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Jaspreet Kalra: India's financial sector lags other major economies in its reporting on Scope 3 emissions, or lending-related emissions - the biggest contributor to the financial sector's carbon footprint.
India's largest banks have begun to audit their own and borrowers' carbon footprint as they try to mitigate financial risks amid growing pressure from regulators and investors to better align their...
The South Asian nation is the world's third-highest greenhouse gas polluter and has set a goal of reaching net zero emissions by 2070.
India's largest banks are conducting audits to assess their own and borrowers' carbon footprints as they face increasing pressure from regulators and investors to align their ESG reporting with global standards. India, the world's third-highest greenhouse gas polluter, aims to achieve net-zero emissions by 2070. The country's financial sector lags behind others in reporting on lending-related emissions. About 25%-35% of Indian bank loans are exposed to carbon-intensive sectors.
There has been a raft of important news this last month, with top stories including Clara Pensions becoming the first superfund to appear on The Pension Regulator's (TPR) list of approved superfunds.