Handelsbanken is proud to be a member of the UN initiative Net-Zero Banking Alliance (NZBA)
In order to meet the goals of the Paris Agreement and achieve net zero greenhouse gas emissions globally, the financial system must be realigned. Therefore the UN is establishing a Net-Zero Banking Alliance, NZBA, which our CEO, Carina Åkerström, has signed up to on behalf of Handelsbanken.
The purpose of the Net-Zero Banking Alliance is to increase the pace of efforts to combat the climate emergency, create common standards for banks to express credible climate commitments, and as far as possible link together existing initiatives such as the Principles for Responsible Banking. Handelsbanken’s participation in the newly formed alliance confirms that we stand behind the Paris Agreement goal of achieving a climate neutral world by mid-21st century, and the generally agreed methods to get there. Also, that we undertake to report regularly on our emissions in line with established frameworks. These commitments serve to reinforce our own public climate commitment: to achieve net zero greenhouse gas emissions as soon as possible, but no later than 2040 - an ambitious target that includes not only emissions from our own operations, but also those linked to lending, leasing and investments.
In short, banks joining this alliance commit to:
- achieve net zero emissions by 2050 at the latest and align our lending and investment activities with the 1.5 degree temperature goal. In Handelsbanken’s case, we commit to achieving net zero by 2040 at the latest.
- set interim targets for 2030 (or sooner).
- annually report on our progress in line with established metrics and frameworks.
- ensure that climate targets are part of broader organisational strategic plans.
- drive and facilitate the necessary transition in the real economy through our client relationships, products and services.
- support innovation and increase the financing of climate solutions.
–We recognise the vital role of banks in supporting the transition of society to net-zero emissions. We must ensure that we reduce our own direct climate impact, and plan to increase the pace even more. By joining the Net Zero Banking Alliance we are not only supporting change but also committing to being an active partner in it – through giving advice, directing finance, engaging and collaborating with both our customers and other stakeholders, says Carina Åkerström, CEO of Handelsbanken.
