RFI Newsletter Articles
Filter by topic
- ACMF 1
- AI 1
- ASEAN 3
- ASEAN Taxonomy 2
- Banking Supervision 1
- Blue Economy 2
- Blue Finance Challenge 1
- COP28 3
- Carbon Credits 1
- Central Asia 1
- Climate Disclosures 1
- Climate Mitigation 1
- Climate Risk 13
- Climate Scenario Analysis 1
- Climate Stress Test 1
- Coal Phase-Out 1
- Credit Ratings 1
- ESG 5
- Emerging Markets 10
- Emissions Intensity 1
- Ethical Finance 1
- FinTech 1
- Financed Emissions 2
- Financed Emissions Data 6
- Financial Institutions 9
- Financial Mateirality 1
- GCC 2
- GHG Protocol 1
- GVI Hub 3
- Global Stocktake 1
- Green Bonds 2
- Greenwashing 1
- ISSB 1
- Institutional Investors 1
- Islamic Banking 3
- Just Transition 2
- MAS 1
- MENA 2
- MSMEs 1
- NGFS 2
- Nature Risk 3
- Nature-Related Disclosures 2
- Net Zero 5
- OIC 3
- Paris Agreement 2
- Portfolio Decarbonization 3
- Refintiv 1
- Responsible Finance 3
- Risk Management 1
- SBTi 2
Banks in the GCC region are tackling climate transition risk, but it remains a ‘work-in-progress’
Standard & Poor’s Ratings has this week addressed frequently asked questions about climate transition risk facing banks in the Gulf Cooperation Council (GCC) countries, describing banks’ efforts in measuring the risk to date as a ‘work-in-progress’. On financed emissions, like those covered by RFI Foundation’s financed emissions database, S&P highlighted that “banks' difficulties with measuring scope 3 emissions come up regularly in our discussions”. This is understandable because emissions measurement is an almost universal challenge for banks globally.
This context of data gaps was a motivating factor for the way RFI undertook its financed emissions work, which is catalogued in an open-access database with five years of data covering banks and financial markets in the six GCC countries and five other OIC markets. The financial sector plays a key role in financing the transition and will need substantial new capabilities beyond what they have now to understand the many types of climate transition risk they face from the activities they finance.
Is It Possible To Define Criteria For Net Zero Credibility For Financial Institutions?
SBTi’s document is the latest step in the process of creating a financial institution Net Zero (FINZ) standard to be released in 2024
The criteria outlined are ambitious in their coverage of financed and facilitated emissions, which are defined as “Category 15+”, referring to the GHG Protocol’s substantially narrower definition of financed emissions
It will remain challenging to develop a consistent framework for forward-looking Net Zero plans that incentivize investment in transition activities while avoiding easier but less meaningful ‘portfolio decarbonization’