Banks seek regulatory guidance on climate transition plans

Lack of agreement on how to identify whether borrowers are converging with net zero targets

Tracey McDermott, chair of the Net-Zero Banking Alliance

Some of the world’s largest banks say they need global standards to classify and measure the financing of transition to a low-carbon economy. While initiatives already exist for individual companies to disclose carbon emissions, there is no consensus on how to define lending that helps carbon emitters to transition to a greener business profile.

Tracey McDermott, group head of conduct and