85% of banks are still open to financing new coal, according to the State of transition in the banking sector report authored by the TPI Centre. ⛰ 0% of banks are committed to phasing out all coal activities in line with 1.5°C warming 🛢 8% of banks are committed to ending project financing of new oil and gas fields 🌳 0% of banks are committed to ending all activities that finance deforestation by 2025 ⚖ 0% of banks have explicitly committed to decarbonise in line with Just Transition principles These are some of key findings in the report, which analysed 26 multinational banks in Asia, Europe and North America, 10 US super-regional banks and two US custodian banks. Want to go deeper? Access the Report. 👓Read it. ✍Use it. 📲Share it. https://lnkd.in/eBaqbF3H For the report, the TPI Centre used its inhouse #CarbonPerformance, as well as its award winning #NetZeroBankingAssessmentFramework (NZBAF), developed in consultation with Institutional Investors Group on Climate Change (IIGCC) and Ceres, Inc. Also join us in our webinar: From words to action 📅Tuesday 29 October 2024 🕰9:00 London, 10:00 CET 17:00 Beijing, 18:00 Tokyo/Seoul, 20:00 Sydney 🔎Register: https://lnkd.in/eKA3jXGp The TPI Centre is the academic partner to the Transition Pathway Initiative (TPI) , an asset owner-led global initiative whose mission is to facilitate investors to address climate change. #StateofTransition #NetZero #TransitionFinance #CarbonPerformance #SustainableFinance #TransitionPlans #NetZeroBankingAssessmentFramework #TransitionRisks The London School of Economics and Political Science (LSE) Grantham Research Institute on Climate Change & the Environment The authors of this report are: Valentin Jahn, Algirdas Brochard, Nelson Alejandro Diaz, Ákos Hajagos-Tóth and Simon Dietz
Transition Pathway Initiative (TPI)
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Empowering investors to drive the low-carbon transition
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We provide robust, independent research which empowers investors to assess the alignment of their portfolios with the goals of the Paris Agreement and to drive real world emission reductions through our actions.
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Employees at Transition Pathway Initiative (TPI)
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David Russell
Chair of the Board, Transition Pathway Initiative
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Chandra Gopinathan, CAIA
Multi-Asset and Distressed Credit | External Manager Selection | Energy Transition Investing | Stewardship
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Andrew Steel
Global Head; Board Advisor / NED; Strategy; Sustainable Finance; Funding & Capital Markets; Innovation; ESG Regulation & Integration; ESG Ratings…
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Adam Matthews
Chief Responsible Investment Officer (CRIO) Church of England Pensions Board, Chair Global Investor Commission on Mining 2030, Member UN Secretary…
Updates
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Transition Pathway Initiative (TPI) reposted this
Today Climate Action 100+ has released the latest round of company assessments against the Net Zero Company Benchmark. Whilst results show #decarbonisation is underway for many of the world’s biggest #emitters, most are still not meeting all expectations of the Benchmark in terms of delivering a comprehensive strategy. This indicates there is a need for stronger '#climate #transition #action plans. Discover more on this year's results through our supporting press release here: https://lnkd.in/ekEXYVJX - Many thanks to all networks along with research partners & organisations for their work on this: Asia Investor Group on Climate Change (AIGCC) Investor Group on Climate Change (IGCC) Institutional Investors Group on Climate Change (IIGCC) Ceres, Inc. Principles for Responsible Investment RMI InfluenceMap Transition Pathway Initiative (TPI) and Carbon Tracker Initiative.
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What is a bank’s decarbonisation strategy? How do the banks score on this? And why does this matter? Nelson Alejandro Diaz, Policy Officer, Banking Project at the TPI Centre explains. A bank’s decarbonisation strategy includes specific actions to facilitate the achievement of decarbonisation targets, forms the core of a well-structured transition plan. A comprehensive decarbonisation strategy thus lends credibility to a bank’s targets. Want to go deeper? Access the Report. 👓Read it. ✍Use it. 📲Share it. https://lnkd.in/eBaqbF3H For the report, the TPI Centre used its inhouse #CarbonPerformance, as well as its award winning #NetZeroBankingAssessmentFramework (NZBAF), developed in consultation with Institutional Investors Group on Climate Change (IIGCC) and Ceres, Inc. Also join us in our webinar: From words to action 🗓 Tuesday 29 October 2024 🕰 9:00 London, 10:00 CET 17:00 Beijing, 18:00 Tokyo/Seoul, 20:00 Sydney 🔎 Register: https://lnkd.in/eKA3jXGp The TPI Centre is the academic partner to the Transition Pathway Initiative (TPI) , an asset owner-led global initiative whose mission is to facilitate investors to address climate change. 26 multinational banks assessed include: Agricultural Bank of China, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Bank of America, CIBC, Goldman Sachs, Morgan Stanley, Societe Generale, BMO, Citi, JPMorganChase, Scotiabank, Wells Fargo, BNP Paribas, Deutsche Bank, MUFG, RBC, Sumitomo Mitsui Banking Corporation – SMBC Group, TD, UBS, Groupe Crédit Agricole, HSBC, ING, Mizuho, Barclays
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Transition Pathway Initiative (TPI) reposted this
I’m very much looking forward to participating in the upcoming Investor Group on Climate Change (IGCC) Summit 7-8 November in Melbourne, where I will be on a panel with Alison Ewings, Alison George and Sasha Courville to discuss Corporate Climate Engagement: Emerging Challenges and How to Address Them. I’m sure that this will generate many interesting discussions. #Mission1Point5 #IGCCSummit24
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David Russell, Chair of Transition Pathway Initiative (TPI) will discuss #NetZero data challenges and tools for #TransitionPlanning at Environmental Finance’s Sustainability Data EMEA 2024 conference on Thursday, 17 October at 15:20 UK Time. He will be joined by Alex Clark at Asset Impact (GRESB) and Paddy Arber at Transition Plan Taskforce (TPT), on a panel moderated by candice coppere at ISS STOXX. Registration is here: https://lnkd.in/eV95HA8z
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How aligned are the banks with the Paris agreement temperature goals? Algirdas Brochard, Banking Project Lead at TPI Centre, explains the score chart below. In brief, 🔸Only 19% of the banks’ sectoral pathways are aligned with 1.5C or Below 2oC benchmarks in the medium term (2028-2035). 🔸Only 3% are aligned with the more stringent 1.5C benchmark. 🔸 Most have 2030 decarbonisation targets in line with the recommendations of the #NetZeroBankingAlliance (NZBA), but many lack short- and long-term targets to map a clear pathway to net zero by 2050. Want to go deeper? Access the Report. 👓Read it. ✍Use it. 📲Share it. https://lnkd.in/eBaqbF3H For the report, the TPI Centre used its inhouse #CarbonPerformance, as well as its award winning #NetZeroBankingAssessmentFramework (NZBAF), developed in consultation with Institutional Investors Group on Climate Change (IIGCC) and Ceres, Inc. Also join us in our webinar: From words to action 🗓Tuesday 29 October 2024 🕰 9:00 London, 10:00 CET 17:00 Beijing, 18:00 Tokyo/Seoul, 20:00 Sydney 🔎 Register: https://lnkd.in/eKA3jXGp The TPI Centre is the academic partner to the Transition Pathway Initiative (TPI) , an asset owner-led global initiative whose mission is to facilitate investors to address climate change. 26 multinational banks assessed are: Agricultural Bank of China, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Bank of America, CIBC, Goldman Sachs, Morgan Stanley, Societe Generale, BMO, Citi, JPMorganChase, Scotiabank, Wells Fargo, BNP Paribas, Deutsche Bank, MUFG, RBC, Sumitomo Mitsui Banking Corporation – SMBC Group, TD, UBS, Groupe Crédit Agricole, HSBC, ING, Mizuho, Barclays #StateofTransition #NetZero #TransitionFinance #CarbonPerformance #TransitionPlans #NetZeroBankingAssessmentFramework
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Carmen Nuzzo, Professor in Practice and Executive Director at the Transition Pathway Initiative (TPI) Centre at The London School of Economics and Political Science (LSE), will participate in the OECD - OCDE conference, "Multi-Stakeholder Event on Financing Industry Decarbonisation, Looking beyond Sectors: Identifying common Challenges and Solutions" (https://lnkd.in/eaQZ7PiF) The conference will draw upon the OECD Environment directorate's Framework for industry’s net-zero transition (https://lnkd.in/eTeT-Ags), bringing together stakeholders from the policy, financing, and industry spheres. Carmen will highlight private sector-led initiatives, such as Transition Pathway Initiative and Climate Action 100+, climate assessment tools such as the TPI tools (https://lnkd.in/en-P-rZB), and collaborations among government, industry and financial stakeholders. #TransitionFinance #TransitionPlans #CarbonPerformance #ManagementQuality With thanks to Ali Amin
Multi-Stakeholder Event on Financing Industry Decarbonisation
oecd.org
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Updated benchmarks and methodology notes for #CarbonPerformance are now available for the following seven sectors on our website! ⚡electricity utilities, 🏭cement, 🗼steel, ⚒diversified mining, ✈airlines 🛳shipping, 🛢oil and gas Access the notes on our publication page, filtered by #CarbonPerformance and Methodology: https://lnkd.in/eV2pNW_x Also check out our recent #CarbonPerformance data uploads for the oil and gas (https://lnkd.in/edMhRknZ) and electricity utilities (https://lnkd.in/ekRgJHVU) on our TPI Tool. The TPI tool is supported by over 150 asset owners and asset managers globally and is created and managed by the TPI Centre at The London School of Economics and Political Science (LSE) #TransitionFinance #ManagementQuality #TransitionRisks Grantham Research Institute on Climate Change & the Environment
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C40 Cities is a global network of mayors of the world’s leading cities that are united in action to confront the climate crisis. The Transition Pathway Initiative (TPI) tool is one of the assessment resources recommended by C40 Cities in its Knowledge Hub implementation guide: How to shift your city’s investments from fossil fuels to climate solutions (https://lnkd.in/eQ992552) The TPI tool (https://lnkd.in/d2PFbZ5U) is supported by over 150 asset owners and asset managers globally and is created and managed by the TPI Centre at The London School of Economics and Political Science (LSE) #TransitionFinance #NetZero #TransitionPlans With thanks to Matthew Stafford at C40 Cities Knowledge Hub and Lucinda (Lucy) Auden at C40 Cities
How to shift your city’s investments from fossil fuels to climate solutions
c40knowledgehub.org
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Thank you The Very Rev Kirsten Snow Spalding at Ceres, Inc. for citing our report in your op-ed! The TPI Centre's report, State of transition in the banking sector: https://lnkd.in/eBaqbF3H Authors: Valentin Jahn Algirdas Brochard Ákos Hajagos-Tóth Nelson Alejandro Diaz Simon Dietz at The London School of Economics and Political Science (LSE), Grantham Research Institute on Climate Change & the Environment
The low carbon transition is reshaping every sector, yet U.S. super-regional banks aren't getting the attention they need. These institutions face significant climate risks, but new analysis reveals their weak public accountability and lack of disclosure are leaving investors in the dark. Check out my latest op-ed exploring how super-regional banks stack up on climate action and why investors need to push for greater transparency. [link] #NetZero #ClimateRisk #Investors #Sustainability #BankingIndustry With many thanks to Transition Pathway Initiative (TPI) for their great research.
For investors, U.S. super-regional banks are a critical blind spot in climate risk disclosure | Trellis
trellis.net