We have a lot of portfolio level targets, a lot of commitments to net zero at the high level, but (they are) not drawing that down to the sector level, which is what’s going to make a difference in the real economy.

Jesica Andrews

What is challenging is how you define that science, and that’s what this paper does; it lays out how the science should be applied to make sure that commitment is credible, if policymakers want to get behind this and they want to see more comparability, this is what we need to be asking financial institutions to do.

In the last two years we’ve just seen an incredible explosion of net-zero commitments, this is really the first time we’ve done a state of the art assessment and put forward really concrete recommendations on how a financial institution, specifically, sets a net-zero target that is credible.