Banks step up efforts to tackle climate change

This is what emerges from the latest survey conducted by the ABI

The banks are strengthening their controls on the risks associated with climate change and the potential impact of these on the bank’s organization and on corporate clients. This is what emerges from the latest survey conducted by theAbithe Italian Banking Association, in collaboration with Scs consulting, on the Non-Financial Statements (DNF) of the activities carried out by banks in 2021.

85% of the banks considered in the analysis provide information on climate-related impacts on its business model. From the point of view of governance, i.e. process management and control, 75% attributed specific responsibility on climate change issues to at least one corporate body or other managerial bodies.

The study also highlights the banks’ growing commitment to curb direct greenhouse gas emissions, i.e. those generated by the banks themselves and whose source is owned or controlled by them, and indirect, i.e. those connected to the performance of banking activities. In particular, 67% of the banks in the sample defined quantitative objectives on climate change relating to direct emissions and 41% integrated into their remuneration system incentives linked to actions connected with the fight against climate change.