Topo Finance released an evaluation of the climate resilience of banks, scoring the banks that were deemed by corporate treasurers as systemically important by looking at 15 indicators (including the carbon intensity of commercial lending, which we’ve been investigating this year for those institutions with whom we work).

Banks like BNP Paribas, ING and Lloyds Banking Group top the list. UBS, Santander and BBVA are in the moderate resilience range. Looking across the list, the bottom is notably dominated by U.S. institutions: Bank of America, Citigroup-US, Wells Fargo, Goldman Sachs, and JPMorganChase.

To improve on the index, banks can do several things:
– set net zero targets and join (or rejoin) the Net Zero Banking Alliance
– institute practices that actually move banks toward net zero
– focus lending on less carbon intensive sectors
– disclose with Partnership for Carbon Accounting Financials (PCAF)

We appreciate the team under Paul Moinester for conducting and presenting the analysis!