Tracking the emissions we finance

Our aim is to support emissions reduction in the real economy by enabling our customers to diversify, decarbonise, and deliver their own transition plans.

What we’re doing

Our overarching focus is working with our customers to finance their transition needs and enable real-world emissions reduction over time. We have set interim 2030 sector targets across the highest-emitting sectors of our financing portfolio. These targets are one way in which we track our progress towards supporting our customers in the transition to net zero.

Supporting emissions reduction in the real economy

Our targets support the overall aim of achieving net zero in our financing portfolio by 2050 and to reduce absolute emissions in the real economy. In some sectors, we use emissions intensity targets to reflect the need to scale up low-emissions technologies while transitioning away from existing high-emitting technologies.

Our financed emissions targets rely on decarbonisation in the real economy. There are fundamental prerequisites to global emissions reduction, such as the pace of technological advancements, diversification of energy sources, market demand for climate solutions, and a supportive policy environment, which impact our own ability to make progress.

In our Net Zero Transition Plan, we committed to continually calibrate our approach to take into consideration the latest scientific methodologies, climate-related policies, and developments in the real world, given that our sector portfolios reflect progress in the economies where we operate.

Against this backdrop, we have begun a review of our interim financed emissions targets as part of the annual review of our Net Zero Transition Plan.

You can view our latest financed emissions disclosures on pages [42-84] of the 2024 Annual Report (PDF, 8.34MB)