Innovate Finance: Our Net Zero commitments
We commit to measuring and disclosing our scope 1,2 and 3 emissions and achieving Net Zero as quickly as possible.
- Within 12 months we will publish an action plan of how we will reach net zero including setting a net zero target date, and interim targets. We aim to halve emissions by 2030 across all scopes.
- We will annually measure and publish all scope 1, 2, and 3 greenhouse gas emissions and report progress on short- and medium-term targets.
We will join Tech Zero (TechZero (technation.io)
Our people and governance
- Integrate climate change and Environmental, Social and Corporate governance (ESG) issues into recruitment, training, and employee engagement
- Incorporate climate change and ESG issues into our organisational strategy, business planning and performance tracking
- Nominate a member of the executive team to be responsible and accountable for our net zero target.
Our operations and suppliers
- Enter into dialogue with our suppliers on the benefits of managing ESG issues and our expectations and requirements on ESG issues
- Integrate net zero and ESG issues into tender and selection processes for suppliers (including professional advisers) and sponsorship agreements (including the organisation of events)
Our advocacy, public policy & communications
We will work together with governments, regulators, legislators and other policymakers and key stakeholders and in our external communications to promote action and market innovation to tackle climate change, achieve NetZero and develop climate resilience:
- We will raise awareness and understanding of the role of our industry in achieving NetZero and climate resilience.
- Identify barriers to the development of Net Zero and resilience products and services – whether regulatory or policy barriers to new services and products or market failures that could be overcome by policy or regulatory interventions.
- Advocate solutions to support innovation and tackle barriers.
- Support wider policy, programmes, regulatory and legal frameworks that enable net zero transition, climate resilience and innovation.
- Include climate issues in our wider public policy and regulatory affairs work. We will consider the Net Zero impact of any policy positions or regulatory recommendations.
- Engage with intergovernmental and non-governmental organisations, academia and the scientific community to support the development of NetZero solutions, transition and climate resilience, and promote dialogue with our industry and members.
- Through media and social media we will promote public and business awareness of climate change risk, mitigation and science-based solutions.
We will engage all members on the market opportunity and risk imperative and provide support and help for members to contribute and encourage member commitments.
Member engagement and information
- We will develop information to capture the Net Zero commitments and progress of our membership base; to encourage progress, provide information on the market and inform our own work and priorities.
- We will establish a NetZero member group to engage and develop our position.
- We will champion those members who develop new products, services and business models that support achievement of science-based NetZero targets
Advice and support for members
- Organise workshops and roundtables to promote thinking and awareness amongst members and share insights from other organisations and make connections.
- We will share and develop best practice and practical tools to enable members to adopt and develop NetZero business models and services.
- Help members stay up to date on changing risk modelling and regulatory requirements and provide information and advice to help firms adopt net zero strategies and plans.
- We will promote NetZero market opportunities for members, including overseas markets and partnering with each other, other financial institutions and business sectors.
We will collaborate with other to shape a market that is aligned to NetZero targets and accelerates the path to NetZero:
- Work with other trade associations to identify issues for joint action to support net zero transition.
- Support other organisations who support Climate Change goals in our industry (e.g. Tech Zero , Green Finance Institute, and IceBreaker One).
- Work with Government, the Corporation of the City of London and partners to champion the UK as the centre for NetZero FinTech, green finance, and financial climate risk management and make the case for reforms that would support this.