Hard Work: Reading Bank's Climate Disclosure Reports is Absolutely Intense
By James Vaccaro, February 2022
It’s reporting season and banks are updating more than just their financial performance; they’re giving updates on their climate targets. Their climate and environmental reports are so big they have their own space (often well over 100 pages) to go into the details of decarbonisation. But even with all this data and disclosure, it can often leave the reader with more questions than answers.
There’s no question there is greater climate awareness. In a recent study of major banks ranked as the largest funders of fossil fuels, they are all talking more about climate change in general, but on closer inspection were quite vague when it comes to initiatives to counter it.
There’s also more confusion now about what a target even means.