Can Big Banks Be Trusted to Fulfill Their Climate Pledges?

Europe’s top 25 are failing, by and large, green campaigners warn.

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This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration.

Europe’s 25 largest banks are still failing to present comprehensive plans that address both the climate crisis and biodiversity loss, putting their sustainability pledges in doubt, campaigners have warned.

While some lenders such as NatWest are demonstrating leadership on specific issues—such as net zero targets and policies restricting financing for new fossil fuel—research by investment campaign group ShareAction found none of the banks it reviewed were taking action across all key areas. These are: biodiversity; exposure to high-carbon sectors; policies restricting services to sectors such as oil and gas; and linking executive pay to progress on climate issues.

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