Long way to go for Asia’s banks in responsible financing, new study finds

Asian banks fared the most poorly on climate change, due to the very limited commitments they disclosed to phase out fossil fuel financing, according to the comparative analysis of banks’ responsible financing policies. Image: Asian banks have a long way to go in complying with international sustainability standards, and those in Vietnam fared the worst among six countries studied by a network of civil society organisations in Asia.

Although Japanese banks earned the highest score across nine sustainability themes analysed, their tally of 3.06 out of 10 means the country’s financial institutions are nonetheless laggards compared with those in Sweden, Norway and the Netherlands.

These were among the findings of a new study, commissioned by Fair Finance Asia (FFA), titled Responsible financing policies of Asian banks – A comparative analysis of banks from six countries . Dutch research and advisory firm Profundo conducted the analysis, which covered 45 banks in India, […]

Source: www.eco-business.com

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