More finance firms acting on climate change, handful reach ’Gold standard’

A growing number of finance companies worldwide are having a positive impact on tackling climate change, in line with scientific targets. Nine out of 50 companies are making significant inroads in reaching their net-zero goals according to a new report from Imperial College Business School. Academic experts have assessed the credibility of institutions' climate commitments and actions based on evidence-based criteria and principles set by the UN Race to Net-Zero and the International Energy Agency's net-zero by 2050 scenario. The findings are revealed in a new report designed to set an industry standard for driving sustainable change across the financial services sector. The study scored financial companies according to whether they had explicit policies on eradicating financing for fossil fuel expansion or investment from their operations, as well as assessing the extent to which they had accomplished their aims. Nine institutions were given a Gold award for their efforts out of the 50 institutions assessed. The report, Sustainable Finance Report Card: Recognising Ambition Who's Walking The Net-Zero Path? has been produced by the Centre for Climate Finance & Investment at Imperial College Business School , in partnership with the Carbon Tracker Initiative, .