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Five international banks committed to fight climate change

05/12/2018

On the occasion of COP24, which is taking place this year in Katowice, Poland, until December 14th, five leading banks team up in pledge to align lending portfolios with global climate goals.

ING, BBVA, Societe Generale, Standard Chartered and BNP Paribas committed to measure the climate alignment of their lending portfolio, and to explore ways to progressively steer financial flows through their core lending towards the goals of the Paris Agreement.

The institutions have announced this in a joint statement at the climate summit in Katowice. The banks have a joint loan book of € 2400 billion.

How? By supporting the goal set out in Article 2.1c of the Paris Agreement: “Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.”