The Challenge of Finance Emissions

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Danske Bank has just published a new climate plan that maps all of its direct and indirect emissions. The bulk of the emissions on the lending side are really concentrated to four sectors, namely shipping, oil and gas, oil production and agriculture. Within these sectors there is a huge concentration into a relatively small number of individual clients.

In the past few years, hundreds of financial institutions have made big announcements about becoming net zero or carbon neutral by 2050.

But S&P Global Sustainable1 data indicates that many of these pledges don’t address Scope 3 financed emissions, which come from the investments financial institutions make or the loans they finance. These account for the bulk of the industry’s emissions.

In this episode of the ESG Insider podcast, we’re digging into the steps financial institutions are taking to reduce emissions across their value chain. We speak to Laurent Babikian from environmental nonprofit CDP. We hear from Samu Slotte, the Global Head of Sustainable Finance at big Danish lender Danske Bank. And we talk with Antoni Ballabriga, the Global Head of Responsible Business at Spanish bank BBVA.

Read research from S&P Global Sustainable1 on how financial institutions are addressing financed emissions here: https://www.spglobal.com/esg/insights/financed-emissions-are-missing-from-many-firms-net-zero-plans

We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).

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