Following its commitment to create sustainable progress and support the green transition, Danske Bank is today joining the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened alliance of banks worldwide, created ahead of the UN Climate Conference in Glasgow later this year.
Members of the alliance commit to aligning the greenhouse gas emissions of their lending and investment portfolios with net-zero by 2050 or sooner, in line with the climate goals of the Paris Agreement.
The Net-Zero Banking Alliance
- The NZBA is convened by the United Nations Environment Programme Finance Initiative and is the banking element of the Glasgow Financial Alliance for Net Zero, chaired by Mark Carney, the UN Special Envoy on Climate Action and Finance ahead of the COP 26 climate conference.
- Combining near-term action with accountability, this commitment requires banks to set an intermediate target for 2030 or sooner, using robust, science-based guidelines.
- The Alliance will reinforce, accelerate and support the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks.
It recognises the vital role of banks in supporting the global transition of the real economy to net-zero emissions.