Banks Fall Dangerously Short of Pledges in New Net-Zero Study

Most banks that have published net-zero emissions targets are failing to live up to those commitments, according to a fresh study by ShareAction.

The majority of the 43 largest financiers of fossil fuels in the Net Zero Banking Alliance “have climate targets that fall short of what’s needed to prevent the worst impacts of climate crisis,’’ the nonprofit said Tuesday. In fact, only 16% of the banks analyzed have set interim, overarching net-zero goals, ShareAction concluded.

“Crucial gaps remain,” including a general failure to apply climate parameters for their capital-market activities and emissions-heavy sectors such as chemicals and agriculture, it said.

The study comes ...