Journey to net-zero
To support the transition to a low-carbon economy, we will:
- Align our power generation portfolio with the Paris Agreement. We want to eliminate all exposure to thermal coal mining worldwide.
- Set sector-specific targets for other material sectors. This includes Oil and Gas, Transport, Mining and Metals by September 2022.
- Raise and facilitate €120b by 2025 and €220b by 2030, in green finance across the globe.
- Produce 100% of our power from renewable sources.
- Maintain carbon neutrality in our operations. We will do this by offsetting our residual emissions. We have identified the priority sectors for reducing carbon. We are focusing our efforts where we can have the biggest impact.
Our Group roadmap to net zero outlines some of our key targets and milestones:
View full image
Net Zero Banking Alliance founding member
We are a founding member of the Net Zero Banking Alliance (NZBA). This is important to further our commitment to carbon neutrality. The NZBA shapes climate policy for banking around the world.
Progress on our strategy
It is vital to be transparent with our progress. We have a long track record of supporting a low-carbon economy.
We will no longer be providing financial products and/or services to:
- New coal-fired power plants worldwide
- Oil and gas drilling projects north of the Atlantic Circle
Go to ‘sector policies’ on our Group sustainability website for further details.
Find out more about our progress by reading our latest reports: