Top UK and EU banks still lack credible climate transition plans
"Banks won’t adopt credible transition plans unless they are required to do so."
None of the top 20 banks in the UK and Europe has a credible, 1.5ºC-aligned climate transition plan, and most are still supporting fossil fuel expansion, according to a new report.
NGO Reclaim Finance analysed the non-financial disclosures of the 20 largest banks in the UK and Europe to assess their approach to decarbonisation, engagement and governance. It found that banks are still too focused on targets and reporting, with too little emphasis placed on action and engagement.
