Transcription of Guidelines for Climate Target Setting for Banks
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Guidelines for Climate Target Setting for Banks 1 Guidelines for Climate Target Setting for BanksApril 2021 Guidelines for Climate Target Setting for Banks 2 SummarySummaryAchieving the objectives agreed in the Paris Agreement to limit global temperature increases to well below 2 C from pre-industrial levels and striving for C will require ambitious actions from all strands of the economy: alongside governmental policy commitments and corporate action, financial institutions will need to adjust their busi-ness models in the short and long term and develop realistic strategies underpinned by robust, science-based targets and action plans.
Guidelines for Climate Target Setting for Banks 6 Guideline One Additional Guidance Banks shall set a 2050 target to support meeting the temperature goals of the Paris Agreement.3 Banks shall set an interim target for 2030 or sooner and may set further interim targets prior to that date. Targets shall be set based on:
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