The World Wildlife Fund-Singapore’s 2022 Sustainable Banking Assessment (SUSBA) shows that more than double the number of banks from the previous year’s assessment have committed to achieving net zero financed emissions by 2050. The SUSBA – an assessment framework that incorporates E&S issues most relevant to the Asian region – now includes 36 ASEAN banks and 10 major Japanese and Korean banks, with the report benchmarking banks against a set of indicators that represent ESG integration pillars. The 2022 assessment found that net zero commitments among the assessed banks had increased to 39%, up from 15% in 2021. However, the report also found that while leading banks continue to enhance their E and S risk management policies and processes, half of them have made little or no progress since 2021.
The report calls on financial sector regulators to implement and align E&S risk management requirements for banks to ensure financial stability. @WWF #singapore #financialstability https://t.co/T04gUQXl3J
— Regulation Asia (@RegulationAsia) January 16, 2023