Our climate strategy

We’re focused on helping to deliver a net zero global economy. It’s a pillar of our strategy as a business.

We aim to achieve net zero in our operations and supply chain by 2030 and in our financing portfolio by 2050. Between now and then, we’re working with our clients to help them reduce their emissions and scale up low-carbon solutions, as we work to reduce our own. This will be a change over time, as businesses and economies progressively move away from high-carbon activities.

We call this the transition to net zero. We can have the biggest impact by working with our clients to help them achieve it.

In addition, we’re providing finance to accelerate climate change solutions and building global partnerships to help channel investment swiftly towards sustainable projects.

And as we transform our own operations and supply chain to net zero by 2030 or sooner, we’re asking our suppliers to do the same.

Our climate policies and targets

We will align our financed emissions - the emissions produced by the customers and projects we finance - to net zero by 2050 or sooner.

We have set on-balance sheet financed emissions targets to 2030 for key carbon intensive sectors. Our targets include a commitment to phase down our fossil fuel financing in line with what’s needed to achieve net zero by 2050. In the meantime, we continue to support energy clients that take an active role in the energy transition, helping to finance and invest in the technologies and infrastructure needed to succeed. We engage closely with our clients on their transition plans, which helps us to track our own progress towards net zero by 2050.