Non-binding ‘positive commitment’ reached on climate goals

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Dutch financial institutions put their signature on Wednesday under agreements that should contribute to the climate goals of Paris. Much is still unknown about the concrete measures they take against CO2 emissions.

Banks, pension funds, insurers and asset managers promise in their so-called commitment to present their own clear climate objectives by 2022 at the latest. For example, they want to contribute to financing the transition to cleaner energy.

From next year they will report how much CO2 is involved in their investments and financing. This report does not immediately cover all items on the balance sheet, but will be gradually expanded. All signatories may know how the emissions are measured.

No sanctions will apply to signatories who do not keep their promises, a spokesperson for the Dutch Banking Association (NVB) says. According to the spokesperson, the agreements must be seen more as a “positive” commitment.

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Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

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