Webinar: Science Based Targets for Financial Institutions

Financial institutions have special influence over companies through their investment and lending services. Therefore they are also in a unique position to encourage and put pressure on companies to set ambitious climate targets which correspond to the scenarios outlined in the Paris Agreement. Moreover, with the new EU Taxonomy, financial institutions have bigger incentives than ever to drive emissions reductions in their portfolios.

But how can financial institutions approach the mission of decarbonizing their investments? The answer can be found in the Science Based Targets methodology for financial institutions which was released in April of this year.

During this webinar, you will learn more about how financial institutions can set scientifically founded climate targets and why it is important that they do so. You will also get an overview of the three methods which Science Based Targets currently supports in the new methodology. Finally, there will be plenty of time for you to ask questions.

This event is organized by Global Compact Network Denmark in collaboration with the Global Compact Networks of Finland, Norway, and Sweden.

NB! Please note that the webinar is for representatives of companies which are part of a Nordic Global Compact network.

What is the Science Based Targets definition of a financial institution?

The SBTi defines a financial institution as a company whose business involves the arrangement and execution of financial and monetary transactions, including deposits, loans, investments, and currency exchange.

More specifically, the SBTi deems a company a financial institution if five percent or more of its revenue or assets comes from the activities described above.

Learn more about the Science Based Targets Initiative

Please visit https://sciencebasedtargets.org/sectors/financial-institutions to learn more about the initiatives work with the financial sector.

For companies in Global Compact Network Denmark:

To join our peer learning group on Science Based Targets, please sign up via our group page.

If would like to become a part of our peer learning group for financial institutions (in Danish), please contact Engagement Manager Djouhara Westberg on djouhara@globalcompact.dk.