ING and 30 other banks commit to climate action
On 22 September, 130 banks from around the world signed the Principles for Responsible Banking at the UN’s Climate Action Summit New York. One day later, ING and 30 other banks took it even a step further and signed the Collective Commitment to Climate Action.
This is the banking sector’s farthest-reaching commitment to align with the Paris Agreement goals. By adopting a common goal to focus their efforts on, banks increase the impact they can have on climate change worldwide. This commitment is a good example of how the Principles for Responsible Banking can be made actionable.
The 31 banks that signed represent $13 trillion in loans, roughly equivalent to the combined GDPs of Germany, the UK, France, Australia and Canada.