Banks challenged to fight climate change
New BankTrack position paper outlines how international banks should deal with climate impact of their operations
International banks are key financiers of activities and operations that contribute to climate change. Therefore, banks must take up their responsibility and adopt stringent policies and practices that will reduce their negative climate impact and make them contribute to positive change. To do so requires hard choices of banks, especially regarding their involvement in the fossil fuel sector.
This is the key message of “A Challenging Climate” a paper launched by BankTrack, the international network of NGOs monitoring private banks, of which International Rivers is a member. The paper, ‘A Challenging Climate; what international banks should do to combat climate change’ outlines the key elements of a advanced bank policy on climate change.