Barclays, Handelsbanken, Triodos, Ecology Building Society and Tide have all committed to providing financial support to the NetZero economy.

The Bankers for NetZero initiative aims to find positive solutions for accelerating progress towards a net-zero world by collaborating across business, finance and government to explore how the banking sector can help de-risk the net-zero transition and work with other stakeholders to ensure policy, regulation and finance are all playing their part in enabling key industries of the UK economy to recover and transform themselves.

Bankers for NetZero is run in partnership by Volans, a research and advisory firm, the All Party Parliamentary Group (APPG) on Fair Business Banking, and Re:Pattern, a strategy consultancy specialising in sustainable finance. The initiative is engaging with stakeholders across government, the Bank of England, the Financial Conduct Authority and the Competition and Markets Authority and has the backing of several key national and international bodies such as UNEP FI and the UK’s Green Finance Institute.

Commenting on the announcement, UK High Level Climate Action Champion for COP26 Nigel Topping, notes: “Banks have been a bit late to the game on climate action. I really welcome the Bankers for NetZero initiative because it’s time for banks to catch up.”

Share Story: