SUSTAINABLE BANKING maximised the various avenues that support the energy transition .
“ This includes green financing , divesting from fossil fuels , advising clients on sustainability and promoting transparency in environmental practices ,” says Pablo Orvananos , Global Sustainability Practice Lead at Hitachi Digital Services .
“ One area often overlooked by banks is the decarbonisation of their own IT infrastructure ,” he continues . “ IT emissions contribute about 3.9 % of global carbon emissions , surpassing those of the aviation sector . Banks should systematically assess their entire IT ecosystem ( including data centres ,
colocation and cloud services ) to identify and reduce their carbon footprint .”
Not only this but as the conduits for the flow of capital , banks have a critical role to play in accurately and deliberately redirecting the flow of funds so the net zero transition can be achieved .
“ Energy accounts for the majority of all human-caused GHG emissions ,” says Dr Alexander . “ The financial sector will be a key player in bridging the financing gap to scale existing green energy solutions and unlock their full potential .”
Encouragingly , Dr Alexander is starting to see banks take their first steps in this direction .
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