The U.S. banking business continued to develop its voluntary disclosures in reference to local weather change this yr forward of recent rules which might be anticipated to be introduced in 2024.
Banks and credit score unions are making extra climate-related disclosures upfront of
New disclosures at sure banks this yr included measurements of each “absolute” emissions and “depth” emissions, in addition to new particulars on difficult-to-calculate Scope 3 emissions, which measure the carbon footprint of a financial institution’s worth chain and financing actions.
Whereas the most important U.S. banks’ disclosures in 2023 might set new business requirements, sure smaller establishments additionally improved their local weather reporting. This is a take a look at how some banks expanded their voluntary disclosures this yr.