New Green Banking Academy launched in Europe and Central Asia

Implemented in partnership with the Austrian Federal Ministry of Finance, the initiative will help accelerate the green transformation of the banking sector in the region while tackling climate change

UN publishes guidance for financial institutions to invest in ocean health

Banks, insurers and investors have a ‘major role’ to play in financing the transition towards a sustainable blue economy, helping to rebuild ocean prosperity and restore biodiversity to the ocean

UK to set up green finance research hubs in London and Leeds

The research centres will help divert investment away from unsustainable activities such as deforestation and fossil fuels and towards low carbon sectors, ensuring climate and environment are at the heart of UK financial decision making

Banks ‘are silently and indiscriminately financing a toxic tide of plastic pollution’

Portfolio Earth claims financiers are ‘co-responsible’ for propping up the plastic packaging industry, one of the main contributors to harmful plastic waste

Development banks ‘cutting renewable investment despite climate crisis’

Christian Aid says institutions such as the World Bank are not in line with the Paris Agreement goal of keeping global heating to 1.5°C

Banks worth $47tn adopt new UN-backed climate principles

They represent around one third of the entire global banking sector

India’s publicly owned banks ‘favour coal lending over renewables’

The Centre for Financial Accountability said coal received $9.4bn last year, compared to clean technologies receiving $3.5bn

Major European banks pilot energy efficiency mortgages

Under such schemes, buyers can get reduced interest rates on their mortgages for greener and more energy efficient homes

Banks publish plan to help understand climate impacts

They aim to help other banks be more transparent about their exposure to climate-related risks

Emerging economies ‘making significant progress in green lending’

Emerging markets have become a “major force” in driving climate change with reforms to expand sustainable lending. That’s according to the Sustainable Banking Network, an International Finance Corporation (IFC)-supported organisation of banking regulators and associations, which suggests 34 countries have initiated banking reforms. They account for $42.6 trillion (£31tn) in bank assets – more than […]