SEB sets emissions targets for truck manufacturers in its portfolio
Chief Sustainability Officer Hans Beyer says the new target means three quarters of the bank’s financed emissions are now covered by its net zero strategy.
Swedish bank SEB is asking its clients who manufacture heavy vehicles to increase the share of zero emission truck sales, in a bid to decarbonise its own financing portfolio.
European banks are accelerating their efforts to lower the carbon footprint of their lending portfolios, as pressure from the European Central Bank to tackle climate risks is rising. Last month, Deutsche Bank set emissions targets for coal, cement and shipping clients, covering 55% of its corporate loan portfolio.
