The Net-Zero Banking Alliance 2024 Progress Report provides an overview of member banks’ independent efforts towards transitioning their financing activities to align with pathways to net zero by 2050 at the latest and to set intermediate sectoral targets for 2030 or sooner to put them on a path towards this goal. It summarises information received from 122 member banks up to the end of May 2024 and offers insights into members’ progress on target setting and transition planning, two key aspects of the voluntary commitment banks make when joining the Net-Zero Banking Alliance (NZBA).

Progress on membership, target setting, and transition planning

• Since the launch of NZBA in April 2021, membership has more than tripled from 43 to 144 banks.
• 97 per cent of the 122 banks due to have set their first individual sectoral targets had done so.
• Around four-fifths of the 50 banks due to have set targets covering all or a substantial majority of the carbon-intensive sectors where they have material exposure had done so.
• Nearly two-thirds of the 91 banks that were due to have published transition plans had done so, with more banks planning to publish in 2024.

In addition, 15 case studies from member banks are featured in the 2024 Progress Report.

Download the full report | Download the executive summary

NZBA provides an in-depth analysis of members’ progress on target-setting and delivery against their targets every two years in the form of a progress report. The last progress report compiled by the Alliance was published in November 2022, with a progress update published in December 2023.