The Commonwealth Bank has announced emissions targets for customers in four industries, and will do the same for other sectors, as well as for its home loan portfolio.
More than 40% of banks, insurers and super funds have selected some board members partly because of their climate or ESG experience, while more than 75% have provided climate training to their board members.
Instead of divesting its emissions-intensive assets, Macquarie Group aims to hold on to them and help them transition to lower emissions operation, its chair Glenn Stevens told today's annual general meeting.
About $70 billion of investment needs to flow out of emissions-intensive industries by 2030, as part of efforts to reach net-zero by 2050, according to a Deloitte analysis commissioned by NAB.
A total of 95 companies in the ASX200 have made some form of net-zero pledge, up from just 49 in March last year, according to the Australian Council of Superannuation Investors.
In a move designed to lure international investment into Australian sustainability initiatives, the Commonwealth Bank is now offering ESG-labelled term deposits denominated in foreign currencies.