Transition idea key as banks present sustainability goals

By Jasper Cox
30 Jul 2020

Citi, Deutsche Bank and Credit Suisse all launched pledges related to environmentally friendly financing this week, as banks face continued pressure to make their balance sheet greener. The details of the announcements also displayed how the idea of “transitioning” high-carbon companies to become more sustainable has become popular in banking.

Citi announced a financing target for low-carbon activities, Deutsche said it would end certain types of financing, and Credit Suisse did both.

Credit Suisse aims to provide at least Sfr300bn ($329bn) of sustainable financing over the next 10 years, a category encompassing: renewable and low-carbon energy; green, blue ...

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