Business & Finance
30 July 2023, 6:50 pm 1 minute
Reuters exclusively reported that banks working to develop global standards on accounting for carbon emissions in bond or stock sale underwriting have voted to exclude most of these emissions from their own carbon footprint.
If upheld, the decision would pit banks against environmental advocates, many of whom say the banking industry should assume full responsibility for the emissions generated by activities financed through bonds and stock sales, as it already does with loans. Banks’ accounting of these emissions will impact their targets for becoming carbon-neutral.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceClimate Change
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story