There are a number of acronyms and terms you might encounter when looking into a climate friendly bank. Here are some of the most common terms you might come across:
A certification for businesses that meet high standards of social and environmental performance, public transparency, and legal accountability to balance profit and purpose. These companies are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
An independent network of banks, credit unions, microfinance institutions, and other financial entities committed to advancing positive change in the banking sector by promoting transparent, sustainable, and social banking practices.
An initiative aimed at standardizing carbon accounting for the financial sector, enabling institutions to assess and disclose the greenhouse gas emissions associated with their loans and investments.
The Task Force for Climate-related Financial Disclosures provides information to investors about what companies are doing to mitigate the risks of climate change.