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Banks Can Ensure an Equitable Climate Transition
Article

Banks Can Ensure an Equitable Climate Transition



Editorial Rating

7

Qualities

  • Eye Opening
  • Well Structured
  • Concrete Examples

Recommendation

While the transition to net zero is underway, some banks have joined the effort faster than others. Although the majority of bank CEOs recognize the significance of social responsibility measures in their climate change mitigation activities, far fewer implement them, according to this perceptive analysis from professionals at the Boston Consulting Group. They advise executives to include such initiatives in their plans, taking into account their potential impacts and how they affect various socioeconomic groups.

Take-Aways

  • Banks must recognize their corporate social responsibility in their net-zero strategies.
  • “A just transition” addresses the impacts of climate change mitigation.
  • The Glasgow Financial Alliance for Net Zero (GFANZ) guides banks to effect climate transition through social reforms.
     

About the Authors

Douglas Beal et al. are professionals with the Boston Consulting Group.