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External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. BBVA joins the net zero emission banking alliance 2 hours ago BBVA has joined the Net-Zero Banking Alliance (NZBA) as one of the 43 founding members. Banks in this international alliance commit to ensuring that all of their credit and investment portfolios are neutral in net emissions of greenhouse gases by 2050, in line with science and the most ambitious targets in the Paris Agreement. In addition, the...

Date Time Share Mark Carney, UN Race to Zero campaign and COP26 Presidency launch Net Zero Financial Alliance with world’s biggest banks The Glasgow Financial Alliance for Net Zero (GFANZ), chaired by Mark Carney, UN Special Envoy on Climate Action and Finance, unites over 160 firms (together responsible for assets in excess of US$70 trillion) from the leading net zero initiatives across the financial system to accelerate the transition to net zero emissions by 2050 at the latest. All GFANZ member alliances must be accredited by the UN Race to Zero campaign. They must use science-based gu...

Monday, 1 March 2021, 7:49 am In a New Zealand first, ethical dairy investor Southern Pastures has entered into a three-year $50 million sustainability-linked farm loan with BNZ and its syndicate. Southern Pastures, owner of Lewis Road Creamery, will receive financial incentives for meeting new water quality and biodiversity targets and for achieving further reductions in its already low on-farm carbon emissions. Achievement of the targets will be directly linked to lower loan costs. “This deal recognizes that farming to mitigate climate change and environmental impacts is in our common i...

The Paris Agreement was signed exactly five years ago on Dec 12, by 196 nations. It was a breakthrough in global climate governance and cooperation, with a target to limit global warming this century to 1.5°C, and at most, to 2°C. As part of this, each signatory country had committed to its own Nationally Determined Contributions (NDCs) to reduce carbon emissions. However, many countries are not on track to meeting their Paris commitments, and five years on, with more advanced approaches to climate modelling, the data is telling us that global warming is on track to hit 2.8°C, far exceedin...