SEB Joins Banking Alliance Aimed at Helping Achieve Net-Zero Emissions
By Dominic Chopping
STOCKHOLM--Skandinaviska Enskilda Banken AB said Wednesday that
together with 42 other banks from around the world it is forming
the Net-Zero Banking Alliance, or NZBA, to accelerate the
transition of the global economy to net-zero emissions by 2050 at
The Sweden-based bank said the initiative, which brings together
banks with combined assets of $28.5 trillion, means that SEB
commits to align operational and attributable emissions from its
lending and investment portfolios with pathways to net-zero by 2050
The Net-Zero Banking Alliance is part of the Glasgow Financial
Alliance for Net Zero, or GFANZ, which is also launching Wednesday.
It is a global alliance that brings together existing and new
net-zero finance initiatives into one sector-wide strategic
GFANZ includes more than 160 companies together responsible for
assets in excess of $70 trillion.
All member alliances within GFANZ--which apart from banks also
includes insurers, asset managers and asset owners--commit to using
science-based guidelines to reach net-zero emissions, cover all
emission scopes, include 2030 interim target setting and commit to
transparent reporting and accounting.
Write to Dominic Chopping at firstname.lastname@example.org
(END) Dow Jones Newswires
April 21, 2021 02:42 ET (06:42 GMT)
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