As the global demand for energy, water, food, transport, and infrastructure soars, there is an urgent need to produce and procure these resources sustainably. Financial institutions can use credible standards and certification schemes to ensure that ESG risks are adequately mitigated and that business models create economic and social value while preserving natural capital.
ASFI will support these outcomes by:
Developing recommendations for updating key standards and certifications to ensure alignment with international best practices
Supporting financial institutions to understand the relative strengths of different standards and certifications
Working with financial institutions to integrate these standards and certifications into their policies, processes, products, and overall portfolio management
Visit the ASFI Knowledge Hub to see best practice standards and certifications, including those that our Knowledge Partners are co-developing.
The Science-Based Targets initiative is a collaboration between CDP, the UNGC, WRI, and WWF, which assesses and approves companies’ targets to reduce GHG emissions in line with keeping global warming below 2⁰C. Financial institutions can require portfolio companies to set SBTs to ensure carbon risk is adequately mitigated.