ROME (dpa-AFX) - UniCredit (UCG), an international banking group, on Wednesday, announced it has joined the Net-Zero Banking Alliance or NZBA, an industry-led, UN-convened alliance of banks worldwide, committed to aligning their lending and investment portfolios with net-zero emissions by 2050 or sooner.
Andrea Orcel, CEO of UniCredit, commented: 'We are focused on delivering a positive and sustainable transition to green energy which does as little harm to both the planet and its people as possible. Our signing of the Net-Zero Banking Alliance is a commitment to helping society make this change. It will not be an overnight process, but I believe 2050 is the right target for our industry to commit to and I am looking forward to the changes that will come.'
Representing more than a third of global banking assets, with over 76 members from 35 countries and $54 trillion in total assets, the Alliance is a major step in the mobilization of the financial sector for climate. It recognizes the vital role of banks in supporting the global transition of the real economy to net-zero emissions, encompassing both operational and attributable emissions, including Scope 3 emissions.
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