Net-Zero Banking Alliance Disclosure Checklist

The United Nations Environment Programme Finance Initiative (UNEP FI) updated its Guidelines for Climate Target Setting for Banks in April 2024 to reflect the evolution of the sustainable finance landscape over the last three years and reinforce the roadmap for member banks aiming to achieve net-zero emissions. The Guidelines are designed to support Net-Zero Banking Alliance (NZBA) member banks in setting Scope 3 Category 15 emissions targets as defined by the Greenhouse Gas Protocol (GHG Protocol). While members have committed to achieving net-zero in their own operational emissions (Scopes 1, 2, and non-Category 15 Scope 3), this is beyond the scope of the Guidelines which focus only on banks’ Scope 3 Category 15 emissions. These Guidelines are also to be applied by members of the Principles for Responsible Banking (PRB) that have selected climate mitigation as one of their priority impact areas and should set climate targets within four years of joining.