Wells Fargo begins developing transition finance framework
Banks could generate US$44 billion of extra revenue annually through 2030 by financing the climate transition.
US bank Wells Fargo has started developing a framework to define and monitor transition finance activity as part of its sustainable finance approach.
The bank said in its latest climate report that in 2023 it began working on âa definition and approach for transition finance that considers a broad scope of activities necessary to enable real economy transitionâ, to be integrated into its business practices, along with banker training and data management.
