The United Nations Environment Programme Finance Initiative (UNEP FI) updated its Guidelines for Climate Target Setting for Banks in April 2024 to reflect the evolution of the sustainable finance landscape over the last three years and reinforce the roadmap for member banks aiming to achieve net-zero emissions. The Guidelines support Net-Zero Banking Alliance (NZBA) and Principles for Responsible Banking (PRB) members in setting Scope 3 Category 15 emissions targets as defined by the Greenhouse Gas Protocol (GHG Protocol).
This document serves as a concise checklist summarising key requirements from the full Guidelines, which members are expected to address on a comply-or-explain basis. Banks are encouraged to exceed these requirements where possible and consider all guidance provided in the complete Guidelines. For comprehensive information, please refer to the full Version 2 Guidelines, Supporting Notes, and the NZBA publications page.