Developing net-zero targets for a global bank
We worked with a major financial institution to help them develop their first overall and sectoral targets.
Client Context
- Large international bank looking to set its first sectoral and overall decarbonization targets.
- Senior leadership needed to understand the strategic implications of a net-zero strategy
- The bank needed to determine the relevant data and measures required to set actionable targets
Project Overview
- Baselined portfolio emissions and explored relevant transition scenarios aligned with 1.5 degrees
- Collaborated with lines of business to develop specific transition strategies
- Developed targets based on the latest net-zero alliance standards and in line with their strategic objectives
Results achieved
- Provided an initial baseline estimate of scope 1, 2, and 3 emissions for future reporting
- Selected the appropriate IEA scenarios for use in decarbonizing their high-emitting sectors
- Created training materials and content to help senior leaders determine appropriate alignment approach
- Created a target-setting document outlining both 2050 and interim targets.