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Guidelines for climate target setting for banks

The UNEP FI’s Collective Commitment to Climate Action (CCCA) group of 38 signatories has developed these Guidelines for Climate Target Setting, which outline key principles to underpin the setting of credible, robust, impactful and ambitious targets in line with achieving the objectives of the Paris Agreement.

Key points

The guidelines presented in the report are the following:

  • Banks shall set and publicly disclose long-term and intermediate targets to support meeting the temperature goals of the Paris Agreement.
  • Banks shall establish an emissions baseline and annually measure and report the emissions profile of their lending portfolios and investment activities.
  • Banks shall use widely accepted science-based decarbonisation scenarios to set both long-term and intermediate targets that are aligned with the temperature goals of the Paris Agreement.
  • Banks shall regularly review targets to ensure consistency with current climate science.