We’ve rounded up the latest news stories of banks that are paving the way for a more sustainable future! Let's enjoy some good news for once.
If you want to accelerate your own company's climate goals, you can book a 1:1 call with the WorkforClimate team.
Climate stories from around the world
- BNP Paribas, one of Europe's largest banks, has announced that it will stop directly financing the development of new oil and gas fields. This decision is part of the bank's plan to align its activities with the goals of the Paris Agreement, which aims to limit global warming to well below 2 degrees Celsius. Whilst still allowing BNP to finance fossil fuel companies, this is an important step in the right direction as BNP Paribas is one of the largest lenders to the sector in Europe. The bank's decision has been welcomed by environmental groups and is seen as a positive first step towards a more sustainable future.
- Barclays have announced that they are tightening their deforestation policy. Barclays has been a particular focus of activists given its role as a financier of Brazilian food-processing company JBS (JBSS3.SA), which has been criticised for its role in deforestation in the Amazon. Barclays has told their client JBS that they must prevent deforestation in South America.
- Shareholders in banks such as Goldman Sachs, Wells Fargo and Bank of America are making demands for the banks to stop financing fossil fuels. Wells Fargo disclosed during their AGM that almost 31% of shareholders voted for the publication of a clear plan for how Wells will exit fossil fuel funding. This level of support for resolutions is unprecedented and shows that there is increasing demands on banks to reduce their funding of fossil fuels.
5 top tips for bank employees to drive climate action at your workplace
- Educate yourself: Learn about the impact of your organisation on the environment and how the banking industry can help mitigate its effects.
- Chat to us: A great first step to drive action at your workplace is to book a meeting with a member of our team to learn the effective ways on how to make your bank green. Interested? Fill out the quick form below.
- Support sustainable banking practices: Encourage your bank to adopt sustainable banking practices such as investing in renewable energy, financing green projects, and reducing its carbon footprint.
- Engage with customers: As a banking employee, you have the opportunity to engage with customers and educate them on the importance of sustainable banking practices. Encourage customers to switch to paperless banking, invest in renewable energy, and support sustainable initiatives.
- Start a green team: If your bank does not have a sustainability team, consider starting one. A green team can help raise awareness about environmental issues and promote sustainable practices within the workplace.
Feeling inspired? Want to kick off your climate actions today?
Sign up to book a 30 minute slot with one of our WorkforClimate team to discuss how staff across banking are helping to green their banks:
