For the planet and future generations 

In February 2023, taking another crucial step in our Net Zero journey, we announced the disclosure of 2030 targets for three of the most carbon intensive sectors within our loan portfolio – Oil & Gas, Power Generation and Automotive – to reach our Net Zero ambition by 2050. In January 2024, we complemented this first set of goals with targets for the Steel sector, another carbon-intensive sector in our portfolio.

To support the achievement of these goals, we are now publishing our inaugural Transition Plan, explaining how we are turning our commitment into actions. It includes dedicated initiatives focusing on:

  • Strengthening advisory services for corporates in high-emitting sectors
  • Significantly boosting our sustainable lending (green loans and sustainability-linked loans) to support our clients in their journey to decarbonise their operations and diversify away from carbon-intensive sectors
  • Supporting clients in the development and scaling-up of innovative climate solutions
  • Targeted partnerships with companies specialised in sustainability for specific sectors

Our ambition is to announce the disclosure of targets for further sectors in 2024.

Fiona Melrose

These targets reinforce our commitment to reach Net Zero on our own emissions by 2030 and on our financed emissions by 2050. This is alongside the action we have taken to drive forward a just and fair transition for all, particularly through green and sustainable financing and advisory activities."

Fiona Melrose

Head of Group Strategy & ESG

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