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South Pole: New report reveals 'financial cakeism': financial institutions continue to decarbonise but will not reduce their exposure to fossil fuels
The report reveals that nearly three-quarters (72%) of surveyed FIs have no intention of reducing their fossil fuel exposure over the next 10 years. Almost a third (27%) are choosing to make more conservative claims regarding their net zero strategy or green credentials. The report also highlights that 47% of financial institutions cite unclear regulation as a barrier to their net zero progress.
At the same time, almost half (44%) of FIs are planning to increase their exposure to green assets in the next 10 years, and nearly 80% of FIs find companies with a climate transition plan more attractive to finance. On top of this, the majority (88%) said they expect to "increase" their levels of engagement with their portfolio companies on decarbonisation in "the next two years", with many (44%) saying they expect to increase this engagement "significantly". The majority (86%) report to be on track or partially on track to meet net zero commitments.
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REPORT LINK: https://www.southpole.com/publications/south-pole-net-zero-report-2025
South Pole is the world's leading carbon asset developer and climate consultancy. Now in its fourth year, South Pole's latest Net Zero report provides insights into how financial institutions globally are progressing to net zero in 2025 and beyond. The sample of 350 financial institutions offers a valuable window into one of the most influential sectors for progressing the net zero transition.
View original content:https://www.prnewswire.co.uk/news-releases/south-pole-new-report-reveals-financial-cakeism-financial-institutions-continue-to-decarbonise-but-will-not-reduce-their-exposure-to-fossil-fuels-302425025.html