Why? It encourages a coherent and systematic approach to climate mainstreaming and serves as a foundation and catalyst for a range of operational responses.
How? Based on backward- and forward-looking impact, risk, and alignment assessments, a financial institution can identify climate-related strategic priorities and set specific commitments, targets or goals typically embedded within a stand-alone climate change strategy or within broader sustainability or transversal strategy documents. To avoid staff working in silos, climate-related strategic priorities, commitments, plans and targets should be developed together with the institution’s other strategic objectives, endorsed and promoted by the institution’s leaders and integrated in its main strategy.