright future in energy

With renewable energy investment on the rise and the coal sector starting to feel the pressure, what are the risks and opportunities in India?

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Impact is more important than league tables

Driving sustainable finance to where it matters most is key to delivering the UN’s Sustainable Development Goals

A farmer carries grapes in an era where climate change affects global trade

Promoting sustainable finance

Moving capital to where it matters most