The CEO of Carbonplace, a transaction network for carbon credits, says he has ‘the best job out there’.

Legal commentators warn banks that greenwash or whose actions appear not to meet due diligence laws are almost certain to face similar legal action.

Many have high hopes for presumptive World Bank head Ajay Banga. 

Do banks need a climate transition plan?

Three non-profits are suing BNP Paribas for taking insufficient action to end fossil fuel financing, though the bank insists its strategy of reducing oil and gas exposure is ‘largely on track’.

Of 500 organisations surveyed who are “most exposed to deforestation risk in their supply chains and investments”, 40% have not set a single policy on deforestation.

Environmental, social and governance criteria are three separate goals that do not necessarily go hand-in-hand, says a Commerzbank white paper. 

Banks are under fire for failing to live up to commitments under the Glasgow Financial Alliance for Net Zero and continue to invest heavily in fossil fuel projects.

Although they are making the first steps, Europe’s largest banks are not yet doing enough to address climate change and nature loss. 

While European banks have a little more time to get their deforestation affairs in order, the wind is blowing towards requirement rather than suggestion.